Play with it to get a more accurate idea of what is capable of https://www.r3x.space
Trading NFTs all day and wanting to have a quick, relevant idea of a collection's state, it's owner base and their sentiment in order to make fast, more accurate decisions.
What it does
Quickly analize speed of buying and selling transactions, determining benchmarks (median time between transactions overall) and compares them to the current time. Filtering out wallets that make multiple buys/sells and only consider new listings (not delistings) so to get a more accurate idea of a collection's trend.
The speed gauge also calculates median speed of buying/listing transactions and minimum prices, while its main niddle indicates the current speed of listings vs buyings (calculated for the last 10 transactions).
FUD / FOMO indicator, based on delisted NFTs and relisted (by the same wallet, so they weren't sold) and the difference in price between original / new listing, thus determining market sentiment on the fly. If people delist only to relist higher/lower, they must be on to something, right? Or not. Timeline considered as well.
The other 2 indicators are histogram visualisations (1 classic histogram, 1 cumulative) of the listings @ various prices - you can select how many listings will be shown and the histogram bin size, thus getting an idea of how many listings there are until a certain price will be achieved.
How I built it
The app is alive and well on a Pythonanywhere server and is built with Python, Dash, Flask. Lots of Python libraries have been used, but most important are Pandas, Numpy and Plotly. Choose the collection to analyse from the list (now this list is updated daily), then downloads (on request) data from the the MagicEden API, using the activities and listings endpoints (currently working on wallet analysis too).
Challenges I ran into
Although functional, there is still a lot to finish and improve. I think I accomplished less than 20% of what I intended. There are a lot of other indicators and fine tuning to these ones I will be adding.
Accomplishments that we're proud of
The idea and essence of the app are something I personally could use as a trader/hodler/flipper. Still a lot of work to do in order to be proud.
What we learned
Time is shorter than expected.
What's next for SPEED-O-METER
Sky is the limit