Questions

One of the main advantages for a user of Algorand is the extremely low fees relative to other blockchains. Create a visualization showing the cost of transaction fees per day accumulated since the beginning of January 2022. What wallets have conducted the most transactions and spent the most on fees? How much have users on Algorand spent on transactions in total? 

Introduction

Algorand blockchain has entered its 4th year, and this blockchain has been continuously improving. It can be said that one of the goals of creating blockchains is to use cryptocurrencies to transfer assets and make transactions at a low cost(fee) and sound safe. These goals have been implemented to an excellent extent in Algorand Blockchain. The transaction cost in Algorand is 0.001 ALGO, which is much lower than the transaction cost in Ethereum and Bitcoin blockchains. Also, Algorand's entry into new platforms and expansion has made it widely used.

In this analysis, we will discuss the transaction cost in the Algorand blockchain using on-chain data.

Analysis

Charts and data are collected for the period from January 2022 until now.

First, you can see the graph of the daily volume of the transaction fee (red line and gray bar).

As it is clear from the chart above, the highest transaction cost is 5961 ALGO on January 7. The blue line shows the average daily price of ALGO. It seems that the volume of daily volume of transaction fee has a direct relationship with the price of ALGO and in general it can be said that their correlation is positive.

The above chart shows the 10 wallets that made the most transactions in 2022. The highest number of transactions is related to

• WalletZW3ISEHZUHPO7OZGMKLKIIMKVICOUDRCERI454I3DB2BH52HGLSO67W754, which is related to the PLANET project.
• Wallet C7RYOGEWDT7HZM3HKPSMU7QGWTRWR3EPOQTJ2OHXGYLARD3X62DNWELS34 is related to LC Rapid Ranking
• Wallet AACCDJTFPQR5UQJZ337NFR56CC44T776EWBGVJG5NY2QFTQWBWTALTEN4A is related to Yieldly.

The chart above is also the top 10 wallets in terms of the volume of payment transaction fees, the only difference from the previous chart is that wallet ‌JDQ7EW3VY2ZHK4DKUHMNP35XLFPRJBND6M7SZ7W5RCFDNYAA47OC5IS62I is in second place, which is the address of the Bitfinex project.

And finally, the total transaction fees that users have paid since the beginning of 2022 is 412K ALGO$.