Today we’re looking into the most popular swaps on Pangolin. The top 5 swap pairs (by overall count) all include Wrapped AVAX (WAVAX), which is the ERC-20 compatible version of Avalanche’s native token AVAX.

The large majority of swaps on Pangolin have occurred between WAVAX and PNG (Pangolin). This list does not line up with the top 5 swapped by value. That means there are a large number of low-value PNG/WAVAX swaps. Are you surprised by this roster?

This visual was made by Covalent OG Alchemist @laniledingham - the first of many!

Alpha Alarm is transforming into a community effort. DM if you have any analysis you want done, or if you want to join in on the action.