Authors
Aryan Soltani Mohammadi, Moein Karami, Amir Pasha Motamed, Behnam Bahrak
Publication date
2023/9/5
Journal
arXiv preprint arXiv:2309.02579
Description
The properties of tokens within the Ethereum blockchain, such as their current prices, trade volumes, and potential future values, have been subjects of numerous studies. The complex interaction of the variables related to tokens makes analyzing them challenging. Employing social networks, a powerful tool for modeling connections within groups or communities, can provide valuable guidance. This study mainly focuses on creating and examining networks related to two major decentralized exchanges: Uniswap Version 2 and SushiSwap. We discovered that the distribution of links to nodes follow a power law making them scale-free networks. Additionally, during our analysis, we made an intresting discovery: the centrality of tokens in exchange graphs provide valuable insights into their value and significance in the world of cryptocurrencies. By observing changes in centrality over time, we uncovered noteworthy events in the cryptocurrency domain, that shows the potential of this networks for extracting information about the exchanges.
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