Try Quests to earn cryptoOSMOSIS WHALES
Introduction
- In this analysis, You will read about Osmosis whales. Almost in every chain, Whales have a huge role in token and chain movement.
- We want to know how many whales are living on the Osmosis chain and what the activities are on the Osmosis chain.
- Also, I looked for Whale changes over time. Are the number of whales increased or decreased?
Analyzed by Hess - Reading Time Almost 8 Min.
What is Osmosis?
- Osmosis is an automated market maker (AMM) built on Cosmos that enables cross-chain transactions through Inter-Blockchain Communication (IBC). This gives the protocol an added layer of interoperability and composability. Unlike most existing AMMs, Osmosis is deeply customizable and allows developers to leverage many different changeable parameters to build truly unique AMMs that can dynamically fit a variety of outcome goals. Ultimately, Osmosis enables developers to design and deploy custom AMMs that can quickly adjust to changing market conditions and allow market participants to decide which iterations provide the most optimal results, rather than relying on the protocol itself.
Source:
Transfer activities by Whales
About three months ago, Binance listed the Osmo token. Following Binance, Other popular CEXs like Kucoin listed Osmo too. I tracked Osmosis whales and their transfer activities over the last year.
- Interestingly, the amount received was similar to the amount of send. Some of the whales only changed their wallets and moved their Osmo to the new Wallets, not CEXs.
- Since October 17, 2022, The activities of Osmosis whales have increased significantly. Before that, The total daily Osmo amount was below 5M Osmo, but after that became 6x higher and reached 31M Osmo. The highest amount of Osmo transferred on December 12 when Whales received 31M Osmo and sent 33M.
- Overall, Whales received 400m Osmo and sent 410M from January 2022 until January 2023.
Osmosis Activities by Whales
All the below activities were based on Osmosis Whales, not Normal users.
- The highest activity of whales until September 5 was a swap. Between 50 and 85% of whale transactions were swapped tokens. During April, Staking activity by whales increased from 4% to 20%, but quickly swap took staking shares.
- After September 5, The swap activities decreased to 52%, and Staking increased again to 40%. For almost one month, The stake activities remained at 30-40%, but after October, Transfer activity increased to 30%. It’s time for Liquidity. on Late November, Liquidity shares increased to 20%. Recently, In the New Year, 51% of transactions by whales were transferred and 41% were swapped. Others had below 5% shares.
Top Liquidity pools by whales
Whales had fewer activities on adding Liquidity, but I examined the top Pools to that users added Liquidity. Unlike normal users, NGM/Osmo was the top pool where whales added liquidity with 7.9K transactions. The second top poll was Atom/Osmo pool, with 5.6K transactions. The third top pool was USTC/OSMO pool, with 3.4K transactions.
Conclusion
- Based on the current balance, Osmosis has 375 unique whales. These holders hold more than 50K Osmo in their wallets.
- These Holders hold 669M Osmo in their wallets.
- From January 2022, Osmosis whales increased their Osmo by about 229M.
- 400M Osmo was worth 4B US dollars in January 2022, while 669M Osmo is worth 500M US dollars in January 2023.
- About 55% of top whales in 2022 remained among top whales in 2023.
- Some whales sold their Osmo, and some whales bought more Osmo over time.
- The highest activities of whales were transfer and swap.
- ATOM/EEUR was the top pair that whales used to swap.
- NGM/OSMO was the top pool for whales’ added liquidity.
- Most of their transfers were within the Osmosis chain, not out of osmosis.
Method
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The Important part of this analysis is to determine who a whale on the Osmosis chain is. When I’m writing this analysis, Osmo's price is around 1$. So, I extracted each holder that holds more than 50K Osmosis in their wallets.
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From osmosis.core.In the fact_daily_balances table, I extracted those users who hold more than 50K Osmo. Then, I joined my findings to other tables to find which activities had whales on the Osmosis chain.
Full Analysis
Whales on Osmosis
I have analyzed Osmosis whales since January 2022. Almost over the last year until January 2023. We want to know how whales increased or decreased over the last year.
- Based on the current balance, There are 375 unique wallets that hold more than 50K Osmo in their wallets.
- During January 2022, About 230 whales were living on the Osmosis chain. Over time, the total number of Osmosis whales increased. However, There were some ups and downs. Interestingly, when Luna and UST crashed in May, the number of whales increased significantly on the Osmosis chain. Before the Luna crash, Osmosis had 277 unique whales, but after the Luna crash, it Increased to 343 whales. The number of whales increased by 30% in less than a month. We can’t track Luna whales based on-chain data, but maybe some of them sold their Luna and moved to the Osmosis chain. As you may hear, the new Terra has a good relationship with the Cosmos chain. In less than 6 months, The total number of whales grew and reached to 439 in January. I didn’t find why but after January 17, The total number of whales decreased by 30%!
- On the other hand, I analyzed users’ Osmo balances since January 2022. In those days, whales hold 400M Osmo. Over time increased and after 1 year reached 690M Osmo. It seems those whales who left Osmosis had the minimum amount of Osmo ( 50K) in their wallets because the Osmo balance didn’t change too much.
- The average amount of Osmo per whale is 1.69M Osmo. The highest amount of Osmo held by one whale is 239M Osmo.
Unlike the total number of whales and daily balance, The average amount of Osmo held by whales decreased from 1.7M in January to 1.2M Osmo in June. After June increased again and recently reached 1.8M Osmo. On the other hand, The median balance increased from July until now.
- Until June 2022, The highest amount of Osmo held by one whale was 150M, but it recently reached 213M Osmo. The minimum amount of whales was 50K and remained at that amount.
Profit or Loss?
I calculated the Osmo balance in USD and compared it with the Osmo amount.
- 400M of Osmo was worth 4B US dollars in January 2022, but the 669M of Osmo is worth only 458M US dollars in January 2022. Like any other token, The Osmo price decreased over time and lost value. Overall, Osmosis whales lose more than 3.5B US dollars over time. As you can see, The total Osmo held by whales increased by 229M, but the value of Osmo decreased badly. In the next section, I will look at Whales changes. If a holder remained holder since January 2022, loses a lot of money!
I examined the top 10 whales in January 2022 and compared them with the Top whales in January 2023.
- Since then, 44% of whales changed, and 55.6% of top whales remained among the top 10 whales. So these 55% lost a lot of money in USD, but they still have their Osmo.
- Some of them remained in the top 10 whales but sold some of their Osmo and some of them bought more Osmo and increased its bag.
ALL CODES AND CONTENTS WERE WRITTEN BY HESS.
Based on transactions, 66.2% of the total transactions by whales were swapping. 19.9% was transfer and 8.17% was staking. The lowest share belongs to Superfluid staking. Whales on Osmosis had less activities in Superfluid staking.