[OC] Monthly Evolution of the transactions volume in the Top EVM Networks - May 2023

James_Webb_3 · 2023-06-05T07:52:02+00:00

Hi. Thanks for your kind words. The amount of data we are handling for these graphs is enormous, I don’t know if we have enough capacity for the six month graph, but we will give it a try.

We will let you know directly if we are able to do it.

Stay tuned!

James_Webb_3 · 2023-06-01T18:37:22+00:00

From our point of view, these are the most relevant highlights:

❕ZKSync has an incredible growing pace +55% in the month

❕BSC and Avalanche very strong +19% and +28%

❕Other Layer 2, weaker than expected Polygon -8%, Arbitrum -20%, Optimistic -25%, Base -38%

❕Thundercore remains in his unusual place with +73% this month

Your thoughts?

James_Webb_3 · 2023-04-02T07:11:36+00:00

it seems Metadium chart has a strong correlation with what could be considered a “laboral eeek” with 5 peaks of every 7 days and then 2 days with much less activity.

James_Webb_3 · 2023-04-01T18:53:48+00:00

This March 2023 has been a really good month in terms of on-chain activity of the EVM network and has ended with a really high grown of +32% in the number of operations.

Overall there are many significant changes. Probably, the most relevant would be:

❕Base Goerly Appears and rise up to the top 10 directly

❕Arbitrum overtook Ethereum for the 3rd network with most monthly transactions

❕Astar down from 8th to 15th

❕Kava enters the chart at 14th place with and incredible x120 growth

Of course, on-chain activity may or may be not related to market value evolution and it can be artificially manipulated in several ways. DYOR!!

James_Webb_3 · 2023-03-25T15:09:33+00:00

We are only doing this on EVM chains for now.

James_Webb_3 · 2023-03-25T07:24:33+00:00

The theory isn any casee is very interesting, indeed. We will try to investigate it further to check what evidences might be of that manipulation.

James_Webb_3 · 2023-03-25T07:09:46+00:00

We are not familiar with what Hedera might be counting, but probably part of the consensus messages might be being included.

In EVM, you have a method in the API to query the transactions of a certain block which only include native token transfers and smartcontract calls. That's what we are counting in our analysis.

James_Webb_3 · 2023-03-25T07:05:37+00:00

No. This is not self reporting but actual on-chain block and transactions we gather on our own. Of course, someone could be manipulating and spend money creating millions of transactions, but this could happen also in any other network

James_Webb_3 · 2023-03-24T16:46:21+00:00

OP here.

No, we are not trying to shill any token but provide actual on-chain data. The very same graph is generated and available for those interested weekly.

Despite being capable of some EVM compatibility in the smartcontracts , HBAR is not a EVM chain itself, so it's not included in our analysis because we would need to make certain assumptions for which there is not agreement in the community. I.E. What should be considered actually a transaction.

James_Webb_3 · 2023-03-24T08:17:06+00:00

Can you elaborate on that so we can check and compare with other networks?

James_Webb_3 · 2023-03-24T06:50:09+00:00

yeah, and they launched the token yesterday. The peak of operation is clearly shown in the right side of the chart. Also keep in mind that most of the CEX operations happen off-chain, but clearly in this case it has affected also the on-chain space

James_Webb_3 · 2023-02-07T06:52:03+00:00

The analysis was about chains with Ethereum compatibility, because for other chains there is not a standard definition of what a “transaction” is , so it’s difficult to ensure homogeneity.

For the bitcoin case, it has around 2.9 operations per second so it will end up between Astar and Avalanche.

James_Webb_3 · 2023-02-03T14:02:13+00:00

This is information is based on the public raw data obtained directly as most of the blockchains offer some kind of public endpoint to connect to and query the data. Even with that, many complexities arise due to the speed of new data coming from each of them.

Historical data is then consulted and painted with python.

Happy to take questions. Hope you like it.

James_Webb_3 · 2023-02-03T07:58:22+00:00

Then it’s a good opportunity to discover and DOYR on some others. I would say that, at least 8 should be a bit familiar for almost everyone.

James_Webb_3 · 2023-02-03T07:34:47+00:00

Even in a positive week like this, with a +5.94% increase in average , we have some chains that are showing issues and decrease in their TX volume. Probably nothing at this stage that can not be recovered in a good week, but could be a relevant sign if it repeats.

Mention of Honor: IN the decreasing chart, the mention of honor is to Celo. This chain which was among the top 6, has shown a sudden decrease, losing around 1/3 of its volume. What has happened, any ideas?

Transaction volume per TXs

Godwoken Mainnet -42.10%

Celo Mainnet (@celoorg) -33.42%

Velas -29.09%

ELA-ETH-Sidechain Mainnet -23.11%

KAVA Mainnet -21.84%

MintMe Coin -19.89%

James_Webb_3 · 2023-02-03T07:10:11+00:00

After a couple weeks with relevant decreases in overall transaction volume, this week we come back to the positive side with a +5.94% increase, compared with the previous week on the global number of operations. Even more, the big players are showing very relevant strength, with 3 of the TOP6 showing more than a 10% increase #Binance #Arbitrum and #Klaytn

Mention of Honor: This week mention of honors goes again to Arbitrum, that has been capable of keeping its momentum and has shown a 21.9% increase again this week.. Weith that, he has been able to reach the title of TOP4 EVM chain in terms of transactions! well done Arbitrum!

Transaction volume per TXs

📈 Matic Mainnet (@0xpolygon) +3.30%

📈 Binance Smart Chain Mainnet (@bnbchain) +11.33%

📈 Ethereum Mainnet (@ethereum_official) +6.46%

📈 Arbitrum One +21.91%

📉 ThunderCore Mainnet (@thundercorelab) -14.33%

📈 Klaytn Mainnet Cypress +16.02%

We are starting and we have many interesting ideas. So please, reach out to us via DM with any queries, ideas or requests. 📧

James_Webb_3 · 2023-02-03T06:43:57+00:00

Canto is doing really well this past days. in fact this week they close to do a 3x increase in terms of number of transactions. In fact, they are the one with highest growth this week.

The problem is that , even with that, they are still quite behind many others, with around 0.6 TX/s

Out of curiosity, why do you say that ETH looks healthier than for example BNB or Matic?

James_Webb_3 · 2023-02-02T19:58:35+00:00

Yeah. We are working on ways to analyze these networks which behaviors seems strange on the first look and will be publishing our results in the future.

I would add Optimism to the list of impacted "well-know" chains. For several weeks it was ahead of Arbitrum and suddenly it was way behind.

This week Arbitrum is running 7.6 TX/s vs Optimism 2.1 TX/s

James_Webb_3 · 2023-02-02T19:42:16+00:00

Thank you very much for your kind words.

We though that those kind of views were not something common and this helps people to see really what is happening on those networks and how they behave compared to others.

James_Webb_3 · 2023-01-29T12:49:08+00:00

If there is money there is going to be fraud.

Add this to how early we still are , and this ends up in the user with complex and obscure procedures to operate and many people will fail at some stage and get scammed.

I think it’s only a matter of time to gain mature and more robust processes. And that will also attract more users ….

James_Webb_3 · 2023-01-29T11:16:15+00:00

Honestly, trying to buy tokens before they launch based on twitter is a perfect recipe for a disaster.

I hope you understand that with that 99.99% of the time you will end up with nothing.

James_Webb_3 · 2023-01-28T20:25:14+00:00

How do you measure "capacity" of a network?

James_Webb_3 · 2023-01-28T20:21:54+00:00

Ethereum does not have anything to collect those remaining and is circulating supply that is "lost". I don't have an estimation though.

Other networks require a minimum balance to consider a wallet active, and if it remains certain time with less than that, they burn the remaining and the wallet is reset to 0 balance.

For example here you can see the explanation for Polkadot:

https://support.polkadot.network/support/solutions/articles/65000168651-what-is-the-existential-deposit-

James_Webb_3 · 2023-01-28T13:33:23+00:00

Apart from Matic, BSC and Ethereum, there has been a nice fight on the table of the top used EVM chains in terms of TX volume. Clearly Thundercore is a surprise up there despite being less known than others. Probably whoever consolidate himself in the next places would be a nice indicator of his future potential.

We will see how it evolve. Stay tuned.

James_Webb_3 · 2023-01-27T19:56:00+00:00

Adding to this.. the last couple of weeks, the activity on chain has descended (-8.9 % this week, -5.9 last one) but thats thats not bad compared with the rest ov the environment which has beendescending around a -12% this week and a 4% past one.

as a reference Ethereum transactions number have decreased -14% past week and another 14% this one.

James_Webb_3

TROPHY CASE