On-chain Analysis Alpha Finance Lab (ALPHA)

On-chain Analysis Alpha Finance Lab (ALPHA)


2021-04-02 03:45:17

“TA – What you see

FA – What you think

On-chain metrics – What people do “

What you see may be similar to what a lot of people see, but what a lot of people see is what the game builders wanted everyone to see.

So is there any events going on with the coin that you are holding, what are the “big boys” doing?

Coin98’s on-chain analysis series will provide you with more comprehensive perspectives to answer the above questions and in this article we will go into the analysis of hot goods – ALPHA.

What is Alpha Finance Lab?

Alpha Finance Lab (ALPHA) focuses on building an ecosystem of financial products and services serving users on different blockchains.

Currently, the project has Alpha Homora, a product that allows users to farm yield using leverage, Alpha Homora has been present on both Ethereum and Binance Smart Chain.

In addition, the project will have other products in the future such as Alpha X – a product that enhances the perpetual contract (perpetual contract) and Alpha Asgardian – an option trading product.

Before going into the analysis of the project’s On-chain data, I advise you to learn carefully about this project first, because the data is no matter how good, but if it’s not a good project, then all numbers are meaningless.

You can learn about Alpha here.

On-chain data on products of Alpha Finance

Currently, Alpha still has only one main product, Alpha Homora (including version v1 and v2). In the following section, I will analyze the on-chain data of the product.

Currently the total TVL on 3 platforms: Alpha Homora (Ethereum), Alpha Homora (BSC) and Alpha Homora V2 is $ 969.3 million.

On the Ethereum network alone, the figure is $ 729.5 million.

From the chart you can see that Alpha Homora had a very strong growth period, but since the attack on Alpha and it caused its partner – Cream to suffer heavy losses. Alpha Homora made a pretty deep adjustment.

However, basically, Alpha Homora is a breakthrough product and currently almost exclusively in yield farming using this leverage. Therefore, we can fully expect this number to grow again in the near future.

On-chain data about the $ ALPHA token

Token distribution ALPHA

At the time of writing about 25% of the total supply is in circulation, of which 6.5% of the total token supply (more than 65 million tokens) are on exchanges, the rest are in personal wallets.

This is a rather strange point because the characteristics of DeFi tokens can be used in the product to create a good yield source for the user. Instead of trading and trading token holders can be used to administer, farm, loan, as collateral in other platforms, …

In particular, Alpha announced a new tokenomics with ALPHA token as the focus, according to which the more users holding the ALPHA, the more benefits will be shared from the products in the ecosystem. You can read details about this new tokenomics here.

In that sense, having a large proportion of tokens on exchanges is not so reasonable, especially for projects like Alpha Finance.

Following the transaction history of the project, we see something quite unusual, that the Alpha Finance contract has sent a token amount of up to 50 million ALPHA to Binance.

Source: Etherscan

And in the process of finding out the cause, I saw an announcement from Alpha about this problem.

Accordingly, the project announced that to meet the increasing demand of ALPHA (ERC20), ALPHA side will deposit 100 million ALPHA tokens (ERC20) and withdraw 100 million (BEP20) through Binance. Note that it is possible to split into multiple installments, not at the same time.

Balance fluctuations between exchanges

In addition to the special case of Binance, in general, the number of Alpha tokens last week did not change much. The number of tokens on exchanges is not the same.

Balance fluctuations of the TOP ALPHA Holder

Here I give the data of TOP 10 wallet hold ALPHA, of course I have spent the floor wallets, the wallet members in the project.

Besides looking at the comparison table, we can see that the ALPHA holder is quite large, the wallet addresses hold a large amount of tokens.


To summarize, after analyzing the On-chain data of Alpha Finance Labs, we can draw a few ideas as follows:

  • Alpha’s product is recovering from the last problem and starting to develop.
  • Not too much change in position of ALPHA Holder, most of ALPHA holders are diamond hand.

In addition, what more Insights can you draw from the above figures, please comment in the comments section so we can exchange and discuss.

#Onchain #ALPHA


#Onchain #Analysis #Alpha #Finance #Lab #ALPHA

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