Not Your Keys

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    Axelar provides a decentralized network and tools that help connect dApp builders with multiple blockchain ecosystems, applications, and users for frictionless cross-chain communication. Axelar consists of a protocol suite, tools, and APIs, designed to break down the barriers to cross-chain communication.

    Powered by a decentralized open network of validators, anyone can join the network, use it, and build on it. The Axelar network makes cross-chain communication as simple as using HTTP/HTTPS protocols on the web.

    Platform developers can plug their blockchains into other ecosystems, and application builders can leverage a simple protocol and API to access global liquidity and communicate with the entire ecosystem.

    The Axelar team has deep roots in distributed systems, consensus, and cryptography. The venture is backed by Binance X, Coinbase Ventures, DCVC, Lemniscap, Collab+Currency, North Island Ventures, Divergence Ventures, Cygni Labs, and others.

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    FTX Exchange is a leading centralized cryptocurrency exchange specializing in by-products and leveraged products. Founded in 2018 by MIT graduate and former Jane Street Capital international exchange-traded funds trader Sam Bankman-Fried, FTX offers a range of trading products, including derivatives, options, volatility products, and leveraged tokens.

    On Wednesday last week, an article in CoinDesk, a crypto industry news service, started trouble. It claimed that the balance sheet of Alameda, a crypto hedge fund owned by FTX’s founder, Sam Bankman-Fried, held billions of dollars worth of FTX’s cryptocurrency, FTT, and had been using it as collateral in different loans. If this were the case, a fall in FTT’s value could damage both businesses, given their shared ownership. But FTT had no value beyond FTX’s longstanding promise to buy any tokens at $22, prompting fears that the whole institution was a castle built on sand.

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    from axelar.core.fact_msg_attributes
    from crosschain.core.fact_hourly_prices
    
    where ATTRIBUTE_KEY = 'destinationChain'
    and TX_SUCCEEDED = 'TRUE'
    
    case when attribute_value like '%uaxl%' then 'AXL' 
    when attribute_value like '%uusdc%' then 'USDC' 
    when attribute_value like '%ibc/6F4968A73F90CF7DE6394BF937D6DF7C7D162D74D839C13F53B41157D315E05F%' then 'UST' 
    when attribute_value like '%ibc/9117A26BA81E29FA4F78F57DC2BD90CD3D26848101BA880445F119B22A1E254E%' then 'ATOM' 
    when attribute_value like '%weth-wei%' then 'ETH' 
    when attribute_value like '%ibc/4627AD2524E3E0523047E35BB76CC90E37D9D57ACF14F0FCBCEB2480705F3CB8%' then 'LUNA' 	
    when attribute_value like '%wbtc-satoshi%' then 'WBTC'  end as assets 
    
    where MSG_TYPE = 'coin_spent'
    
    case when attribute_value like '%uaxl%' then cast(REPLACE(attribute_value, 'uaxl', '') as INT) / power(10, 6) 
    when attribute_value like '%uusdc%' then cast(REPLACE(attribute_value, 'uusdc', '') as INT) / power(10, 6)    
    when attribute_value like '%ibc/6F4968A73F90CF7DE6394BF937D6DF7C7D162D74D839C13F53B41157D315E05F%' then cast(REPLACE(attribute_value, 'ibc/6F4968A73F90CF7DE6394BF937D6DF7C7D162D74D839C13F53B41157D315E05F', '') as INT) / power(10, 6)   
    when attribute_value like '%ibc/9117A26BA81E29FA4F78F57DC2BD90CD3D26848101BA880445F119B22A1E254E%' then cast(REPLACE(attribute_value, 'ibc/9117A26BA81E29FA4F78F57DC2BD90CD3D26848101BA880445F119B22A1E254E', '') as INT) / power(10, 6)    
    when attribute_value like '%weth-wei%' then cast(REPLACE(attribute_value, 'weth-wei', '') as INT) / power(10, 18)  
    when attribute_value like '%ibc/4627AD2524E3E0523047E35BB76CC90E37D9D57ACF14F0FCBCEB2480705F3CB8%' then cast(REPLACE(attribute_value, 'ibc/4627AD2524E3E0523047E35BB76CC90E37D9D57ACF14F0FCBCEB2480705F3CB8', '') as INT) / power(10, 6)  
    when attribute_value like '%wbtc-satoshi%' then cast(REPLACE(attribute_value, 'wbtc-satoshi', '') as INT) / power(10, 9) end as bridge_amount
    
    case when day <= '2022-11-07' then 'Before Ftx'
    when day >= '2022-11-08' then 'After Ftx'
    

    Bridge

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    :key: Key finding :key:: The total number of bridges after the FTX crash is more than before the crash.


    :key: Key finding :key:: The USD volume of total bridges after the FTX crash is more than before the crash.

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    Number of transactions

    • The highest number of transactions was on November 9th. On this day, the total number of transactions was 2703. This day was the day after the FTX crash had been announced.
    • The highest number of transactions before the crash was on November 4th, with 1660.
    • The least number of transactions was on November 6th. This day was before the crash.

    USD volume

    • The highest USD volume of bridges was on November 9th (the day after the crash), with 12.8 million
    • The highest USD volume of bridges before the crash was on November 4th, with 3.1 million.
    • The least USD volume of bridges was on November 6th, with almost 1.5 million. This day was before the crash.

    Average USD volume

    :key: Key finding :key:: The average USD volume after FTX is more than before FTX.

    • The average USD volume was the most on November 9th. On this day the average USD volume was 3354.

    Median USD volume

    Maximum USD volume

    :key: Key finding :key:: The Maximum USD volume after FTX is more than before FTX. The maximum volume after the FTX is 611 k and almost 2.8x more than the volume before FTX.

    • The maximum USD volume was the most on November 10th. On this day, the maximum USD volume was 611.2k.

    Transfer per destination

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    Number of transactions

    :key: Key finding :key:: The highest number of transactions was on November 9th. On this day, most of the transactions went to Ethereum. The total number of transactions that went to Ethereum was 812.

    • In total, most of the transactions goes to Osmosis over time. 7999 transactions goest to Osmosis.

    USD volume

    Average USD volume

    :key: Key finding :key:: The average USD volume is the most on Ethereum. The average USD volume of Ethereum is 4720.

    • The average USD volume was the most on November 10th. On this day, the average USD volume of Ethereum was the most, with 8378.

    Top Symbol

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    Transfer from FTX to ETH

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    :key: Key finding :key:: The highest number of transactions that transfer from FTX to Ethereum was on November 7th.

    Top destination

    :key: Key finding :key:: The highest USD volume of all transactions was on November 9th. On this day, the USD volume of Ethereum was the most, with 11.3 million.

    In total, the USD volume of ETH is the most, with 47.2 million.

    :key: Key finding :key:: The top token that had the most number of transactions is AXL. The total number of transactions is 25.2k.

    :key: Key finding :key:: The top token that had the most USD volume is USDC. The total USD volume of this token is almost 54 million.

    :key: Key finding :key:: The average USD volume of ETH is the most in total. The average USD volume of ETH is 7748.