In this post, we will look into all the Metrics, Trends, Major Whales Activity, Outliers of LUNA 2.0 Transactions

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Introduction

After the collapse of the Terra Luna and the complete Terra ecosystem wiping billions of dollars of investor’s money, Do Kwon, the chief executive officer of TerraForm Labs, proposed replacing the current Terra network with a new blockchain, LUNA 2.0 which is launched on May 27, 2022.

This ‘hard fork’ allowed projects that were previously hosted on the Terra network to transition to the new one without requiring any changes to their projects.

As part of Kwon's recovery plan, Terra investors would receive a set number of Terra LUNA tokens. It is anticipated that the value of the new blockchain would increase as more people adopt the new blockchain.

The old blockchain network, Terra Classic blockchain, would continue to operate and host Terra USD. Projects built on the previous blockchain, as well as companies that validate transactions, will migrate to the new blockchain.

Accordingly, LUNA2.0 would be the sole cryptocurrency usable by applications and projects utilising the new blockchain.

Transaction Metrics of LUNA 2.0

Let’s look into the Important Metrics for the Transactions happened on LUNA 2.0

• Total Number of Transactions and on Daily basis
• Total Number of Unique Users and on Daily basis
• Total Volume transacted and on Daily basis

Also we can look into the Outlier Detection: Standard Deviation of Volume on LUNA 2.0

Major Whales Activity on LUNA 2.0

Methodology:

• Get the Balance of each User by calculating difference between the Volume Received and Volume Sent.
• Now get the Major Whales addresses by filter the Balance > $1M.

Let’s look into the Transaction Activity of the Major Whales on LUNA 2.0

• Major Whales on LUNA 2.0 with their Balance.
• Volume Received & Volume Sent by the Major Whales
• Selling & Buying Trends of the Major Whales

Also we can look into the Outlier Detection: Median Absolution Deviation (MAD) of Volume for all the Major Whales

Summary

From all the above charts and information, we can summarize that:

Transaction Metrics:

• At the initial days of LUNA 2.0 launch, we can see that there is high spikes in Transactions, Users and Volume on LUNA 2.0.
• On May 28th, on Total 38k Users did 59k Transactions of $22M volume. On 29th, it is decreased to 12k Users with $4.5M. Again on 30th, it is increased to 20k with $20M volume. And on 31st it is again increased to 22.5k Users with $27.3M volume of LUNA 2.0
• For the months of June & August, we see that there is very low trend for Number of Transactions & Users. But for the Volume, we see a few low spikes and most of the days, it is trending less than $5M.
• And then suddenly on September 9th, there is high peak of Transactions (15.5k) & Users (7.5k) and then there is gradual decrease and currently the count of users participating in the transactions is trending around 600.
• For the Transaction Volume, we see the high peak on September 8th and September 9th with $40M and $37.7M. Currently it is trending less than $5M.
• We also defined an Outlier Detection i.e., Standard Deviation for the Transaction Volume.

Major Whales Activity:

Methodology: From the Terra Core Tables, get the Transaction Volume Received & Sent for the LUNA 2.0 Token. Then getting the difference between the Volume Received and Volume Sent gives us the Total Balance for an User. Let’s consider The Users with >$1M as the Whales.

• Among all the Major Whales, we can see almost 67% is occupied by a single user i.e., terra1jrq7xa63a4qgpdgtj70k8yz5p32ps9r7mlj3yr with $41M Balance. This particular user has the $44.3M Volume Received and only $3M Volume Sent.
• Then we can also look into the Selling (Volume Sent) and Buying (Volume Received) Trends of all the Major Whales.
• We also defined an Outlier Detection i.e., Median Absolute Deviation of Volume for all the Major Whales.

A SUDDEN PEAK ON SEPTEMBER 9TH, 2022

As is evident on the chart, in a matter of about two weeks, Transaction Volume rallied nearly 10 times the value it was back on 25 August, 2022 at its highs. It has since receded a little but, still such a rally in this bear market is a significant feat, especially for a coin that is marred by a history of doubt and suspicion after the implosion that cost the crypto market over $40 billion.

the Terra blockchain ecosystem revived the LUNC token by introducing a new burning protocol in the blockchain network. The ‘tax burn’ proposition is being laid out in the blockchain to impose a 1.2% burn on every transaction that is being done on the network. This ‘tax burn’ regime aims to reduce the token’s hyperinflated supply and is also likely reason behind the high raise in all the Transaction Metrics for the September 2nd week.