Interchain Token Transaction Volume Z-Score Per Chain

Overview

This indicator monitors and evaluates the activity level and security posture of tokens facilitated by the Axelar network. This indicator specifically measures the volume of these cross-chain transactions, using the Z-score to flag any unusual activity. Furthermore, it looks into the statistical measure that identifies how many standard deviations an observed value is from the mean. Transaction volumes with a Z-score significantly higher than 2 or lower than -2 are considered to exhibit unusual activity, signaling potential anomalies or concerns.

How can I use it?

This indicator provides insights into the overall health and activity level of the Axelar network by tracking how much and how often interchain tokens are being used. Significant increases or decreases in transaction volumes can signal changing market trends, such as increased adoption of certain tokens or shifts in user behavior across blockchain ecosystems.

A Z-score outside the typical range might indicate not just market trends but also potential security threats, such as exploitation attempts, vulnerabilities in the minting or redeeming processes, or manipulative activities targeting specific tokens.