GM
Welcome to Issue #28 of Dune Digest.
We hope you’ve had a good week, and are ready for your weekly data fix that we have prepared for you.
By the way - we just hit 15,000 Discord members. It’s very lively in there, and a great community. If you haven’t joined, what are you doing? Come join us!
We’re going to look at some interesting projects, and some surprising trends. Let’s dive in……..
Ethereum - a Complete Overview
As you may know, our new data platform is enabling analysis that previously would not have been possible! This week, @hildobby demonstrated this with an ambitious dashboard that caused a stir.
The dashboard gives a complete overview of the Ethereum network, with high level data points for all the major pieces. Let’s take a look.
So, how big is Ethereum?
Right now, with a price of $2,746, the total market cap is at $326.8 Billion!
Some other impressive stats:
50.2 Million smart contracts deployed
14.7 Million blocks
1.56 Billion transactions
205 Million Wallets
There’s a nice visualization of token price, showing the 2021 bull run we all know and loved:
This is when the network really started to blow up. From the beginning of 2020 to today users have more than doubled, with 100 Million+ onboarded into the ecosystem.
The other side of the coin - that’s when high gas fees started to become an issue too:
A great dashboard. These queries would’ve never run in the past. With our new data platform - a lot of previously impossible analysis will become possible. Exciting.
Check out the full dashboard for a complete overview of Ethereum.
CryptoKicks
At the end of last year Nike secured a patent for “CryptoKicks”.
The patent describes a system that uses a blockchain to attach digital assets to a physical product - and will allow ownership of specific pairs of sneakers to be tracked and verified.
That seems to be the longer term plan at least……..
Nike has also been making strong moves towards the metaverse, in December acquiring RTFKT Studios - an NFT design firm. A few weeks back they launched their first product - RTFKT x Nike CryptoKicks on Ethereum - digitally wearable items designed for use in metaverse worlds.
@vitalspark released a dashboard this week covering things, let’s see how they’re doing!
In the last 24 hours - sales volume has hit $162,750 or 61 $ETH.
Over the past week, sales exceeded $3 Million from just 589 sales. Since the launch of the project, 2025 sales have generated just shy of $17 Million - not bad at all for virtual shoes!
Average and floor price has trended slightly downward overall - with the floor hovering between 1.8 and 2.5 $ETH for most of the time period:
Would you pay thousands of dollars for metaverse sneakers? Thousands certainly would it seems…….
Of 5513 total holders, more than 87% own one or two pairs, and only a handful own more than 10.
Nike is doing interesting work in its exploration of blockchains and metaverse, if they do crack a real system for tying physical objects to immutable chains - it could have a far reaching impact!
Check out the full dashboard for more.
Otherside - Secondary Sales go Brrrrrr
The startup behind BAYC, Yuga Labs, launched its Otherside metaverse mint over the weekend.
There was some serious controversy around the event. A dashboard by @Sealaunch helps to explain why.
Firstly, 1653 ETH was wasted on failed transactions. One unlucky minter lost 5.37 ETH in total!
There were 14285 failed transactions in total from 11828 wallets due to the intense congestion caused by the mint. Luckily, Yuga Labs is refunding all the losses.
Gas was crazy too. Another dashboard, Otherdeed Minting Gas War, by @sohwak, lays this out.
The highest successful transaction was a whopping 45,556 Gwei…… The lowest was only 190 but the vast majority paid 5-8k - vastly more than usual.
Total successful transaction fees totaled 60234 $ETH - more than $160 Million!
Despite the rocky start, Otherside is shaping up to be huge. @hildobby made a dashboard looking at the key stats.
Secondary market volume is already huge, breaking quarter of a Million $ETH and three quarters of a Billion $:
There are currently 33,977 Otherdeed holders, and there have been more than 26,000 secondary sales.
As for todays prices:
21.5 $ETH top
3.319 $ETH floor
3.85 $ETH median
The vast majority of action has unsurprisingly been going down on Opensea, but LooksRare has also captured a chunk:
As for minting - 97,403 have now been minted out of a 100k total. Over half (55k) were minted in a public sale, with 27.4k claimed by BAYC/MAYC owners. Of the remainder, 15% of the total supply is allocated to contributors with Yuga themselves holding more than 11.9k.
It will be interesting to see where this goes. Opinion is divided on the technicalities of the launch, but the subsequent buzz speaks for itself. Certainly the building blocks are there for something really impressive.
Check out these dashboards for more:
Otherside by Yuga Labs by @hildobby
Otherdeeds Minting Gas Wars by @sohwak
Failed Transactions and Gas Costs by @sealaunch
Orca Sees Massive User Growth
Solana continues to grow and is now a full fledged DeFi and NFT ecosystem.
There are 10 top DEXes on Solana - but which are coming out on top?
This week @twocrows put out an interesting dashboard that shows us the competitive landscape.
In terms of daily active users - until March the market was dominated by Orca, Raydium and Serum which collectively captured over 70% of the market.
Since then though one DEX in particular - Orca - started to grow its share significantly, and now accounts for more than 75% of Solana DEX daily users:
On Wednesday, for example, Orca had 136,478 active users. In second place, Raydium had relatively few at 13,179.
What happened? Orca went on a tear from early March, while the others stayed static:
During this same period, overall users of the Jupiter aggregator grew. But when broken down by DEX, Orcas rise is less striking:
So what accounts for the dramatic rise of Orca in raw DAU? Many are crediting it to StepN integrating with the platform for in-app swaps, lured to Orca by top-tier dev resources and a solid platform.
Orca certainly saw insane growth. Users grew by more than 20x in just 2 months, hovering around 5k in early March and hitting 132k yesterday!
This is impressive, and just goes to show how one event can drive a platform or protocol into the stratosphere in this industry.
Check out the full dashboard for more.
Stargate Multichain
Stargate is a composable native asset bridge, allowing users to transfer native assets across chains with instant guaranteed finality.
We’ve discussed Stargate a few times before - because it’s an interesting protocol and we get some great dashboards on it.
Previously Stargate dashboards were focused on specific chains, but this week @rplust released Stargate - Multichain View.
Check out the liquidity on different chains:
Ethereum: $417,033,552
BSC: $271,746,461
Polygon: $205,375,300
Optimism: $14,140,803
Liquidity has dropped on Ethereum from the early April highs when it cracked $1 Billion - but remains healthy:
How about usage? Interestingly, the top destination chain for Ethereum, BSC and Polygon is Avalanche. For Optimism the top destination is Ethereum.
A great dashboard on this omnichain favorite - check it out!
More Dashboards:
GN
Thanks for reading, we hope you got something interesting from this week’s edition and something to dive further into.
A special thanks to all the contributing Wizards!
See you next week for more. The data must flow……..