10 charts that capture the state of Ethereum 👇

Number of addresses with more than 1 ETH in balance hit an ATH on December 12th - at 1.179 Million wallets

It is currently at 1.170 million. Slight sell-off with retail folks likely booking profits

Source : @glassnode
(2/10 )

Number of new addresses is trending towards the previous ATH.

Its previous ATH was at 348k in Jan 2018.
As of today it is at ~152k

(notice how it goes parabolic in the previous cycle)

Source : @glassnode

The percentage in smart contracts is a good measure of how much of the network is "in use". Commonly this involves DeFi, ICOs etc.

This figure peaked in 2016 (i think with the DAO). During the ICO boom - i think ~4-6% of ETH was in smart contracts. it is at ~20%

The amount of ETH that is stagnant for 1-3 months has been on the rise. It is a good measure of how user behaviour on the network is changing. When we see upticks here, know that retail is going from speculating to holding

It is now at 17.3 million ETH
(5/10) Part of what is likely contributing to that is rising fees. The average cost for an Ethereum transfer has risen from pennies to over $22

This hits close to home considering I was looking at Ethereum as a solution to bank the unbanked. L2's it is

Source : @santimentfeed

Hopefully that comes lower as Eth2.0 takes off.
Over 3 million Ethereum tokens have been locked up in the staking contract by ~5500+ addresses.

Source : @santimentfeed

~27.5 million tokens are held between exchanges. Of which Coinbase has ~9million+ tokens.

Blockfi has ~200k tokens. An indication of the fact that lending desks are beginning to become large treasuries of their own

Source : @nansen_ai

The past year has been incredible in terms of number of Bitcoin's that are in wrapped variations on Eth network.

The count has reduced due to dips in yield + btc price surging. There is about ~123k Bitcoin in wrapped forms on Ethereum.

Source : @nansen_ai

I wanted to go into NFT but that's for another time - last chart. This query from @DuneAnalytics showing the total number of DeFi users. This was at ~200k when I and @eliasimos were computing estimates for a report in ~Jan 2020.

Its still early days with ~1.5 mil users

I promised ten charts so here's the last one from @TheBlock__'s data room- The Cex / dex volume %. As of today it is at 6%. Its peak was at ~20%. I assume a lot of that declining volume has to do with on-chain fees

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More from @joel_john95

11 Nov 20
Attended DeFi Alliance's liquidity mining pitch event organised by @QwQiao and @lmrankhan.

Here's the list of 12 teams in no particular order. 👇
@perpprotocol is building a uniswap meets bitmex experience. Has 1300 test users doing ~1.3 bil in volume so far. positioning to be a staple that helps third party projects hedge their assets (eg: harvest.finance)
@paraswap is positioning itself as an API based middleware layer for defi. Focused on the b2b angle. Building a network of market-makers and focusing on a l2 transition. Felt like a natural evolution of the off-chain rfq system kyber/0x used to do in 2017
Read 15 tweets
13 Oct 20

I crunched the numbers to see how blockchain ecosystem numbers are playing. Bulk of this data is oft-maligned with ICO / enterprise numbers so this is purely pre-seed -> series C figures from 2018 to Q3 2020. Some quick observations
Much like many other sectors, covid has indeed affected blockchain ecosystem funding in 2020. That uptick in Q1 is the result of Bakkt's $300 million raise. Image
The number of deals being closed in blockchain ecosystem has been reducing since 2019 in fact. Largely the result of ICO hubris settling down and more technical teams raising from fewer VCs. This does cause a concern for early stage ventures though. Image
Read 7 tweets
24 Sep 19
A drop in hashrate is often believed to be correlated with an immediate drop in price. Played around a bit with @thetokenanalyst numbers - and it seems the correlation isn't as strong as we think it is.

Specifically took the last six months.
Looking at late 2018 - there has even been 1 instance where price dipping and a spike in hashrate happened on the same day
I don't want to do TA on % difference, but here's how the graph looks for the last quarter (and yes the recent dip did have a hashrate decline associated with it)
Read 5 tweets
10 Jun 19
Prior to G20 meeting in Osaka, it seems the Financial Stability Board has issued their report on decentralised financial technologies. They have summarised definition and after effects for permissioned and non-permissioned networks alike. Summarising key points in a thread.
Quick Context - During the last G20 summit, the FSB was to release metrics around key numbers banks had to disclose around exposure to the token market. Given the slump, that may have not happened. Here's their statement from March 2018 - fsb.org/wp-content/upl…
The new report defines decentralisation in three broad scenarios for financial markets

1. Decision making aka governance (DAO?)
2. Decentralisation of risk taking - aka platform risks (DEX?)
3. Record keeping - aka data storage and custodial risks (DIDs ?)
Read 14 tweets

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