 | Hi all, in today's analysis we're going to be going over Moon Price and Volume, as well as CC engagement before and after the API changes that were recently implemented. The Comment Count was taken from the Daily Thread, and the Moon information was taken from CoinGecko. Before we begin I'd like to emphasize that this data was collected with the before and after date in mind (July 1, 2023) and NOT when the announcement was made about the API changes. I collected a week's worth of data from each time point (baseline, Before API changes, and After API changes), so each mean/average you see will be using 7 data points of data for each day of the week. I also collected data from a year ago to act as a baseline. The Moon price analysis is going to be using the same and is done for consistency sake. You will notice that the volume data for Moons is essentially non-existent prior to the move to Mainnet (August 2022). Please bear that in mind as we move forward. Also, I'll be using standard errors as opposed to standard deviations. Alright let's get on with the show! A 1-way analysis of variance (ANOVA) was conducted to analyze Moon volume across time (baseline, before API change, and after API change). A statistically significant difference was found (F[2, 18] = 19.48, p < .001) indicating that Moon Volume did change over time. To further analyze this, post-hoc tests using the Bonferroni correction were used. Baseline Moon Volume was found to be significantly different from both Before and After the API change implementations (p's < .001). No other differences were found. To further analyze the relationship between Before and After API changes, an independent samples t-test was conducted. No difference in Moon Volume between these 2 time frames were found. These results demonstrate that the move to mainnet has had a significant effect on Moon Volume, and while Moon Volume does increase After API change, it is not a statistically significant change. Next, a 1-way ANOVA was conducted to analyze Moon Price across time (baseline, before API change, and After API change). A statistically significant difference was found (F[2, 18] = 44.85, p < .001). To further analyze this, post-hoc tests using the Bonferroni correction were used. Baseline Moon Price was found to be significantly different from both Before and After API changes (p's < .001). No other differences were found. To further understand the relationship between Before and After API changes, an independent samples t-test was conducted. No difference in Moon Price between these 2 time frames were found. These results demonstrate that Moon Price has significantly increased since the move to Mainnet, and while Moon Price does dip post-API change, the difference is not statistically significant. Finally, a 1-way ANOVA was conducted to analyze Comment Count across time (baseline, Before API change, and After API Change). A statistically significant difference was found (F[2, 18] = 19.48, p < .001). To further analyze this, post-hoc tests using the Bonferroni correction were used. The Baseline comment count was found to be statistically different from both time frames such that Baseline comment count was significantly higher relative to both Before and After API changes (p's .04 and< .001). Additionally, a difference trending towards significance was found such that comments Before API changes were higher than After API changes (p = .092). These results demonstrate that engagement on this community has waned over time, and that the API changes *may have* had a direct impact on engagement as well. Using the before and after comment count we can then estimate how many accounts here in CC used 3rd party apps to engage with this community. 100 - (Average comment count After API Changes) / (Average comment count Before API changes) * 100 so: 100 - (1627 / 2002) * 100 = 18.71% So this data demonstrates an estimate, and that at least 18.73% of Reddit's traffic/engagement on CC came from 3rd party apps. Others may have migrated to the official Reddit app. Please note that the data also demonstrates a waning interest in CryptoCurrency over time so there may be other contributing factors that I have not included here leading to the posted results (e.g. bear market blues). This data also does not account for how many users were online as that data can only be collected in real time (as far as I know) and would offer a different perspective on the matter. Final thoughts: The data shows that both Moon Volume and Price remains unchanged from a statistically significant perspective Before and After API changes, but that CC engagement was affected and declined as a result. [link] [comments] |
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