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EasterBunny

Tracking xRapid Volume?

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1 hour ago, EasterBunny said:

I thought I'd try and build on what @opaopa started, and try and find evidence of xRapid volume.

I thought I'd take a look at a single corridor to see what I can find. We know that there is an xRapid corridor for USD<-->MXN through an FI in the USA(not sure which one) and Cuallix. The payment volume would travel between Bitstamp and Bitso using XRP. I figured out how to connect to Bitso's API and get all XRP:MXN trades since Feb this year. My assumption is that we would see an increase in market orders selling XRP and buying MXN(indicating remittance flow into Mexico). I was able to reduce the dataset, by combining multiple limit orders into one if they had the exact same timestamp(bitso rounds to the nearest second), and direction(buy/sell).The result was ~600k market orders that I could import into excel. I put the volume on a log scale and set a bin width to 4% of the volume. Here are the resulting histograms:

image.thumb.png.6dcbf6c2f8891b5bda52d72aa8d2a07a.png

The next chart is from the same dataset, but base currency changed to MXN.

image.thumb.png.ae7b87e5b7c43681c692728c3c95fd12.png

You can see right away that the most common market orders are at round numbers(1, 10, 50, 100...). Not surprising considering we're human and we like round numbers. Also note that generally there was more volume that went from XRP-->MXN. I'm not exactly sure how to slice the data next, but I think I'll try and look at how these volume evolve over time... Stay tuned for part 2...

Im sorry I am not technical enough to follow that. Would you say there is any significant uptick in volume you think maybe related to xrapid, or not yet?

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@EasterBunny I started looking at the data too and created this plot of all payments from bittrex to bitso since Jan 2018

I have assumed rPVMhWBsfF9iMXYj3aAzJVkPDTFNSyWdKy is the wallet for bittrex and rfEu1Wnr7LxStoFx8DBdzgr8M16FBUbH3K for bitso, but I suspect there are more than one at each end. Any extra wallet addresses would be useful if people know them, particularly, coins.ph for the philippines.

image.thumb.png.21daec6c0fad53584ae1403ae7eba2a4.png

So what happened in July that cut off all traffic? Did they switch to a new wallet?

We should probably combine forces on some of this data mining :)

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4 hours ago, EasterBunny said:

I thought I'd try and build on what @opaopa started, and try and find evidence of xRapid volume.

How nice! I really hoped that someone would do exactly this. I think that the data set you got your hands on is of much better quality than mine and I'm really curious to the results. If you would like to collaborate on this work I would be eager to help. :) I PM my mail address!

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2 hours ago, FelixNYC said:

What some need is an ELI5 TL:DR

Let's suppose XRP are little sweet biscuits and xRapid is moving many of them across US & MX borders: a lot of biscuits are sent to MX while fewer are brought in US

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1 hour ago, Wandering_Dog said:

How will a histogram show xrapid?

It won't by itself. Perhaps I can show how the volume evolves over time. Maybe we see an uptick in volume on Fridays(Payday) since xRapid launched? If I had time I would look at data from Bitstamp and XRPL and see if I can find sets of trade --> payment --> trade between all 3 ledgers all within short time spans. 

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