When Blockchain Meets Crawlers: Real-time Market Analytics in Solana NFT Markets

TL;DR

This paper presents a system that uses web crawling and data analysis techniques to monitor and analyze the Solana NFT market in real-time, offering insights and investment strategies.

Contribution

It introduces a novel integration of blockchain data collection with financial analytics for NFT market analysis on Solana.

Findings

Crawler system effectively collects NFT data

Time series analysis reveals market trends

Portfolio optimization suggests investment strategies

Abstract

In this paper, we design and implement a web crawler system based on the Solana blockchain for the automated collection and analysis of market data for popular non-fungible tokens (NFTs) on the chain. Firstly, the basic information and transaction data of popular NFTs on the Solana chain are collected using the Selenium tool. Secondly, the transaction records of the Magic Eden trading market are thoroughly analyzed by combining them with the Scrapy framework to examine the price fluctuations and market trends of NFTs. In terms of data analysis, this paper employs time series analysis to examine the dynamics of the NFT market and seeks to identify potential price patterns. In addition, the risk and return of different NFTs are evaluated using the mean-variance optimization model, taking into account their characteristics, such as illiquidity and market volatility, to provide investors with data-driven portfolio recommendations. The experimental results show that the combination of crawler technology and financial analytics can effectively analyze NFT data on the Solana blockchain and provide timely market insights and investment strategies. This study provides a reference for further exploration in the field of digital currencies.