At the beginning of May Algorand announced a partnership with the International Football Federation Association (FIFA), which caused a pump in ALGO's price and network usage (as detailed on this previous dashboard), as well as an increase in the number of new wallets being created in the Algorand network. On this dashboard, we seek to find out what these new wallets have been doing up until now.

Methods

In order to answer the questions presented above, we show the following data:

• New wallets were created in May, as well as the number among these that hold at least 1 ALGO token. We get the wallet creation block and ALGO balance from the flipside_prod_db.algorand.account table. We then join with the block table to extract the date. We define the wallets holding at least 1 ALGO as active wallets.

• Average ALGO balance

• ALGO holding distribution for the wallets above.

• The Top 10 ASAs (representation of other assets in the Algorand Network) being held by the active wallets. This data can be found in the flipside_prod_db.algorand.account_asset table selecting for the wallets mentioned and grouping by asset.

• From these same holders, we also show how many of them have swapped assets, which are the assets most swapped by these wallets using ALGO (ALGO-ASSET pairs), and the daily number of swaps performed by these wallets.

Analysis

Of the wallets created in May, only 1.76% currently hold 1 or more ALGO tokens. We now show the average ALGO balance for all the wallets created in May and for only those with 1 or more ALGO:

The overall average is 100 ALGO or around 30$ at the current price. Among the ALGO holders, the average is 5,690 ALGO or 1707$. These values are considerably high, which is likely due to there being some ALGO whales among the newly created wallets.

Indeed, 534 accounts hold between 10,000 and 100,000 ALGO, and 51 hold more than 100,000 ALGO.

In order to assess the behavior of the active wallets, we take a look at the ASAs held by the most wallets:

While most of the assets are stablecoins and assets from Algorand defi/nft/games, the second most held ASA is PLANET. This token is related to the Environmental Blockchain company PlanetWatch. The company attempts to gamify air quality monitoring by rewarding users with air quality sensors with their token.

We now take a look at the swapping behavior of these wallets:

Among the active wallets, 6% have swapped assets on Algorand.

The assets they swap the most they've traded the most amount of ALGO for are USDC and STBL. Compared to USDC the rest of ASAs have little to no swap volume.

The daily number of swaps performed by the wallets created in May having at least 1 ALGO has not dropped. Instead, it has increased over time.

Conclusion

• 1.7M new users were onboarded into Algorand in May.

• 1.76% currently hold at least 1 ALGO token.

• There are ALGO whales among these users.

• Among the users with more than 1 ALGO, the assets held by the most wallets are USDC, PLANET, and USDT.

• The asset most swapped in exchange for ALGO is USDC.

• Swap activity of these wallets has increased over time.

Contact data

Thank you for reading!

For any questions or feedback feel free to contact me on Discord at CarlOwOs#4288 or Twitter at @CarlOwOs1