Takaways: What are New Ethereum Wallets doing?

Overview

• 3M New wallets joined Ethereum.
• Most new wallets have just held on to their tokens.
• We see a drop in the number of new wallets on December 25th and January 1st. It seems like even people in crypto took the day off.
• The price of ETH has remained mostly flat, so the new holders have not experienced much volatility.
• Some wallets staked their newly obtained ETH. Among the new wallets, the most popular ways to stake ETH are Direct Staking and LIDO liquid staking.

Swap Data

• 3.5% of the new wallets have swapped assets.
• New wallets make up to 30% of the swaps, and also a significant fraction of the volume.
• The most popular pairs and pools involve wETH and stablecoins.

NFT Data

• Among the new wallets, 1.3% have purchased an NFT.

• The most popular collections among new wallets are the general popular collections in the NFT market.

• New wallets make around 10% of the NFT sales and volume.

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Objectives and Methodology

• The purpose of this dashboard is to show the activity of the 3M new users to the Ethereum blockchain during the holidays. The new users have been defined as those that received their first ETH after December 1st, 2022, without any prior transactions.

• We show data for these wallets and compare it to the activity of older wallets (i.e., those that are not new). The data we show has been divided into three sections:

  1. Overview: a set of metrics that have information both on the Ethereum blockchain and on the general activity of these new wallets.
  2. Swap Data: deep-dive into the data of these new wallets related to token swaps.
  3. NFT Data: NFT purchasing activity of these new wallets

Thanks for reading!

Author: CarlOwOs

Twitter: @CarlOwOs1

Discord: CarlOwOs#4288

Overview

Swap Data

NFT Data

Chart details

• Swap Pairs refer to the token pairs involved in a swap, so that the LEFT token is swaped for the RIGHT token.
• Swap Pools refer to the aggregate swaps in both directions.

Insight

• 3.5% of the new wallets have swapped assets.
• New wallets make up to 30% of the swaps, and also a significant fraction of the volume.
• The most popular pairs and pools involve wETH and stablecoins.

Chart details

• We show the price for the 10 most purchsed collections by the new users.
• The price of the collections is calculated as the daily median NFT sale amount.

Insight

• Among the new wallets, 1.3% have purchased an NFT.
• The most popular collections among new wallets are the general popular collections in the NFT market.
• New wallets make around 10% of the NFT sales and volume.

Insight

• We see a drop in the number of new wallets on December 25th and January 1st. It seems like even people in crypto took the day off.

• The price of ETH has remained mostly flat, so the new holders have not experienced much volatility.

• Some wallets staked their newly obtained ETH. Among the new wallets, the most popular ways to stake ETH are Direct Staking and LIDO liquid staking.

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