Introduction

The transaction fee is an important factor influencing the decision of users to adopt a blockchain. The transaction fee depends on several factors the most important which is the amount of the transaction. However, some blockchains offer low and constant fees for transactions. Among those chains Algorand is well-known.

This dashboard focusing on Algorand transactions provides an overview of transaction fees in 2022. Specifically, the dashboard keeps track of transaction fees accumulated on Algorand, the average fee per transaction, and top accounts who have paid for transaction fees.

Algorand guarantees constant 0,001 ALGO fee for transactions. However, the data shows that there is a variation in transaction fees.

The graph next to this box shows how the daily fee correlates with daily number of transactions.

Insights

• Daily transaction fees (in ALGO) generated on Algorand is decreasing in 2022. The downward trend is mainly due to the decline of daily transaction volume.

• The actual average transaction fee per transaction is slightly higher than 0,001 what Algorand promised.

• The transaction fee in USD has been declined sharply since the beginning of 2022 as a result of the ALGO price drop.

• Among the top 100 accounts who paid most for transaction fee in 2022 liquidity pools (e.g.Tinyman pools) and CEXes (eg. Coinbase, Binanace and Huobi) can be seen.

• There is no significant relationship between daily average transaction fee and the daily number of transactions.

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Notes

Data: Flipside’ Algorand tables

Author:

• SocioCrypto#1741
• SocioCrypto

Created on: 2022-7-5 Updated: Daily