Not Your Keys

    Did bridge activity spike over the last 7 days? If so, to what ecosystems?

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    Over the past 20 days, nearly 30,000 bridges have been made by more than 5,000 users.

    In the two graphs below, you can see the number of bridges made and the number of users on a daily basis:

    As you can see, the number of both charts increased on November 8 and 9.

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    As you can see, after the news of FTX bankruptcy, many people tried to bridge their assets from unsafe networks to safe networks.

    There was also a massive exodus from FTX.

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    In the two graphs below, you can see the source and destination blockchains based on the number of their bridges:

    As you can see, more than half of the bridges were destined for two blockchains, Osmosis and Ethereum.

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    In the two graphs below, you can see the number of bridges and bridgers by chain on a daily basis:

    In these two graphs, the superiority of some blockchains over other blockchains is well known.

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    In this dashboard, we are going to examine the activity of the bridge in the last 7 days in response to the bankruptcy of FTX:

    The following questions will be answered in this dashboard:

    • Did bridge activity spike over the last 7 days? If so, to what ecosystems?
    • At a more granular level, track net outflows from FTX onto Ethereum. Did any of these outflows flow across Satellite to another destination chain?
    • Also, other questions have been answered during this dashboard.

    What is Satellite?

    Satellite the first ecosystem applications powered by the Axelar Network. Satellite is a decentralized cross-chain asset transfer application, which enables users to transfer assets they hold on a source chain to an address on a different destination chain. Link

    The following tables from the Flipsidecrypto.com site was used to create this dashboard:

    > fact_msg_attributes , ez_eth_transfers , ez_token_transfers

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    In the two graphs below, you can see the net output from FTX to Ethereum:

    As you can see, after the bankruptcy of FTX, the volume of inflow and outflow has decreased drastically.

    And before the bankruptcy, there was an outflow of money.

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