JD Cloud Blockchain: Data Analysis on ETH Chain

Keywords of this month: Devcon5, the 18th collective study of the Political Bureau of the Central Committee.

On the afternoon of October 25, at the 18th collective study meeting of the Political Bureau of the Central Committee, General Secretary Xi Jinping pointed out that the blockchain should be used as an important breakthrough for independent innovation of core technologies, and accelerate the development of blockchain technology and industrial innovation. As the most popular public blockchain platform, Ethereum (ETH) will inevitably have more application scenarios in the future. In the following, the JD Cloud blockchain team will make a specific analysis of the data changes on the ETH chain.

As shown in the figure above, the price of ETH fluctuated violently this month, and there were two significant increases in particular, around October 9 and October 26.

The first growth: Devcon5 (Global Ethereum Developers Conference) was held in Osaka, Japan, from November 8th to November 11th. The conference held wonderful discussions on issues related to ETH2.0.

The second growth: On the afternoon of October 25th, at the 18th collective study meeting of the Political Bureau of the Central Committee, General Secretary Xi Jinping pointed out that the blockchain should be used as an important breakthrough for independent innovation of core technologies, and accelerate the development of blockchain technology and industrial innovation. .

On-chain transaction data:

Judging from the transaction amount data on the chain, its fluctuation track has a high degree of coincidence with the ETH price curve, and the transaction amount on the ETH chain has shown a significant growth trend throughout the month. The daily average value of on-chain transactions in the year is 2,227,573 ETH, but we can see from the figure above that the amount of on-chain transactions has started to fluctuate around 2,000,000 ETH at the end of the month. reach an even state.

As far as the number of transactions on the chain is concerned, we found that the fluctuation range is relatively flat compared with the transaction amount, but the relative peaks and valleys roughly coincide, that is, when the transaction amount on the chain increases, the number of transactions on the chain also increases. Its monthly trend is a steady increase.

From the perspective of the storage rate, a large amount of ETH has not been transferred on the chain. Only October 28th has a storage rate of 0.97 in the entire month, that is, 3% of the entire network’s ETH has on-chain transactions on that day. At other times in October, the storage rate was stable above 0.98. A large amount of ETH is still hoarded. In response to this phenomenon, JD Cloud BDS products define a large number of advanced indicators, such as dormant addresses: addresses that have not traded for 30 consecutive days.

On-chain address data:

The dormant addresses of ETH show a steady growth trend throughout the year, which shows that a certain number of ETH addresses are losing their activity every day and are included as dormant addresses. When a transaction occurs, the JD Cloud blockchain team formulates a large number of high-dimensional indicators that require complex calculations, such as death addresses and resurrection addresses.

The daily new addresses must be the active addresses of the day. As shown in the figure above, we can see that nearly 1/3 of the daily active addresses of ETH are the new addresses of the day. The fluctuation trend of the number of daily active addresses is also affected by the fluctuation trend of the number of new addresses. ETH daily new addresses and daily active addresses showed a relatively obvious downward trend in October. This seems to be contrary to the increasing number of on-chain transactions in October. In fact, it is not the main reason. It can be considered that most of the currency-holding accounts are old users, and not many new users hold ETH.

JD Cloud exclusive data:

The figure above shows the ETH transaction amount after excluding popular addresses. The above data comes from JD Cloud Blockchain Data Service [BDS].

JD Cloud stores the chained and unstructured data of the blockchain in a structured way through technical means, and synchronizes them to a high-performance database in real time, and accordingly launches a visual blockchain data query service (BDS) to help Users complete simple conditional queries and complex native SQL queries.
Features

. Covers dozens of well-known blockchain projects such as BTC, ETH, EOS, LTC, XRP, BCH, etc., and customizes 100+ exclusive data indicators involving users, transactions, blocks, etc., and can query real-time data on the chain when connected to the Internet. Ready to use, convenient and fast.

. Supports standard SQL query statements, and can easily realize complex query logic; relying on JD Cloud's software, hardware and architecture support, it also has the characteristics of fast query speed and high query efficiency.

Github open source address:

Product Portal:https://bds.jdcloud.com/

Github open source address:https://github.com/jdcloud-bds/bds