What Will You Read?

    In this analysis, You will read about Celsius Swaps. I found out about the swapping behavior of the Celsius network on both Sushi and Uniswap. Which tokens did they swap the most? From which one of their wallets did they conduct most of the swaps?

    Method

    First I have found all Celsius addresses with website hints in flipside_prod_db.crosschain.address_labels table. I set PROJECT_NAME equal to 'celsius network'. Then I used those addresses in ethereum.core.ez_dex_swaps table.

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    Swaps To

    Swaps From

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    Top Wallets

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    The below chart shows the total number of swaps from tokens on Sushi and Uniswap by Celsius addresses.

    • Most swaps happened on Sushiswap
    • LDO with 359 swaps on Sushi and 5 on Uniswap is the most token that Celsius wallets swapped from.
    • The second one is WETH with 214 swaps on Sushiswap and 59 swaps on Uniswap.
    • The third one is VSP with 125 swaps on Sushiswap and 12 swaps on Uniswaps.

    Let's Examine Volume of Swaps.

    • Nearly 18M dollars were swapped From LDO.
    • About 12M dollars WETH and 7.6M dollars CVX.

    Again most volumes happened on Sushiswap.

    LDO with a 29% share of total swaps is the most swapped from token by Celsius wallets. The second one is WETH with 21% of the total share. The third one is VSP with 11% of the total share.

    Let's examine which Tokens celsius wallets are swapped to.

    • WETH with about 50M dollars has the highest volume among the other tokens.
    • The second one is Bitcoin with about 6M dollars.
    • The third is USDC with about 4M dollars.

    Most swaps happened on Sushiswaps.

    The total number of swaps to a token is like the previous chart.

    • WETH with 73% of total swaps is the most popular token by Celsius wallets.
    • Bitcoin with 10% and USDC with 6% are in the second and third place.

    There were 5 Celsius wallets that most use to swap. A wallet has 375 swaps. The second one had 190 swaps and the third one had 146 swaps.

    These 5 Celsius wallets generated the most volumes.

    • Only one wallet swapped 21M dollars.
    • The second one swapped 18M dollars.
    • The third one swapped 14M dollars.
    • As I mentioned before, 82.5% of total swaps happened on Sushiswap and 17% of them occurred on Uniswap.

    Conclusion

    • According to this Analysis, Celcius wallets have sold their LDO token and Bought ETh and BTC.
    • Most swaps are generated by 5 Celsius wallets.
    • Sushiswaps is the most popular Dex for Celsius wallets.

    Thank You For Reading!

    Written By Hess

    where

    discord_id: Hess#0890

    and

    twitter_id: @hessaminanloo