Overview

In this dashboard we wanna find out Algo price correlate to BTC price or Algorand network usage?

Goals

• Algo price,transfers and Algorand transactions
• BTC price
• Sol price,transfers

Need to know

• WBTC contract(in ethereum) : 0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599
• WSOL contract(in ethereum) : 0xD31a59c85aE9D8edEFeC411D448f90841571b89c
• SOL contract(in solana) : So11111111111111111111111111111111111111112
• Time frame : last months(begin of 2022)

Analyze

I used payment_transaction,transactions,prices_swap and ethereum.core.fact_hourly_token_prices tables and by some filtering get all data about Algo price,Algo transfers,Algorand transactions and BTC price over time to see correlation between them,then used ethereum.core.fact_hourly_token_price table to get BTC,SOL prices and solana.core.fact_transfers table to get number of Sol transfer over time to show their correlation

• In below charts you can see correlation of Algo price to network transactions,Algo transfers,BTC price

• In below chart you can see Sol price correlation to BTC price and Sol transfers

Conclusion

• First of all i should say market situation and especially BTC price has huge impact on whole market and asset prices,as we can see because of BTC price has downtrend in last months all others data like Algo price,Sol price and also their network usage has downtrend over time
• Jan 24 to Mar 15 Algo price and BTC price has huge divergence
• Mar 23 to Apr 3 Sol price and Sol transfers has huge divergence
• Base of charts i see Algo price has more correlate to Algorand usage(Algo transfers or total transactions) rather than BTC price but this is different for Sol and you can see Sol price not very correlate to Sol transfers and totally relate to BTC price