Overview

In this dashboard, we first calculated the swap volume to $SCRT, then the correlation between price and swap volume to $SCRT was found. In the end, the impact of the mainnet Upgrade, Shockwave Alpha, on the swap volume to $SCRT was examined.

Swap volume to SCRT over the past three months

The bar chart below displays the volume of swap to SCRT over the past three months in the Osmosis DEX. In this interval, other tokens in Osmosis swapped to SCRT with the value of 21M $SCRT that May 12th with the volume of 1.25M $SCRT had the most swap volume in the past three months.

Impact of the news on swap to SCRT

The below line chart shows the correlation between $SCRT price and swap volume to $SCRT. According to the chart for the past three months, the price trend is unrelated to swap volume to $SCRT. Swap volume fluctuated in a specific range, and just on May 11th and 12th, with the news of the Shockwave Alpha upgrade, the swap rate increased dramatically, so the considerable swap volume to $SCRT mainly was related to news about SCRT mainnet upgrades. This vast swap volume to SCRT on May 12th could be indicated that the shockwave Alpha upgrade was relatively successful, and this colossal volume changed the SCRT downward trend to the sideways.

More about Shockwaves Alpha and Omega upgrade

There is another mainnet upgrade called shockwave Omega upgrade, and June 2022 will be the time of this upgrade. In the following, some features of Alpha and Omega upgrades Are expressed: Shockwave Alpha:

1. Nodes utilize all available cores for serving queries, and 500-600x speed boosts for certain network events, like NFT mints and airdrops
2. Docker image available with automatic node registration & state sync for the CosmWasm directory
3. Mempool optimizations (recommended for validators!)

Shockwave Omega:

1. Upgrading to CosmWasm 1.0 smart contract infrastructure, aligning Secret Network with the other chains that have already made this change. This upgrade should further increase smooth and speedy Interchain activity, as smart contracts from each chain using the CosmWasm 1.0 infrastructure can be easily ported over to Secret Network and vice versa.
2. Omega will enable Secret contracts to send IBC messages, allowing for the direct transfer of SNIP-20 tokens to other IBC chains.
3. Interchain accounts can call secret contracts, enabling two-way IBC messaging. This will firmly establish Secret as a privacy hub!
4. replacing the engine that executes smart contracts, allowing faster processing of older and newer contracts.

Conclusion

1. Mostly, the Swap volume to $SCRT has fluctuated in a specific range, but on May 11th and 12th, with the Upgrade of Shockwave Alpha, the swap volume to $SCRT increased dramatically.
2. In the past three months, there has been no correlation between Price and Swap volume to $SCRT.
3. News about the $SCRT mainnet upgrade considerably impacted swap volume to $SCRT.
4. It's predicted that with the upgrade of Shockwave Omega, we could see another massive swap to $SCRT, but the $SCRT price could drop below one dollar and reach 0.8 dollars.