this dashboard will have a close look at swaps on May 11 and 12 on algorand. we will find below data to analyze swaps on Algorand on May 11 and 12.

Q98. On May 11th and 12th we saw a spike in number of swaps and volume across the DEXs. Breakdown what happened?

What were users swapping from and to?

Were users swapping from ALGO to stables?

Was the average swap size bigger than normal?

Is this tied to the price of ALGO?

Help us understand what took place and why the volume and number swaps increased!

Q98. On May 11th and 12th we saw a spike in number of swaps and volume across the DEXs. Breakdown what happened?

On may 8th we saw a price crash on almost all crypto tokens. Algo price crashed too.

when price of a token crashes, two things will happen. first some users got FOMO,fear of missing out, and they will start to buy crashed token.( in most case FOMO will happen when price rises).

and another group will sell their token. because they will afraid if they don't sell right now they will have to sell at lower prices.

this two situation can be the reason for increasing number of swaps on Algorand.

I will made a chart from number of swaps from May 1st till now to compare and see what happened.

as we see number of swaps on May 11 and 12 increased and was much higher than other days.

also number of unique swappers increased too.

What were users swapping from and to?

the next two chart shows top 5 assets that users swapped from and to.

these assets are founded by asset used. so more use of an asset means that it was popular on those days.

base on this chart users were selling these 5 assets more than others.

and also users bought these 5 assets more than others.

algo was the top token to bought and sold by used count.

Were users swapping from ALGO to stables?

again we can find top 5 assets that users bought with their Algo tokens. and then look if they are stable coins or not.

from top 5 asset that users bought with Algo, 3 of them are stablecoins.

first asset was USDC and second one was STBL which is stablecoin again.

and USDT is stablecoin too.

Was the average swap size bigger than normal?

I will find average swap size for stablecoins and Algo from May 1st.

the next chart shows average sold size for USDC,STBL,USDT and ALGO.

this chart is made from average sold size and if we look at May 11 and 12, Algo average sold size was more than other days. for other assets we can not say for sure. for example in compare to first days of May USDC average sold size decreased on May 11 and 12.

but for Algo and USDC, average sold size decreased after May 12th.

Is this tied to the price of ALGO?

definitely it is. as I said before when price crashed users will do more swaps.

as we see from May 11 Algo price had it's second crash and that's where users will sell.