Osmosis Comprehensive Report Q1 2024

Hey! I’m one of the founding member of Pyor. We’re a blockchain analytics firm and we work with protocols by giving high-fidelity insights. We have our own data product which we use to perform analysis and deliver insights to institutions like Ribbit Capital, CitiBank, and Goldman Sachs.

We recently just published a Osmosis Comprehensive Report for Q1 2024, covering metrics like Financials, Operational, Users, Trading Pools, Valuation, Market Data which we procured through collaboration with the internal Osmosis Team.

To read the report-

Here are some of the points which are worth the mention -

→ Operational
Over the past year, the Osmosis decentralized exchange (DEX) demonstrated notable growth in trading volume and swap counts. The appchain reached its peak trading volume on December 26, with an impressive figure exceeding $102 million.

The daily trading fee on Osmosis DEX has demonstrated a pattern similar to the trading volume. The highest amount of daily fee occurred in the second week of December 2023, indicating peak trading activity and revenue generation for the platform.

→ Users
Osmosis demonstrated impressive growth in attracting new users, with a total of approximately 298,000 unique addresses joining the platform in the past 30 days, on average. To put that in perspective, that’s nearly 5k new addresses every month. New addresses have slipped off its growth trend of over 20k new addresses in early February to
under 10k in March.

→ Trading Pools
The top 20 trading pools on Osmosis DEX showcase a diverse range of assets and liquidity options for users. The axl.USDC-OSMO pool takes the lead with the highest trade volume over the past year, while the ATOM-OSMO pool comes in at a close second. Axl.USDC is the wrapped version of the USDC stablecoin using Axelar.

→ Financials
Since the beginning of 2023, Osmosis earned $8.1 million in trading fees. Interestingly, 31% of these fees came in the first quarter of 2023, with over $800k in trading fee per month between January to March 2023. These rest of the year (till December) saw muted generation of trading fees, at less than $500k in fee generated per month.

→ Valuation
Market Cap/TVL is a significant metric for evaluating the valuation of Osmosis DEX, as it compares the platform’s market capitalization to the total value locked (TVL) within its liquidity pools. This ratio provides insights into the relationship between the platform’s overall market value and the amount of assets committed by users to facilitate trading activities

→ Market Data
After hitting a low of $0.2 in October 2023, OSMO strongly rebounded to pushing past $1 less than two months later. Before this, the token traded above $1 for less than 3 weeks earlier in the year. This surge continued in 2024, with the token trading between $1.5-2. At it’s peak Osmosis hit a market cap of $1.2 billion.

Hope this was worth the read. If there is anything the community would like us to add or modify for the next reports, lets us know.