observations

• The upward trend of the number of transactions in the bull market and the downward trend of the number of transactions in the bear market can be seen.
• About 200,000 more trades were made in a bull market than in a bear market.
• The average number of transactions in the bull market was about 7,000 more than the bear market, and on the most active day of the bull market, about 50,000 more transactions were made than the bear market.

observations

• The graphs of the number of users show that users are more active in the bull market and the number of active users is more in the bull market.

• The number of active users in the bull market is about 30,000 users more than the bear market, and on the most active market day, the number of users of the bull market is about 40,000 more than the bear market.

• The average and median of active users in the bull market is more than the bear market

observations

• The number of fail transactions is more in the up market, as we can see, the number of fail transactions is about 70,000 more than the down market.

• The highest number of fail transactions is on July 29, with 38,400 transactions, which is about 14% of the total transactions made on this day.

• On August 23, which belongs to the bear market, about 11.5% of all transactions were unsuccessful.

  \

observations

• The interesting thing is that in the bearish market, more users make unsuccessful transactions, as we can see on August 10, which belongs to the bearish market, more than 2,500 users made fail transactions, which is more than 14% of all network users on this day.

• As we can see, the number of users who had unsuccessful transactions in the down market is about 3,000 addresses more than the up market.

• On July 27, which had the highest number of users, only about 3% of the transactions were unsuccessful, which belongs to the bull market.

observations

• We can see that the trend of the number of swap transactions in the bull market is upward, and in the bear market, fewer swap transactions have been made.

• In the Bull market, about 150,000 swap transactions have been done, more than the Bear market

  And on the most active day of the swap market, about 30,000 more trades were made in the up market than in the down market.

• The average, median and minimum of swap transactions in the bull market was higher than the bear market

observations

Although we see a mild downward trend in the swap bear market, the interesting thing is that the number of swappers in the bear market is more than the bull market. About 15,000 users in the bear market have completed swap transactions more than in the bull market, and the average swapper in the bear market About 500 addresses were more than the bull market

observations

In the graph on the left, we can see that the price of OP Token during two types of bull and bear markets had an upward rally from July 13 to August 4 , and experienced a down trend from August 4 to August 26.

Introduction

What is OP?

OP coin is the governance coin of Optimism network. The main use of OP coin is the ability to create and manage multi-signature accounts as well as participate in governance processes in this network.

The Optimism network will go towards decentralization after the OP coin is distributed and applied. With the decentralization of the Optimism network, it is possible for users to play a role in creating blocks and performing transactions as network nodes, and also to participate effectively in Optimism's governance decisions.

Op Bull vs Bear Market

Op token has experienced a bull market and a bear market during the months of July and August. This token went from $0.45 to $2 on August 4 during a price rally that started on July 13. It reached $1 during a bear market with a price drop of about $1.

Dashboard Purpose

In this dashboard, we are going to examine two stages of Op's price changes. We will examine the two price markets that Op Token experienced during the months of July and August.

We want to see the effects of these two types of markets on the Optimism network and what changes have been made in the activities of this network.

Methodology

During this dashboard, the price changes of Op Token during July 13 to August 26 have been divided into 2 bullish and bearish markets, and the activities carried out on the Optimism network during these two types of markets have been analyzed.

Checking the transactions and behavior of users as well as the income from fees in Optimism network has been called using the optimism.core.fact_transactions table. The behaviors related to swaps in terms of transactions and swappers have been called from the optimism.core.fact_event_logs table, and since Velodrome is the most important dex of the Optimism network, the behavior of users during 2 types of markets has also been examined on this platform.

The optimism.core.ez_nft_sales table has been used to call the data related to NFT sales in Optimism network, and the behavior of NFT sales has been extracted from the data of this table.

And the activities related to the bridge in the entry and exit of assets were investigated in two types of markets in this way. For this investigation, the ethereum.core.ez_token_transfers table from the Ethereum database was used and by using the address contracts of the entry and exit between the Ethereum mainnet and the Optimism network, the data related to the bridge of assets from Ethereum to Optimism and from Optimism to Ethereum were explored in two types of markets.

observations

As we can see, the income from the fee is almost the same in the 2 types of markets, and because more transactions have been made in the bull market, the income from the network fee in this market has been about 4 Ether more.

observations

• The upward trend in the number of transactions per hour can be seen in the bull market and the downward trend in the bear market.

• The highest number of transactions per hour is seen on July 27 in the bull market with around 18,500 transactions per hour and the highest number of transactions per hour in the bear market is on August 10 with around 16,700 transactions per hour.

• The highest average number of transactions per hour in the bull market is on July 29, which is more than 11,000 transactions per hour, and the highest average number of transactions per hour in the bear market is on the border between these two markets, with more than 9,000 transactions per hour.

• An interesting point is that both in the bull market and in the bear market, on the 2 days when the highest number of fail transactions were made, the highest number of transactions per hour were also made, that is, in the bull market on July 29 and in the bear market on August 10.

observations

• As we can see, Velodrome Dex users have sold a larger volume of Op Token in the up market than in the down market, and the number of Op Token sales transactions has also been higher in the bull market.
• The largest volume and number of sales transactions was in the bull market, and on July 29, on this day, more than 40,000 swappers sold more than $30M of Op on Velodrome Dax.
• It is noteworthy that the significant sale of Op Token in the bullish market was done by half of the users of the bearish market, in other words, a smaller number of users sold a larger amount of Op in the bullish market.
• Another noteworthy point is that the average and median sales volumes in the Bull and Bear markets are almost equal.
• Top 10 OP sellers in bull and bear markets have exchanged their OP tokens for velo and WETH ,in addition to stablecoins.

observations

• The volume of purchases and the number of OP purchase transactions in the velodrome and in the bull market are more than in the bear market.
• The number of OP buyers in the velodrome in the Bull market is about half of the number of buyers in the Bear market.
• The average and median purchase volume of OP in the bull and bear market was almost equal.
• In addition to stablecoins, OP buyers have paid velo and WETH tokens for OP purchases.

observations

• The volume of NFT sales in the optimism network in the bear market was about 3 times the sales volume in the bull market. The largest volume of NFT sales was on August 8 and was about $100,000.
• The number of NFT sale transactions in the bull market has been more than the bear market. The highest number of NFT sales transactions was on August 1 and was more than 2,200 transactions.
• In the bull market, the number of NFTs sold was more than in the bear market, and in this market more than 4,000 NFTs were sold more than the bear market. The highest number of NFTs sold was on August 1, with more than 2,100 NFTs.
• The number of buyers and sellers of NFT in the bull market was more than in the bear market, and in the rising market, more users bought and sold NFT.
• In the bear market, motorheadz and optichads projects had the highest sales volume, and in the bull market, apetimism and optipunk projects had the highest sales volume.

observations

• 1529 users of Optimism network have transferred about $415M of assets from Ethereum network to Optimism network during the bear market during 2256 transactions.
• The volume of assets transferred during the bear market was about 3.5 times the amount of assets transferred in the bull market through the bridge from the Ethereum network to the Optimism network.
• Bridgers and also the number of bridge transactions from Ethereum to Optimism have been more in the bear market than the bull market.
• The largest volume of asset transfer from Ethereum to Optimism was at the beginning of the bear market on August 5, during which about $130M of assets were transferred to the Optimism network through the bridge.
• During the bear market, an average of $186,000 was transferred from Ethereum to Optimism.
• During the bear market, more than 240 M USDC tokens were transferred from Ethereum to Optimism by the top bridger, and the second asset that had the most transfer through the bridge to the Optimism network was WBTC asset.

observations

• The process of transferring assets from the Optimism network to Ethereum has been increasing during both types of markets, and this increase in the trend has been especially significant in the bear market.

• During the bear market, more than $110M of assets were transferred from the Optimism network to the Ethereum network by 251 bridgers during about 500 transactions.

• The volume of assets bridged from the Optimism network to Ethereum in the bear market was about 3.5 times the volume of the transfer in the bull market.

• The largest transfer was on August 11, during which about $20M of assets were bridged to the Ethereum network.

• In the bear market, an average of $218K was transferred from Optimism to Ethereum.

• The top bridge from Optimism to Ethereum has transferred about 68 million USD to the Ethereum network.

• The top bridger has transferred about 68M USDC to the Ethereum network.

Transaction and User Stats

In the following visualizations, the number of transactions and active users during 2 types of bull and bear markets have been checked.

Transaction Status

In this section, network transactions and users in 2 types of bull and bear market are examined in terms of success and fail. The following visualizations provide data about the success and fail of transactions in terms of transaction count and user count in the bull and bear market.

Fee income

In this section, we will examine the fee income during 2 types of bull and bear markets.

Number of transactions per hour

In this section, we will check the number of Optimism network transactions per hour. The 2 graphs below show the number of transactions per hour in two bull and bear markets.

Swap behaviors

In this section, we take a look at the swap behavior in the Optimism network and check the number of swap transactions as well as the number of swappers in this network during two bull and bear markets.

Velodrome swap status

Since Velodrome is the most important Dex on the Optimism network, in this section we tried to check the buying and selling position of Op Token in the bull and bear market on this platform.

The following visualizations provide data from the buying and selling position of OP Token in Velodrome Dex based on bull and bear markets.

OP Sell Position

OP Buy Position

NFT Sales Stats

In this section, we will examine the status of NFT sales in bull and bear markets. The following visualizations provide data of NFT sales in bull and bear markets.

Bridge Stats

The visualizations below show the bridge ERC20 assets from the Ethereum network to optimism as well as the transfer of assets from the Optimism network to Ethereum during 2 types of bull and bear markets.

From Ethereum To Optimism

From Optimism To Ethereum

Conclusion

In this dashboard, various statistics were presented, including the number of network transactions and the number of network users, as well as statistics of transactions, swap volume, NFT sales volume, and bridge volume from Ethereum to Optimism and from Optimism to Ethereum during 2 bull and bear markets.

The following results can be obtained from this dashboard:

1. The number of network transactions and the number of active users in the bull market will increase.
2. The number of failed transactions increases in the bull market and the number of users who make failed transactions increases in the bear market.
3. The income from the Fee is higher in the bull market.
4. The number of transactions per hour is higher in the bull market and it seems that this increase will increase the number of failed transactions.
5. The swap volume is more in the bull market, but the swappers are more present in the bear market.
6. In the bull market, the volume of op token sales is higher, but the number of op token sellers is less than in the bear market.
7. The purchase volume of Op Tokens in Velodrome Dex is higher in the bull market, and the users of this Dex have bought about 3 million dollars more Op Tokens.
8. The volume of NFT sales is higher in a bear market.
9. The volume bridged by users is higher in a bear market.
10. The most bridged assets by top bridgers, in both bull and bear markets, is USDC.