Interchain Token Transaction Frequency Z-Score

Overview

This metric calculates the average time elapsed between consecutive transactions performed by addresses engaged in minting (creating) or redeeming (converting back) interchain tokens across different blockchain networks. A Z-score significantly higher than 2 or lower than -2 indicates an unusual gap between transactions, pointing to potential anomalies in activity patterns. A statistical method is used to measure the deviation of individual transaction times from the average, with scores beyond ±2 signaling notable deviations from normal activity patterns.

How can I use it?

Normal transaction timings may indicate stable market conditions and regular user engagement with the bridge. In contrast, significant deviations can suggest changes in user behavior, possibly driven by market news, shifts in sentiment, or emerging opportunities.

An unusual increase in transaction frequency (low Z-scores) might hint at manipulative practices, such as wash trading or attempts to exploit the token minting/redeeming mechanisms. Conversely, unusually long gaps (high Z-scores) could signal reduced user activity or loss in confidence in the token or in operational issues with the bridge.