How is the second layer solution on Hive doing during these uncertain times? Is more Hive deposited or withdrawn from it. Lets take a look?
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Splinterlands and its tokens and pools are the main ones that drives most of the volume on Hive Engine but there are a lot of other apps and tribes. Since recently we have seen some NFTs apps build on as well.
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 on Hive Engine is 0.75% while on BeeSwap and LeoDex its 0.25%.
The period that we will be looking at here is 2022 - 2023.
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.
Overall it seems that the volume has been quite steady with an average 50k HIVE deposited daily. There seems to be a spike in the last weeks.
Withdrawals
Next the withdrawals. Here is the chart for the daily withdrawals.
On the withdrawal side we can notice a bit more volatility but still the numbers are around 50k HIVE daily, and some spikes here and there.
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 that there is an uptrend in August 2022, and a downtrend since then. In August the volume was almost 8M per month and in February 4.2M. Almost half since what it was in August 2022.
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 69% share of the cumulative volume (deposits and withdrawals). BeeSwap is on the second spot with 28%, followed by Leodex with only 3% for the month.
The official account still holds the majority share, and it is the most liquid from the above. BeeSwap is doing fine on the second spot.
HIVE Supply On Hive Engine
Here is the chart for the HIVE stored on Hive Engine.
As we can see prior to June 2021 there was under 500k HIVE stored on Hive Engine. Then it started to grow and with a few drops on the way, it has grown almost constantly to almost 7M at the end of 2022. There was a sharp drop recently and now the HIVE supply on Engine is growing back again. A total of 6.2M HIVE now on Engine.
With this growth Hive Engine is now positioning itself as one of the major place for HIVE liquidity and as a number four exchange for HIVE. Bittrex is now close to it, with 7M. If it surpasses it soon, it will become then no.3 exchange for HIVE, just after Upbit and Binance.
Top Accounts That Deposited
Here is the chart for the top accounts that deposited in 2023.
The @token-converter account is on the top with more then1.4M HIVE deposited in the period. This is an account that is connected with Splinterlands and their inner workings.
The @toni.point on the second spot with more than 200k HIVE, taking care of arbitrage 😊.
Top Accounts That Withdraw
Here is the chart for the top accounts that withdrew in the period.
@toni.point is on the top with 350k HIVE withdrawn in the period, making arbitrages. The @vugtis account follows closely with 310k HIVE.
HBD
What about HBD? HBD has been growing in adoption recently. How is the volume for HBD?
Here is the monthly chart.
Some ups and downs in the period with ATH reached in August with a total volume of 160k HBD. There was some HBD pumps in the period so this volume is probably a reflection of that.
There is also an increased volume in February 2023, that again is a result of the HBD movement in price.
There are few HBD pairs on Hive Engine with a decent liquidity like the HIVE:HBD, BEE:HBD and HBD:BUSD.
All the best
@dalz
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After Upbit and Binance it will be really cool if Bittrex is the No. 3 exchange for HIVE and Hive's growth will hopefully put Hive in a better position.
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Thanks Dalz, really useful stats. It would be good to get some more layer2 options on Hive.
Hive f*** yeah.
Love this community. So many aspects
Hive engine is a back bone of Hive ecosystem and currently Splinterland is dominating the hive engine as most of the volume is coming from splinterland and it's related accounts. It always good to see increased interest of users on app/dapps built on top of hive blockchain. thanks for sharing this informational overview.
Great post with great data. It would seem that the upward trend stopped in August 2022, but it seems to me that the data has been improving month by month lately.
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Leodex seems like such a waste.
Surely taking a larger chunk of the pie by increasing swap liquidity and lowering fees, could be made a profitable endeavour.
But in saying that, swap liquidity between all of the various wrapped tokens on BSC is another problem.
If only money grew on trees...
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This is exciting to see!
Excellent post! @dalz
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https://swaphive.github.io/swap/
.1%fee, and maybe pays you, if the balance is off.
This was very informative, thank you for the stats! Love looking at the charts and analytics for Hive!
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I too found this post interesting and full of useful information about what is happening in HIVE, at least on an economic level
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Hive Engine is basically a way to create a token on Hive for any community desired, as long as you have the design & tokenomics figured out
Interesting data and analysis as always.
I for SWAP.HIVE and HIVE conversion when there is liquidity I use https://uswap.app/ because the fees are 0.1%
!CTP
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Thanks for your reply and your feedback
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The hive engine is my most preferred, without stress. And having about $50k deposit daily is pretty an amazing. Hive is waxing strong and with many projects built upon it we hope that the coming days and weeks we will have an upward mobility.
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Thanks for this graphics! A person lear a lot with those publications!. Bring more of this
I love Hive Engine and am working on building up my WORKERBEE bag. I was stacking my !ALIVE but now the price is skyrocketing so I am converting and buying more WORKERBEE. I hope to build that for more passive income. Nw my stack is to small but the next crypto payment I receive I will buy up a chunk of them to help build my BEE bag too.
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@dalz! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @hankanon. (1/10)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
