Question:

A new sector of NFT marketplaces have begun to gain popularity on Solana, the NFT AMM. One of the most notable NFT AMMs on Solana so far is Hadeswap.

Create a definition for 'wash trading 'and use that to track sales activity on Hadeswap with our newly curated models in the NFT sales table. How much of the volume seems "legit"? Are there certain accounts that seem to be creating the majority of the volume? What collections have had the most activity on Hadeswap, and how much of that was from 'wash trading'?

Now that Magic Eden has moved to 0% royalties, compare Hadeswap 'wash trading' to wash trading on Magic Eden. Does an AMM create more wash trading? \n

About Hadeswap marketplace:

Solana is an open-source, public blockchain that supports smart contracts, peer-to-peer tokens (NFTs), and a wide range of decentralized applications.

The NFT automatic market mover (AMM) named Hadeswap is going to be very popular in near future due to the low marketplace fee.

> In twitter it said that: > > It's an Automated Market Maker (AMM) NFT marketplace that improves NFT liquidity and trading. It allows users to trade and swap NFTs using liquidity pools, exactly like you would trade and swap crypto using Uniswap.

Methodology

The Flipside date has been utilized to execute this analysis.

Some of the metrics are introduced and simple but other methods used in this dashboard are:

• The moving average for 7-days

  avg(average_volume) OVER (ORDER BY day ROWS BETWEEN 7 PRECEDING AND CURRENT ROW)

• Sale and purchaser count

• Top NFT collections determination

• Define wash trading and compare it with regular trading

• Comparison of Hadeswap and Magic Eden marketplaces

The analysis is done for the past 30 days coincided with start of Hadeswap activity.

About wash trading:

Its and important part of each analysis specially on crypto universe to investigate on organic transactions and distinguish them with other unnormal transactions on network.

When we talk about NFTs and marketplaces its vital that distinguish the wash trading and regular trading on marketplaces specially concentrated on Hadeswap.

For this purpose, first of all we should define wash trading:

• Wash trading called for trading of NFTs that occurred between two users (accounts).
• Means that they buy and sell one single NFT between each other and it can be considered as wash trading activity.
• Find out the NFTs with unique purchasers and sellers that repeat over time.

Part 1: Sale stats (Overall and over time)

Findings:

First of all, lets see the daily and general stats of sale on Hadeswap marketplaces on Solana ecosystem:

• The highest sale volume in SOL occurred on October 9 with over 12.78k SOL volume.
• The October 7 is the busiest day from the sale count aspect on Hadeswap NFT marketplace.
• The average sale price reached its highest value on September 22 with over 50 SOL.
• The 7-day moving average of sale price reveals the decreasing trend of sale price on Hadeswap NFT marketplace.
• The grow rate analysis shown the increasing and promising movement of sale on Hadeswap marketplace.

Part 2: Wash trading on Hadeswap

Findings:

According to the definition of wash trading earlier parts, the outcomes related to the NFT sale on Hadeswap have been stated as below:

• About 45% of sales on Hadeswap marketplace belong to the wash trading sales and rest of them are regular sales.
• The highest count of sale for wash trading happened on October 7.
• About 84.14k SOL has been appointed to the wash trading sales on Hadeswap marketplace.
• The ABC and critters cult are the most popular NFT collections for wash trading on Hadeswap.
• The most active purchaser for wash trading is ==ExLwb7XdE8B6Bp1ZuSBorHjLLY85b7TdKB58wdBJhUE1==.

Part 3: Comparison of Wash trading on Hadeswap and Megic Eden

Findings:

The comparison between Hadeswap and Magic Eden marketplaces are as below:

• The Hadeswap has been dominated the wash trading in sale volume and count aspects as can be seen.
• On October 17, the highest sale volume of wash trading on Magic Eden occurred by 14 sale counts.
• The Okey bears and DeGods are the most popular NFT collections for wash trading on Magic Eden marketplace.

Conclusion:

• To pump up the Hadeswap marketplace about 45% of sale on this marketplace belong to wash trading.
• The Hadeswap has been used for wash trading more than Magic Eden marketplace.
• Because of the popularity of Magic Eden, the well known collections used for wash trading on Magic Eden.
• The Magic Eden marketplace start to use for wash trading recently due to the moved to 0% royalties by this marketplace.

Useful links:

• NFTs on Solana
• Hadeswap marketplace
• Hadeswap twitter

Findings:

• The ABC or Abracadabra NFT is the most popular NFT collection by total sale volume with 69 unique purchasers on Hadeswap marketplace.
• The most expensive NFT collection between most popular collections of Hadeswap marketplace is the Okay Bears collection with over 46 SOL as average sale price.
• Among top NFT collections on Hadeswap marketplace, the ==famous fox federation== has promising and increasing trend between collections.

Author:

Credited by MZG

Discord handle: m.zamani#0361

Twitter handle: @GargariZamani