The second layer Hive Engine keeps ticking along with more and more apps build on it. Splinterlands is the main one that drives most of the volume but there are a lot of other apps and tribes. Since recently we have seen some NFTs apps build on as well.
All the projects that we have mentioned above have contributed to increase the overall traffic, deposits and withdrawals from Hive Engine.
Here we will be looking at the volume that Hive Engine does in terms of deposits and withdrawals on the platform. It is a nice indicator of the state of the platform.
At the moment there are three major gateways for deposits and withdrawals on Hive Engine:
- Hive Engine (@honey-swap)
- LeoDex (@leodex)
- BeeSwap (@hiveswap)
The fee for deposits and withdrawals was recently reduced from 1%% to 0.75% on Hive Engine and it remains 0.25% on BeeSwap and LeoDex.
The period that we will be looking at here is Jan 2021 – Jan 2022
Deposits
For deposits we will be looking at the transfers to the Hive Engine @honey-swap account, @leodex and @hiveswap for BeeSwap.
Here is the chart.
The daily chart is a bit messy with a lot of spikes and ups and downs.
Prior to August 2021, the deposits were under 50k per day. Then in August they spiked a lot reaching more then 500k a day. Since then, the volume has been much higher. In the last month the average is around 120k per day.
Withdrawals
Next the withdrawals. Here is the chart for the daily withdrawals.
This chart seems to be following the deposits, just with smaller intensity.
Total Volume Per Month
If we take both the deposits and withdrawals and sum them up on a monthly level we get this.
This is a bit clearer representation.
We can see the growth starting from July and then a peak in August 2021, with more then 16M HIVE deposits and withdrawals to Hive Engine. In the last two months the volume has dropped a bit with just above 6M HIVE deposits and withdrawals in total.
The trend mostly follows the growth of Splinterlands.
BeeSwap seems to be gaining more traction, increasing it share in the last months.
Individual Platforms Share
Here is the chart for the share of the deposits of Hive Engine, LeoDex and BeeSwap.
The Hive Engine account @honey-swap has 54% share of the cumulative volume (deposits and withdrawals). BeeSwap is on the second spot with 41%, followed by Leodex with 5% in the period.
We can see that in January BeeSwap is increasing it share, in the previous reports it was around 20%.
HIVE Supply On Hive Engine
Here is the chart for the HIVE stored on Hive Engine.
Note: This is a sort of reverse engineered data, from the current HIVE balances and then net the deposits and withdrawals over time. There might be errors.
As we can see prior to June 2021 there was under 500k HIVE stored on Hive Engine. Then it started to pick up reaching 2.5M in August and an ATH in November with more than 4M HIVE. A drop since then at almost 3M HIVE where it is now.
Top Accounts That Deposited
Here is the chart for the top accounts that deposited in the last 30 days.
The @token-converter account is on the top with more then 500k HIVE deposited in the period. @toni.point and @smd-usd follows.
Top Accounts That Withdraw
Here is the chart for the top accounts that withdrew in the period.
@toni.point is on the top with more than 600k HIVE withdrawn in the period, making arbitrages.
HBD
What about HBD? HBD has been growing in adoption recently. How is the volume for HBD?
Here is the monthly chart.
As we can see the HBD transactions to and from Hive Engine have been growing up until recently and then a downtrend in the last two months. They reached more then 200k HBD in November. There are few HBD pairs on Hive Engine with a decent liquidity like the HIVE:HBD and HBD:BUSD. Hive Engine might be the best place to buy HBD these days for a non Korean users.
All the best
@dalz
Posted Using LeoFinance Beta
.
That and some incentives for LPs
If I'm interpreting your data correctly, there was just over 100K HBD traded over entire month of January. By contrast, looking at Hive internal market (https://wallet.hive.blog/market) there was over 48.7K traded just in past 24 hours. So it looks like there is much more liquidity on the internal market.
No this is data for deposits and withdrawals not trading volume. Basiclly transfers to and from the Hive Engine custodial account for HBD.
There was a total of 100k deposits and withdrawals to Hive Engine in January 2022.
About the trading volume and liquidity on HBD, I have it on my to do list and I plan to get a post and data soon on that one :)
P.S. Why I think hive engine might be better for buying hbd is becouse if for example you want to buy 5k HBD at once, the slippadge on HE will be lower then on the internal market. You will need to do multiple transaction per day to get that amount without moving the intrrnal market a lot.
Ok, it'll be interesting to see the trading data then. But I suspect it's not difficult to make multiple buys quickly to avoid too much slippage on the internal market, since I think there's a lot of bots trading there (I haven't actually tried that, though).
how can one buy so many hbd on HE as you mentioned?
looks like hive daily activities has increased
Buying HBD on beeswap should be the easiest with HBD-BUSD pair. I have used that route before and it works fine.
Imagine withdrawing 600k from hive engine. The 1% charges is wow. People don’t care anymore because I still the safest, easiest to navigate
Posted Using LeoFinance Beta
The treasure in this earthen vessel called hive is so massive. I'm actually seeing hive making it to 1hive to $7 before the end of the year and the membership moving to about 100k before the year runs out. I believe that with the charges on deposit and withdrawal, hive blockchain will build several new packages that'll take the blockchain to its desired height.
Thank you
Posted Using LeoFinance Beta
Hive is growing daily... hoping for the best
I’m happy for the growth.
gez leodex needs some serious TLC
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I like this post ,it really interesting.
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