What Is Ethereum (ETH)?

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.

Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.

The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.

Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud [1].

Methodology

I will investigate Dexs on Ethereum network during 2022 and compare dexs together and realize which had better performance in terms of some key factors for example swap numbers, swappers and swap volume and trend of weekly of this data over time. moreover, I compare NFT marketplaces together and after it I will realize which Marketplace has spent the highest amount of gas fee during this period.

Link of my dashboard in twitter:

Introduction

What Is Uniswap (UNI)?

Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens.

An example of an automated market maker (AMM), Uniswap launched in November 2018, but has gained considerable popularity this year thanks to the DeFi phenomenon and associated surge in token trading.

Uniswap aims to keep token trading automated and completely open to anyone who holds tokens, while improving the efficiency of trading versus that on traditional exchanges.

Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems which plagued the first decentralized exchanges.

In September 2020, Uniswap went a step further by creating and awarding its own governance token, UNI, to past users of the protocol. This added both profitability potential and the ability for users to shape its future — an attractive aspect of decentralized entities [2].

What Is SushiSwap (SUSHI)?

SushiSwap (SUSHI) is an example of an automated market maker (AMM). An increasingly popular tool among cryptocurrency users, AMMs are decentralized exchanges which use smart contracts to create markets for any given pair of tokens.

SushiSwap launched in September 2020 as a fork of Uniswap, the AMM which has become synonymous with the decentralized finance (DeFi) movement and associated trading boom in DeFi tokens.

SushiSwap aims to diversify the AMM market and also add additional features not previously present on Uniswap, such as increased rewards for network participants via its in-house token, SUSHI [3].

What Is Balancer (BAL)?

Balancer is an automated market maker (AMM) that was developed on the Ethereum blockchain and launched in March 2020. It was able to raise a $3M seed round by Placeholder and Accomplice. Balancer protocol functions as a self-balancing weighted portfolio, price sensor and liquidity provider. It allows users to earn profits through its recently introduced token ($BAL) by contributing to customizable liquidity pools [4].

Uniswap

Sushiswap

Balancer

Observations

• the highest number of weekly swap numbers was in third week of October that in this week Uniswap v2 had about 840K swap and this is the highest swap numbers since 2022. it seems swap numbers on Ethereum Network has experienced upward trend since 2022.
• the highest number of swappers per week was in second week of Jan and on this week Balancer had the highest number of swappers with about 7K and after it Uniswap v2 had second place with about 260.
• the highest volume of swap volume was in first week of Jan and Uniswap v3 44.3B USD and after it Uniswap v2 had second place with about 3.16B USD. it seems from first week of Jan has experienced downward trend in terms of Swap volume.
• in terms of weekly fee amount, after third week of Jan fee amount of swaps has experienced downward trend.
• Cumulative Data: Ethereum Network has Experienced about 35.4M swaps since 2022, about 1M swappers, about 3T USD as Cumulative USD swap volume and about 2.4M USD as Cumulative USD fee since 2022.

Key Insights

• the Dex which had the highest swap Volume since 2022 was Uniswap v3 with about 504B USD and after it Uniswap v2 had second place with about 49.4B USD. also Uniswap v3 had about 82% ratio of all swap volume and after it Uniswap v2 had about 8% ratio.
• Synthetix had the highest average swap volume with about 535.5 USD per swap.
• Uniswap v2 had the highest number of swap numbers with about 20.5M and after it Uniswap v3 had second place with about 11.2M swaps and also Uniswap v2 had about 57.5% ratio of all swap numbers and after it Uniswap v3 had 31.5% ratio.
• Opensea had the highest number of NFT sales numbers since 2022 with about 24.5M and definitely has beaten all marketplaces since this Marketplace had about 94% ratio of all NFT sales numbers during this time.
• Also Opensea had the highest amount of sales volume (USD) with about 31.7B USD and after it Looksrare had about 24.4B USD as sales volume. also, Opensea had about 50% ratio of all swap volume and Looksrare had about 39% ratio.
• in terms of Average sales volume (USD) Larva Labs had the highest amount of Average sales volume with about 166.3K USD and after it Looksrare had second place with about 82.3K USD.
• in terms of trend of NFT sales numbers it seems during this period NFT sales numbers has experienced downward trend and the highest number of sales numbers belonged to Opensea and this Platform was leader of swap numbers per week.
• moreover, in terms of Weekly sales volume it seems trend of sales volume after Jan 2022 Ethereum Network has experienced downward trend until now and in the beginning of year Looksrare had highest amount of sales volume per week and has beaten Opensea in the first month of 2022.
• Cumulative Data: Totally Opensea has experienced about 17M sales transactions since 2022 and after it x2y2 had second place with about 927K transactions in this criteria Opensea has beaten others marketplaces. in terms of Cumulative Sales volume, Looksrare has experienced the highest sales volume with about 24.4B USD and after it Opensea has second place with about 18.2B USD. in this criteria Looksrare has beaten Opensea and this is eyes catching.
• in terms of weekly Mint numbers, Ethereum Network has experienced downward trend since 2022 and Opensea had Leader of all week during this period.
• it seems Gas consumption of NFT Marketplaces on Ethereum has not have clear trend and sometimes experienced upward trend and sometime downward trend but in all weeks Opensea was leader of Gas Consumption during this period.
• Cumulative Data: Opensea has spent about 11T USD as Cumulative Gas Consumption during this period and after it X2Y2 has second place with about 1.8T USD.
• in terms of Platform fee, Looksrare had the highest amount of Platform frr with about 486.5M USD and after it Opensea had about 453M USD as platform fee.