ETH: Share of NFT Volume Flagged as Wash Trades
Included with Plus.
The share of each day's NFT volume in ether that the filter flags as suspected wash trading.
Why use it. A quick read on how trustworthy the day's headline number is. How to read it. Higher means more of the volume looks artificial. Reward programmes tend to push it up.
Calculation. Filter, per token: sales where buyer and seller are the same address, sales between the same two addresses in both directions within seven days, and any token sold three or more times within a day are all flagged. It misses wash trades run through several addresses and can flag genuine quick flips, so treat it as an estimate. Covers sales settled on Seaport (the contract OpenSea and several other marketplaces run on), Blur's exchanges, LooksRare and the CryptoPunks contract, read from their own events on CryptoKeyhole's Ethereum archive node. Sales routed through aggregators settle on these contracts and count once. Sales paid in anything other than ETH, WETH, Blur's pool, USDC, USDT or DAI are left out, and so are CryptoPunks bids accepted, whose event logs no price. History is read newest first and reaches back to January 2022 at the earliest: before that most sales ran through a contract whose events do not say what was sold. Prices in dollars convert to ether at the day's close of CryptoKeyhole's ETH/USD index, and the other way round. The open day is a labelled partial.