Introduction

Sam Bankman-Fried, the founder and CEO of the FTX exchange, was one of the first investors and supporters of Solana and invested heavily in SOL through Alameda Research. Alameda Research had about 50 million Solana currencies, which it decided to sell after the bankruptcy of its parent company. This amount is about one seventh of the total supply of SOL. For this reason, with the release of this large number of cryptocurrencies to the open market, we saw a sharp fall in the price of Solana.

Dashboard Purpose

In this dashboard, we are going to find out what effect the sharp drop in the price of Solana has had on the most important Ethereum NFT marketplace on the Solana network, i.e. Opensea.

For this purpose, we will present visualizations related to one week before and one week after the chaos of FTX, we want to see what happened in Opsea of Solana during the chaos.

Methodology

In this dashboard, we used two tables, solana.core.fact_nft_sales and solana.core.dim_nft_metadata, to provide visualizations related to NFT sales in the opensea marketplace on solana network, and data such as sales volume, the number of sales transactions, and the number of buyers and sellers in the opensea marketplace in one week before the FTX chaos and one week after it.

We also checked the data related to the sold collections and their prices as well as the behavior of the users of this market.

Sales Volume

observations

• The charts above and the chart on the left show visualizations of NFT sales volume in the opensea marketplace in the week before and after the FTX chaos.

• As we can see, in the week after the chaos, the sales volume has grown significantly and reached more than 750 sol on November 9.

• The total volume of NFT sales in the week after the chaos is more than 7 times that of the previous week.

• The average sales volume per buyer has increased more than 4 times in the week after the chaos, and the average sales volume per seller has increased more than 5 times.

• The average total sales volume in the week after the chaos is about 4 times that of the week before, and the most expensive NFT was sold at a price more than 7 times the price in the week before the chaos.

Number of sales and number of buyers and sellers

observations

• The above graphs are related to the number of NFT sales as well as the number of buyers and sellers in the opensea marketplace.

• As we can see, the number of NFTs sold, as well as the number of buyers and sellers in the opensea marketplace and in the week after the chaos, has increased significantly, the number of NFT sales has increased by 2.5 times, and the remarkable thing is that in the week after the chaos The number of buyers is greater than the number of sellers.

• But each seller has sold more NFTs on average. The average number of sales per seller is 2.2 and per buyer is 1.9.

• In the week after the chaos, more than 620 NFTs were sold, while in the week before that, this number was about 250 NFTs.

Sold Collections

observations

• Let's see which collections had the highest volume of sales in the week before the chaos and in the week after.

• The above graphs show the daily and normalized NFT sales volume and the left graph shows the total sales of the top collections in the opensea marketplace.

• Noteworthy about the 2 famous collections of Solana Monkey Business and Okay Bears As we can see in the week before the chaos, there are no tokens from the Solana Monkey Business collection It has not been sold, and from the Okay Bears collection, the highest selling price was about 47 sol, but in the week after the chaos, the sales volume of the Solana Monkey Business collection suddenly increased. To 598 Sol and the Okay Bears collection It reached more than 250 sol. As we can see, from November 8 to 11, the largest volume of sales in Opensea market was related to these 2 collections.

observations

• Let's see what the highest price of tokens related to high-selling collections was in the first and second week.

• As we can see, from the top 5 collections, the tokens of 3 collections have been sold at a higher price, and the token of the Okay Bears collection has been sold for about 50 sol less, but the interesting thing is that the token belongs to the Solana Monkey Business collection. It has been sold for more than 200 sol.

observations

• Let's see if the addresses that bought NFT tokens in the week before the chaos sold their tokens in the week after the chaos.

• As we can see, more than 97% of the wallets that bought NFT in the week before the chaos, hold their tokens and did not sell them in the week after that. Out of about 310 NFT buyers in the week before the chaos, 7 addresses sold their tokens in the second week.

observations

• Let's see how much profit these 7 addresses that sold their tokens in the second week made?

• The graph on the left shows the profit from the sale of NFT tokens sold by 7 addresses.

• As we can see, the top seller has sold the token with more than 20 Sol profit.

• Other sellers sold their tokens for a profit of less than 5 sol.

Distribution of Sales Price

observations

• The above charts show the distribution of sales volume based on the number of sales, the number of buyers, and the number of sellers.

• We can see that in the week after the chaos, the sale with a price above 5 to10 sol has increased . It is noteworthy that the sale of tokens with a price above 10 sol by sellers has increased by about 6% in the second week.

observations

• The charts above show the top 5 buyers in the first week and the second week of FTX Chaos. We want to see how the buyers bought in these two different weeks.

• As we can see, the volume of purchases was much higher in the second week. In the second week, the address EERiAc6FTMuq5VvbopiyXLEgmnrme8xrRehugdqLuEGX bought a token, belonging to the Solana Monkey Business collection, for 380 sol. This address had more than $20,000 NFT tokens in its wallet on November 8th and sold all of its NFT tokens by November 11th. You can see the wallet balance chart of this address here.

Conclusion

It seems that the chaos of FTX has also affected the opensea marketplace on the Solana network, or rather, the volume and number of sales in this market have increased after the chaos of FTX.It seems that in addition to the high sales of Sol tokens, the NFTs of this network have also had a lot of sales in the Opensea market.

However, these are the behaviors that the digital asset market players show.