Introduction

    • In this Analysis, You will read about the Osmosis chain.

    • This week has highlighted the need for transparency & decentralization in crypto markets. Due to the FTX exchange crash, All markets crashed for a short time. The BTC price dropped nearly 3k US dollars.

    • Let's see how users have reacted to this wild week in Web3. Have behaviors changed? Analyze growth in Osmosis Volumes & User Count this week.

      Has more money flowed into Osmosis this week compared to the past few weeks/months? Where is this money coming from? Have wallets moved more into stables?

    Analyzed by Hess - Reading Time Almost 10 Min.

    What is Osmosis?

    • Established in 2021, Osmosis is a multi-chain AMM built for the Cosmos ecosystem. The DEX offers interoperability between blockchains using Inter-blockchain Communication Protocol (IBC) and Axelar, which facilitate the connection of blockchains within a decentralized infrastructure.

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    Swap Activities ( Last 60 Days )

    • The average Swap Volume After FTX was higher than the average volume in the last 60 days. If I ignore October 28 when the swap volume increased up to 35M US dollars, More volume swapped after FTX in the last 60 days. Also, The total daily number of transactions after FTX was higher than the daily transactions in the last 60 days.
    • The Daily traders didn’t change too much before and after FTX.
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    Stablecoin swaps

    • USDC has the highest volume, Traders, and transactions in comparison to other coins. As you can see, After the FTX crash, All parameters like the Swap volume, Traders, and the total swaps increased. However, These metrics are based on From Stablecoins. Based on the swap to stablecoins, Swaps and traders didn’t change too much. The swap volume to Stablecoins from 2-3M Daily, Increased up to 8M US dollars. But what is interesting is that the swap volume to Stablecoins increased significantly. Almost became 2x higher than the normal days.
    • Other Stablecoins like USDT or DAI increased too but it wasn’t like USDC.
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    Compare Swaps

    • The daily share of swaps to non-stablecoins decreased from70-75% to 54% after the FTX crash. While the daily share of swaps from and to stablecoins increased up to 10%. Following the transactions, The total daily number of traders from and to Swaps increased.
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    Transfers

    • The total daily number of users from and to Osmosis didn’t change too much on Osmosis. But based on Volume, The daily volume from and to Osmosis became 2x higher than normal days. The average transfer volume from Osmosis was 3.2M US dollars and the average transfer volume to Osmosis was 3.3M Us dollars.
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    FTX Crash

    • The exchanges crashed amidst liquidity concerns and allegations of misused funds followed by a large volume of withdrawals from rattled investors. The value of FTX's native token, FTT, plummeted last week, taking other coins down with it including Ethereum and Bitcoin, which reached a two-year low as of Nov. 9

    Full Analysis

    Swap Transactions and Traders

    :key: insights

    • The average number of traders after FTX was 10K and before FTX was 11K per Day.
    • The average Number of Transactions After is 45K and Before FTX was 41K per Day.

    :bar_chart: Charts

    • According to the daily trader chart, The total daily traders didn’t change too much before and after the FTX crash. Even, The total daily traders decreased a little. Also, The average daily number of traders before FTX was higher than traders after FTX.
    • Unlike traders, The total daily number of transactions increased After the FTX crash. After FTX, The total number of transactions became 2x higher than before FTX. The average daily number of transactions before FTX was 41K but after FTX increased to 45K.

    Swap Volume

    :key: Insights

    • The average daily swap volume was 7.2M US dollars after FTX and it was 5.8M US dollars before FTX.
    • The highest swap volume was on November 8 and 9.

    :bar_chart: Charts

    • Before the FTX crash, The daily swap volume was 5-6M US dollars. But After FTX increased up to 14.8M US dollars. For two-three days, The swap volume was higher than normal days but after that, The swap volume decreased.


    Swap From

    • Based on the Swap Volume in the last 60 days, Most users swapped from Atom token. After Atom, The top second token was Osmo.

    • Based on the transactions, Most users swapped from Atom and Osmo.

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    Swap To

    • Based on the swap Volume, Again, Osmo and Atom are two popular tokens that users swapped to.
    • Also, Based on transactions, Most users swapped to Osmo and Atom.

    THANK YOU FOR READING!

    ALL CODES AND CONTENTS WERE WRITTEN BY HESS.

    :bird: Twitter: @hessaminanloo

    :t-rex: Discord: hess#0890

    :calendar: Analyze Date: 2022/NOV/17