Overview:

Q82. The second week of May saw some huge volatility in the market and prompted many to sell their volatile assets and take a flight to safety.

What did the volume look like in decentralized exchanges on ethereum during that period? Which assets were being sold/bought the most?

Approach:

In this essay, the performance of DEXs on Ethereum during market volatility has been investigated in details.

The methodology of this content including the following steps:

• DEXs on Ethereum

     select PLATFORM
     from flipside_prod_db.ethereum_core.ez_dex_swaps
  

• Capture fee

     from flipside_prod_db.ethereum_core.ez_dex_swaps by joining
     flipside_prod_db.ethereum_core.fact_transactions on it based on TX_HASH
  

• Most sold assets

     Select SYMBOL_IN,
     sum(AMOUNT_IN_USD) as volume of sold
  

• Most bought assets

     Select SYMBOL_OUT,
     sum(AMOUNT_OUT_USD) as volume of bought
  

• Price analysis:

     from flipside_prod_db.ethereum_core.fact_hourly_token_prices
  

• Market volatility period

     BLOCK_TIMESTAMP between '2022-05-07' and '2022-05-14'
     
  

Results:

Analysis by platform:

This section provide and analysis about DEXs on Ethereum and their performance during market volatility.

According to the outcomes of graphics it can be concluded that:

• The highest level of swaps happened on May 13 which is over 4 billion USD.
• On May 9, the swap volume was near 1.5 billion USD and its the second day with most swap volume in market volatility.
• The captured fee by platforms reveals the increasing volume of fee in market volatility.
• The highest amount of captured fee by platforms occurred on May 12th and its because of huge congestion on transactions.
• The number of unique swappers was over 200 in market volatility.

Assets sold most:

The assets that sold most during market volatility have been displayed in this part.

According to the graphs of this part:

• The PN token is the most sold asset in market volatility.
• WETH and USDC are the next most sold assets.
• The daily bar graph reveals that the highest volume of sold occurred on May 13 with around 4 billion USD.
• The price of assets that most sold are very fluctuated during market volatility and people wants to sell them.
• People usually sold their volatile assets and wants to kept stable ones.

Assets bought most:

Three graphs demonstrate the assets that most bought on market volatility.

According to these contents:

• The WETH token is the most bought asset.
• USDC and USDT as stablecoins stands in the second and third ranks.
• The volume of bought reached it maximum level on May 12.
• The price of assets that bought most are consistent in comparison with other assets and this is why people usually bought them.
• People usually swap volatile assets to stable and leading assets.