Active Daily Wallets
This dashboard investigates the daily number of active wallets on the Algorand blockchain.
Introduction
Algorand is one of the current fast-growing blockchain projects. One of the metrics that indicates the popularity and healthiness of projects is the daily active wallets.
In this dashboard, we investigate the daily number of active wallets on the Algorand blockchain.
Active wallet, here, is defined as any wallet that is involved in transactions, whether as a sender, receiver, or signer of any Algorand assets or contracts.
Daily active user is measured by the number of unique wallets per day.
We first look at daily active addresses on Algorand and Compare the number of active daily wallets for the month of January 2022 to December 2021 and January 2021.
Then we zoom in on days that had the most active number of wallets in January 2022 and try to explain what the causes of that spike is.
Results
Monthly active users
First, we begin with the monthly comparison. The bar chart below shows how the monthly active wallet has changed over time.
As can be seen from the graph, December 2021, has by far the highest number of active wallets. The second most active month is January 2022.
Comparing January 2022 with January 2021, we can see the number of active users has become four times higher in one year.
Daily active user
The graph below shows how the daily number of active users has been changed since January 2021.
The colours represent the periods. As can be seen there is a week in December 2021 that the number of active wallets spikes. On January 11th and 12th also there is a spike in January 2022.
The table below compares the the three time periods with together and with other other months.
As can be seen January 2021 experienced the most stable month in terms of the difference between minimum and maximum. However, the same month has a lowest average. The highest average belongs to December 2021.
Summary of findings
The data shows that:
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December 2021 is the most highly active month on Algorand blockchain in terms of number of unique wallets since January 2021.
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The number of active users in January 2022 is almost four times higher than January 2021.
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There are some days that are different than the others in terms of number of active wallets. In December, on 24th the second period of governance commitment started. The peak around the third week of December is resulted from the activities around the governance period.
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In the first week of January 2022, the first governance payout period (Jan 1st, 2022- Jan 5th, 2022)took place that causes high involvements of wallets in the network.
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The highest volume of unique active wallet in January 2022 is on January 11th and 12th.
Discussion
To understand the causes of the later point further investigation is needed.
The graph below shows the proportion of application_id used on January 11 and 12.
As can be see the majority of transactions has transacted with Vitalpass created application.
The graph below examines whether this dominance is usual or it is limited to these specific days.
The graph shows that the use of this application is seasonal. This application is associated with the project of the Colombian vaccine pass. As can be seen, the use of application has increased since January 1st and reached to the highest point on January 17th.
This can explain the higher level of active user from January 1st to January 18th. However, I could not find any reason of minor spike on January 11th from the data.