What we can learn from the Feb — April 2021 $LUNA Bull Run

Defining the bull run period:

https://velocity-app.flipsidecrypto.com/velocity/visuals/d6807b0a-6577-4a5b-a87c-2b80f8e877f1/25a20a5d-26cc-4c9d-8b3c-51a7fc3961dd
https://velocity-app.flipsidecrypto.com/velocity/visuals/3bb85ef8-3b5c-47f7-80bf-476a7bd63812/18d70c1b-002d-43fe-ae58-3113f7a80a99

Number of buying and selling transactions for Luna:

  1. Black represents the daily price of Luna
  2. Red bars represent number of Luna-selling transactions
  3. Green bars represent number of Luna-buying transactions
https://velocity-app.flipsidecrypto.com/velocity/visuals/18e22b67-f028-42ba-8b89-a14933c910dd/d8e3563e-0e42-47f6-8086-c2c6cb89e41d

Volume of buying and selling for Luna in USD

  1. Black represents the daily price of Luna
  2. Red bars represent value of Luna sold in USD
  3. Green bars represent value of Luna bought in USD
https://velocity-app.flipsidecrypto.com/velocity/visuals/70793ab5-8872-45e3-8c56-39ef9b311592/d8e3563e-0e42-47f6-8086-c2c6cb89e41d

How many bought, sold or hodl-ed Luna?

  1. Red represents number of addresses that sold Luna for UST (14260)
  2. Green represents number of addresses that bought Luna with UST (9684)
  3. Blue represents number of addresses that bought Luna but did not sell during the 2 month period (2820)
https://velocity-app.flipsidecrypto.com/velocity/visuals/0291d378-93bb-4d83-aad1-45c663d7d651/08dc0f0d-31ce-4630-bb83-0046b27ccbbf

Summary of insights:

  1. There were more transactions to sell Luna rather than transactions to buy Luna
  2. Fomo buying is real — we see number of daily Luna buying increased during its peak between $18 — $21
  3. Volume of Luna sold (in USD) greatly outweighs volume of Luna bought. There are high volumes of profit taking as prices climbed 12x from the start of February to April 2021.
  4. There are 47% more sellers than buyers.
  5. Only 30% of buyers who bought Luna during this period did not sell any during this period too.

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Writing about Defi applications

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