Introduction / Glossary

What is Ethereum?

Ethereum is a decentralized blockchain platform that establishes a peer to peer network that securely executes and verifies smart contracts. These different smart contracts allow participants to buy and sell within the blockchain without using a central authority. 

What is a whale?

A whale is an address that holds a significant amount of a currency. This would give them a lot of power in governance, but also to make huge transactions that can effect the blockchain far more than the average user.

Methodology / Metrics

The goal of this dashboard is to see how whales have been acting during May and June of 2022. A whale is going to be described as someone who has 5000 or more Ethereum. I will be looking into fees and transactions, NFT purchases, and the different and most popular pools that these different users have been active in.

Fees and Transactions from Whales

1. All of the whales held a consistent amount of transactions throughout the months of May and June meaning that even though total transactions may have been less the whales have been very active
2. The fees show the same idea of consistent activity, but the major jump in fees correlates to the same days that there was a larger amount of activity however the fees jumped by a seemingly higher ratio than the total transactions
3. This could mean that this is because there were a lot of non-whale users making transactions on these days and that led to the fees being far higher
4. There was not 1 day during the last month that whales did not participate and have a minimum of 50,000 transactions.

Whales and NFT’s

1. Whales were spending close to 50k a day on average at the beginning of May if not more, but by the third week in may they were spending far less.
2. At the beginning of May sales went over the $50,000 mark 7 times, but throughout the rest of May and June it only went over that mark once.
3. There were 3 NFT’s that accounted for much of the popularity from whales taking over nearly 60% of all sales even though there were many other NFT’s that could be purchased
4. Overall, the NFT market on Ethereum has not been a place over the last two months that whales are wanting to spend their money

Most Popular Pools for Whales

1. The total amount of money being swapped hit a high of $386,000 USD and a low of just a couple $100 during the last two months.
2. Whales were spending a lot at the beginning of the May and through the end of May - the middle of June there was not a lot of swapping, but towards the end of June, the levels increased back to where they were in the beginning of May.
3. Most of the top pools are whales moving into Ethereum from other currencies that are less stable or well known, which definitely will have been a good investment due to the fact that Ethereum went up highly in terms of value

Conclusion

1. Whales have been consistently making transactions over the last two months, but what they have been purchasing or exchanging has varied
2. Whales are most likely to switch into Ethereum or WETH during this time
3. Whales stopped spending as much money on NFT’s during the last two months
4. The total money swapped was high towards the beginning of May and the end of June, but had a lull period in the middle