Lets look at Quixotic NFT sales on the largest NFT marketplace on Optimism!

Methodology:

The 2 most recent marketplace contracts are utilized:
- 0x3f9da045b0f77d707ea4061110339c4ea8ecfa70
- 0x065e8a87b8f11aed6facf9447abe5e8c5d7502b6
Trade activity is gathered using optimism.core.fact_event_logs.
As ‘0x065’ contract was attacked, events associated with the hack address 0xbe81eabdbd437cba43e4c1c330c63022772c2520 are excluded.
OP token price is generated from Uniswap swaps at address 0x6f32061f59a21086C334d0d45F804089cE374aAf
ETH/WETH is generated from ethereum.core.fact_hourly_token_prices.
Any missing USD price data was imputed based on closest values or manual lookups.

Protocol Overview:

Conclusion:

With 128 NFT projects currently offered Quixotic has room to grow which is occurring with the approximately 230 new users entering every day.
Most users have less than a handful of transactions but as we observed with our top traders, some of these are of substantial USD value.
We did not identify any ‘high alpha’ traders when comparing top buyers and sellers, although some may exist outside of the top 10.
As ‘the trend is your friend’, observing strong continued interest in the top projects is a positive.
Up and comers such as motoheadz indicate that trends can change.
Having seen recent selling pressure, the questions are if buyers will return in force and if the current top projects will maintain their dominance?

Ethereum is the dominant form of payment holding 96.7% of transaction value.
7 day average USD volume has recently recovered from beneath the mean as the selling pressure we observed on July 27th has begun to subside.

The increased trading volume has been driven by new wallets, however, the majority of wallets are only conducting one trade.

We also notice some super-users with high volume activity exceeding 50 trades.

We observe more sellers recently stepping in, with a crossover of the 7-day average occurring on the 27th of July.

Since the 27th activity has trended down with new buyers stepping in.

With an average of 381 daily trades, the past few days have seen a string uptrend in activity.
On the majority of high trading volume days we observe an imbalance between unique buyers and sellers, indicating individuals either buying or selling their collections en masse.

On the sellers side we find a significant difference between those trading transactions vs USD amounts.
The high value NFT sellers have significantly less trades than sellers relying on high volume trade activity.
On the buyers side, we observe a similar relationship with the exception of ‘0xc7a’ who is agressive with both USD value and trade activity.
Putting all the wallets together we obverse only two wallets who appear on top on both side of the transaction - with the highest USD gap being $180.
‘0xc7a‘ is a top buyer only, thus listed once.
Our consolidated table indicates none of our top traders are actively flipping for a quick profit.

Daily trade activity has been recently dominated by supnerds which had varying levels of popularity since June 15th.
Few other projects are displaying much trading volume, although motoheadz is beginning to see interest in activity as well as USD Volume.
Optipunk, Apetimism, and Oliens have maintained strong USD volume overall and recently.
Overall, we see continual development in new NFT projects being introduced with approximately 1-4 being introduced each day.

\