Try Quests to earn cryptoTime To Swap Some BTC & ETH
goETH and goBTC are wrapped forms of ETH and BTC minted by algoMint. Let's look at goBTC and goETH swaps across the DEXs since the beginning of April and get a better understanding of how wallets are swapping goETH and goBTC - especially during the price crash in May.
Next Two Chart depict buy and sell volume separated by BTC and ETH and not considering The DEX involved. we can see that starting from May 8th Volume for both assets are increasing since there is a market panic and fear. This reaches it's peak on May 11th and 12th as the price experiences around 25% decrease.
Analysis
Let's Start with Total and Daily number of Transactions grouped by DEX in use. Popularity of DEXs are pretty much the same but it is interesting that Algofi and Pactfi are attracting more Users than Tinyman which traditionally was #1 in every DEX metrics! Also Daily number Of transactions separated by DEXs shows nothing out of expectation, and one spike that is related to latest crash (correction?) in market.
Now Looking at Buy and Sell Volume on DEXs we can see that shape and form of chart is the same as transactions count. Also Pactfi and Algofi again are performing better. Specially ETH pool on Tinyman seems Troubled since it has a very low volume.
Introduction
Well, it's hard to imagine a successful block Chain without BTC and ETH! AlgoMint brought these to valuable assets to Algorand and now they are of most traded assets. You don't need to Buy these from CEXs with high transaction fees anymore. Stats show that a lot of people are using algorand to trade BTC and ETH, and even hodling and putting as collateral to take a loan.
Today we are going to see how numbers look when it comes to swapping BTC and ETH; how many people, how much, with what pair, etc. Also we had some sharp volatility in market price which can impact our numbers. We are also separate some stats by host DEX to see which one might be more popular.
In next chart we are going to see which assets are the most popular assets to swap your BTC and ETH for? Algo dominate this area and this suggests that some people using their original BTC nd ETH to acquire ALGO and use it's financial opportunities. STBL is the most popular Stable coin maybe because there isn't enough large pool for other pairs yet.
It was pretty obvious in previous charts that recent price crash in may impacted pretty much every criteria measured. For another example, next chart shows count of all swaps that include BTC and ETH both selling and buying; and as you see impact is more than obvious.