Terra Altcoin Analysis: ASTRO
This dashboard aims to analyse the performance of ASTRO using three different metrics: price, number of transactions and volume.
Price
The price is of course the primary indicator of the performance of an asset, so that is the first metric we will look at. As can be seen below, the price of ASTRO has been on a steady downtrend since its launch. It seems that no support for the price had been found as of this moment, meaning that the price probably will trend even lower in the near future.
Astroport and ASTRO token
Astroport is an Automated Market Maker (AMM) on the Terra blockchain. Is it currently the largest DEX on Terra in terms of Total Value Locked (TVL) at about 800M. The native token of Astroport is ASTRO and is meanly used to incentivise users to provide liquidity on Astroport. About 50% of all ASTRO tokens are used for this.
Number of transactions
The number of transactions can be an interesting metric to determine the usage of a pool. In this case, we use the main ASTRO pool on Astroswap: ASTRO-UST. When looking at the graph below, we can see that the daily number of transactions of the ASTRO-UST pool is somewhat correlated with the price. In the first few days, the number of transactions was high but has been decreasing since then. A notable exception in January 26th, although it is unclear why the number of transactions that day was so much higher compared to other days.
Volume
Volume is an important indicator of how much an asset is traded in a given timespan. In this case, it is the total value of ASTRO in UST that has been traded per day. Notable here, unlike the other metrics in this dashboard, is that the volume has been sort of stable since January 1st, with no real significant trends up or down. The spike in the number of transactions on January 26 interestingly does not show up in the volume graph.
Conclusion
When looking at the metrics above, the prospects of the ASTRO token do not look great. While the volume has been sort of steady, the price and the number of transactions have been going down since the launch. The price has not found support yet, meaning it will likely trend even lower until there will be more buy pressure. On an optimistic note, we do have to keep in mind that Astroport only launched a little more than a month ago, so we do have to be careful when making prospects and judgement. There is still plenty of time for things to turn around.