Introduction

Welcome to the Ethereum Mainnet Dashboard! In this dashboard, we will be examining the positive price action of Ethereum (ETH) from block 16310000 (January 1, 2023) to block 16420000 (January 16, 2023). We will be exploring on-chain activity that could correspond to the recent increases in ETH's price, as well as major dapps, tokens, or similar that have risen with or more than ETH over that time span. Additionally, we will be analyzing changes in user activity, including in specific protocols, over the time period.

Methodology:

1. Collect data on Ethereum Mainnet activity from block 16310000 (Jan 1, 2023) to block 16420000 (Jan 16, 2023) using flipside crypto.
2. Analyze the on-chain activity during this time period to identify any correlations with the recent increases in ETH's price. This can include looking at factors such as the number of transactions, the volume of ETH transferred, and the number of new addresses being created.
3. Identify major dapps, tokens, or similar that have risen with or more than ETH over the same time span. This can be done by analyzing data on the number of active users, trading volume, and overall growth of these projects.
4. Analyze changes in user activity, including in specific protocols, over the time period. This can include looking at metrics such as the number of new users, the frequency of transactions, and overall engagement with specific dapps or tokens.

Daily Ethereum on Chain Active

Analysis:

The graphs show that since the start of 2023, the price of ETH has increased from approximately $1,200 to $1,550. This represents a significant increase in the value of ETH over a relatively short period of time. One potential reason for this increase in price could be an increase in demand for ETH. The data on user fees and transactions shows an uptrend during this time period, indicating that more people are using the Ethereum network. This increased demand for the network could be driving up the price of ETH. However, it's worth noting that the uptrend in user fees and transactions is not significant. The increase in demand for the network may not be enough to fully explain the increase in the price of ETH. Additionally, it's important to consider other factors that could be affecting the price of ETH, such as market sentiment, news and announcements, and overall cryptocurrency market conditions. It's also worth noting that the time horizon of 6 months is relatively short and it's important to take a longer-term view to understand the trend and patterns in the data.

Ethereum Token Price

ETH swap Activity on DEXs

Analysis

The graphs show that in the time period where the price of Ethereum increased, the DEX volume of ETH also grew by 3x. Additionally, it shows that the number of DEX users increased by about 50%.This suggests that there may be a correlation between the price of Ethereum and the usage of decentralized exchanges (DEXs). As the price of Ethereum increases, more people may be inclined to trade it on DEXs, resulting in an increase in DEX volume and users. It's worth noting that the increase in DEX volume and users is from a local low. This could indicate that the growth in DEX usage is more of a recovery from a previous dip rather than a sustained increase. Additionally, the increase in price of Ethereum could also be driven by other factors such as market sentiment, news and announcements, and overall cryptocurrency market conditions.

Ethereum NFT mint activity

Analysis

The graphs show that there has been no significant growth in NFT mining activity on Ethereum during the specified time period. Additionally, it shows that only 2 collections had over 1 ETH spent on Ethereum gas fees.This suggests that the recent increase in the price of Ethereum may not be directly related to the growth of the NFT market on the Ethereum blockchain. NFT market is still relatively new and niche, and it may not yet have reached a stage where it is driving significant activity on the Ethereum network.It's also worth noting that the data is showing that only 2 collections had over 1 ETH spent on Ethereum gas fees, this could indicate that the NFT market on Ethereum is still small and has a limited number of high-value transactions.

Conclusion

In conclusion, the dashboard shows an increase in the price of Ethereum from approximately $1,200 to $1,550 during the specified time period. The data on user fees and transactions shows an uptrend during this time period, indicating that more people are using the Ethereum network. Additionally, the data shows that the DEX volume of ETH also grew by 3x and the number of DEX users increased by about 50%. However, the data also shows that there has been no significant growth in NFT mining activity on Ethereum during the specified time period and only 2 collections had over 1 ETH spent on Ethereum gas fees. While the uptrend in user fees and transactions, and the growth in DEX volume and users suggest that there may be a correlation between the price of Ethereum and the usage of decentralized exchanges (DEXs) and the overall demand for the network, the lack of significant growth in NFT mining activity on Ethereum suggests that the recent increase in the price of Ethereum may not be directly related to the growth of the NFT market on the Ethereum blockchain.