GM
Welcome to Issue 18 of Dune Digest!
Last week some of the team, including co-founders Fredrik & Mats were enjoying ETH Denver - which seems like it was a huge success 🎉
Fredrik also gave a short talk on Dune & the potential of crypto data, check it out:
We also recorded a podcast with Dune Wizard Richard Chen. It’s a great discussion covering:
Richard’s experience as both a crypto VC & a Dune Wizard
NFT & DeFi trends
Richards advice to investors & analysts
Check it out:
Now let’s get into the dashboards of the week!
X2Y2
We covered new NFT marketplace X2Y2 last week, but we’ve had some interesting updates and new dashboards since.
@moreonenight put out an interesting dashboard comparing the fledging platform with its main competitors - LooksRare & OpenSea.
Firstly, X2Y2 volume started becoming noticeable compared to LooksRare around the middle of last week on the 15th of February - and reached a parity on the 19th before dropping relatively since:
As you’d expect, both have been absolutely dwarfed by Opensea which captured between 97 & 99% of volume consistently. Still the king, for now at least.
Note that in this dashboard, the creator has excluded zero royalty collection data for LooksRare.
When we look at raw volume from another dashboard by @zxsasha the picture is different - with LooksRare appearing very close to OpenSea’s volume (with X2Y2 barely registering):
This is despite the fact that the number of OpenSea active users, as well as the number of transactions, vastly exceeds that of LookRare:
This is explained by the token farming & wash trading activities that LooksRare has unfortunately become a byword for.
As for X2Y2 - volume, transactions & active users all appear to be plateauing over the past week or so, but it’s too early to form a conclusion about its success and potential from the data we have so far. You can check for yourself in the dashboard.
This dashboard by @sohwak, covering token X2Y2 toke distribution, is also well worth a look.
The Doggies
The one and only Snoop Dogg launched a 10k NFT collection called “The Doggies” on Tuesday.
The project is a collaboration with The Sandbox and can be used as avatars in its metaverse.
@travenesia made a nice dashboard tracking the project…..
So far there have been 6,267 weekly sales, generating a whopping 4,571 ETH in volume.
Over the past few days the floor price has remained reasonably stable, peaking on Wednesday at 1 ETH and fluctuating in the 0.6 - 0.7 range since - currently sitting at 0.62 ETH:
There are currently 7,230 holders - and still a few thousand left to be minted.
Check out the full dashboard for more!
OpenSea Phishing attack
While we’re on the topic of NFT marketplaces, you may have heard that there was recently a phishing attack on OpenSea.
Sadly many NFTs were stolen. @Jelilat built a dashboard tracking the fallout…..
The key part of this dashboard is a visualization of the stolen NFTs by project:
The hardest hit were Azukis (37 stolen) & NFT worlds (25 stolen) - and there’s a long tail of many others where 1-3 were taken.
There was some media commentary around the event, with Bloomberg Crypto suggesting that OpenSea activity “dropped precipitously” as a result.
OpenSea disputed this data, adding in a statement:
“For more accurate & complete data, please refer to Dune Analytics”
To investigate further - Richard Chen’s OpenSea dashboard is an excellent resource, & @pierreYves_Gendron’s metrics are also enlightening……
Solana NFT Marketplaces
Although we’re still refining our tables, there have been some cool Solana dashboards popping up this week.
One by @brownboy - Solana NFT Marketplace Transactions - that tracks transactions across all Solana NFT markets over the past 30 days!
MagicEden remains the #1 player, capturing the highest market share over the past 7 days:
MagicEden dominance was previously much higher though, typically at 80-90% of transactions, and it seems that Solanart & Solsea are both gaining ground:
This is largely due to a significant drop in both overall transaction count and MagicEden transactions specifically. There was a sharp drop in the past week:
While rivals like Solanart seem relatively unaffected:
To investigate further - check out the full dashboard!
Euler Finance
Euler finance is an interesting DeFi lending platform with some neat features.
Users can borrow multiple assets and also post multiple forms of collateral simultaneously. Listing is also permissionless, allowing for markets of niche tokens and assets.
@shippooordao put out a comprehensive dashboard on the protocol recently.
With close to $50 Million in TLV, Euler seems well-established. This has almost doubled since the start of 2022:
Adoption metrics are also looking good with 2,756 total users - also up 100%+ since the beginning of the year:
There are 43 markets currently - and total borrowing volume is over $70 Million, with almost $7 Million borrowed in the last 24 hours!
For a ton more stats and an in-depth breakdown of Euler, check out this awesome dashboard.
More Dashboards
GN
Thanks for reading everyone - and as always a special thanks to all the Wizards for their contributions.
See you next week for more dashboards, more data, and of course more 🧙🧙🧙