Question:

It's been a hectic few days in crypto — especially when it comes to FTX. Show us what's been going on on-chain by analyzing relevant data and presenting it in an original dashboard. \n

Notes: It is to be noted that the data for the past 30 days has been considered

Methodology:

In order to get the addresses of the FTX cex, the crosschain tables

were considered after which the deposits made to these addresses were found by referring the ez_eth_transfers and the ez_token_transfers and clubbed together. A similar method was used to get the withdrawals and both the results were then further analysed

Summary:

In this dashboard we would be looking into the following charts:

• Total Transactions Deposited By Symbol
• Total Amount Deposited By Symbol
• Most Deposited Symbol By Transactions
• Most Deposited Symbol By Amount
• Total Transactions Withdrawals By Symbol
• Total Amount Withdrawn By Symbol
• Most Withdrawn Symbol By Transactions
• Most Withdrawn Symbol By Amount
• Conclusions

Explanation & Insights:

• While ETH was the most deposited by number of transactions(21%), it had about 11.4% only by amount deposited

• On the other hand USDC was the most withdrawn by amount (about 40%+) and accounted for 8% of all deposit transactions .

• The other tokens deposited by transactions are REEF, FTX , USDT , AXS ,AAVE and SUSHI with about 4.5-3.5% dominance for each

• The other tokens deposited by amount are BUSD, USDT, FTX , tUSD with about 20%, 16.5%, 1.7% and 3.4% respective dominance

• Notably, the first symbols of crash could have been estimated at about 1st November when volumes more than doubled for deposits!!

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Explanation & insights:

• While ETH was the most withdrawn token by transaction, the other important ones are USDC, REEF, FTX , AAVE, AXS and USDT
• When it comes to withdrawals by amount, a similar pattern is observed implying that a ‘rescue’ fund that was about to be deployed was withdrawn and that simply boosted the volume!!
• Even here, the volumes on 1st November would have indicated of an upcoming crash.
• Considering the FTX Price for the past 30 days, it is evident that one had an opportunity to short on 1st November to get the most of the crash or could have sidelined the funds when a sudden volume would have been seen

Conclusions:

• FTX has crashed miserably and as can be seen about 90% of the value has been lost
• The first symbols were available on 1st November when a sudden surge in volumes were observed
• Notably, while withdrawing and depositing the retailers dealt with ETH and USDC while whales were involved with BUSD and USDC as very few number of wallets were involved with such high volumes