What Will You Read?

In this Analysis, You will read about NFT wallet behavior on Flow and comparison to Solana and Ethereum chains. We want to know the wallet behavior for buying and selling NFTs on Flow compared to Ethereum and Solana. Is there more or less "whale" activity on Flow compared to each of the other chains?

What do "whales" tend to focus on in Flow? How common is "flipping" on Flow (selling within 24 hrs, within a week etc) compared to other chains, or do wallets tend to hold onto their NFTs? Are wallets more interested in new projects, or already existing projects on Flow?

What is Flow?

What is Flow? Flow is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, apps, and the digital assets that power them.

**Analyzed By Hess - Reading Time Almost 10 Min \n **

Method

I have used my previous method for this question but add more content and new visual.

For basic Metrics like buyer and sales volume, I used NFT tables in each blockchain.

• Whales Definition: The top 300 wallets that spent more volume on NFTs are Whales in each network. So we have 100 wallets for FLow, 100 Wallets for Solana, and 100 Wallets for Ethereum as whales.
• Old or New NFT: Flow NFT real data started on May 9th. So to compare fairly, I analyzed blockchains from May 9th until the current date.

For the last question, I did it in two ways. First, I compare three blockchains to find did whales buy from Old collections or new collections. Before 2022 is old, and after that is new.

Especially for Flow, Before June 2022 is Old and after that is New.

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Daily Unique Users

• In total, The average number of unique buyers on Ethereum is higher than Solana and Flow.
• All three chains faced decrease from June 10th.
• From July 13th, the total NFT buyers on Flow decreased significantly.

Total and Cumulative Daily Sales Volume

• The Volume on Ethereum is far from Solana and Flow. It is normal because NFTs started on Ethereum and expensive collections live there.
• From the Previous chart, we understand that total sales from June 10th decreased, but it seems volume didn’t change too much.
• Flow's highest sales volume was 1M US dollars on May 19th. Ethereum's highest sales volume was about 220M dollars on May 10th, and Solana's Highest sales volume was 20M US dollars on May 24th.
• Recently Flow and Solana Volumes decreased significantly, but Ethereum Volume increased.

Whales Activities

• The top 300 wallets based on total sales volume are my whales.
• The richest whales live in Ethereum. The daily average volume was 25-30M dollars.
• Solana is in second place, and Flow is in third place.
• Recently, The Ethereum sales volume increased but Flow and Solana decreased.

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Whales Vs. Fish (FLOW)

• We already know my Whales definition. 28% of sales happened on Flow by whales. It means 2K whales are higher than other users.
• Almost, Users volume was double and triple the Whales.
• The highest sales happened on May 26th with 1.9M dollars.

• Users on Solana hold their NFTS more than other chains. They holds average 7 days. Flow users hold about 5 days and Ethereum nearly 1 day.

Flipper

• The number of flippers sold their NFT in less than a week on Flow and Ethereum.
• Ethereum had more flippers in comparison to Flow.
• Users in May were more flipper in comparison to July.

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Unique Buyer

• Ethereum has 490K unique Buyers, Solana has 265K, and Flow has 68.8K unique Buyers.

Ethereum with 56% of total transactions is in the first place. Following Ethereum, 35% of total transactions are for Solana, and only 9% of transactions belong to Flow.

• 56% of sales volume was on Ethereum, 34.5% was on Solana, and 9% was on Flow.

• What is clear is that Flow whales are the most active wallets in all three chains. The total sales volume on Ethereum was indeed higher than on other chains but the number of unique users in daily activities is much higher than on Solana and Ethereum. 92% of sales happened on Flow.

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Daily Number of Whales sales

• 12.8% of total sales made by Flow whales. 87% of total sales was by Normal users.
• The total number of daily normal users decreased since May 28 but whales didn’t change too much.
• Recently on July, We can see again normal users uncreased.

Thank You For Reading!

ALL CONTENTS and Codes provided by Hess

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Top Collections based on Whales Activities

• TopShot is is the most popular NFT collection that whales spent their money on it.
• 87% of total number of sales and 76% of total volume was on TopShot.
• The second popular Collection for Whales is Allday.

Old Vs. New Collections ( Whales - Top 300 )

• Ethereum: Ethereum users prefer old collections in comparison other network.
• FLOW: All whales on Flow user 100% new collections.
• Solana: On solana the numbers are similar to each other. 250 Users bought from Old connection and 300 users have bought from new collections.

Conclusion

• Whales on Flow were more active in comparison to Ethereum and Solana. They have the highest number of sales in the daily chart.
• Ethereum had the highest amount in USD.
• The highest average day of holding is about seven days on Solana.
• Users were more flipper on Ethereum in Comparison to Flow.