Try Quests to earn cryptoNew Wallets In May
How many wallets have a balance greater than 1 ALGO? And how many of those wallets sent or received a transaction in May? How many new wallets were created in May? What % of total wallets with more than 1 ALGO is this? Additionally, show the distribution of ALGO holdings for these new wallets. What is the average ALGO holding of these new wallets? What other ASAs do these new wallets from May hold? How many of these wallets have performed a swap?
Introduction and methods
There was a massive amount of new Algorand wallets created during the week between 4th adn 10th of May, just after the announcement of the partnership between Algorand Foundation and FIFA. This event makes Algorand more attractive and popular for not only investors but also for other interested users.
In this dashboard we are gonna try to explore the profile of these new wallets created on May as well as their behavior on Algorand network. The main statistics computed through this analysis are:
- The number of total Algorand wallets that holds more than 1 ALGO and its percentage
- How many of the wallets holding more than 1 ALGO sent or recevied a transaction in May
- The number of new Algorand wallets created in May that holds more than 1 ALGO and its percentage
- The distribution of ALGO holdings for these new wallets
- The average ALGO holding of these new wallets
- What other ASAs do these new wallets from May hold
- The number and percentage of these wallets that have performed a swap
Alomst 1M wallets hold more than 1 ALGO. It seems like the number is bigger but when we compare with the global Algorand ecosystem as in the second chart, we can see how it represents less than 4% of the total Algorand wallets.
From these wallets that hold more than 1 ALGO, less than 19% of them recevied or sent some transaction during May.
In May, a total of 1.66M wallets were created, maybe let by the new FIFA partnership. If we take a look at the percentage of these new wallets created in May that hold more than 1 ALGO, we can see how the number is poorer than the previous one. In this case, 28k from the total 1.66M of the wallets hold more than 1 ALGO, representing less than 2% of them.
In fact, if we take a look at the chart distribution of holdings by each created group, we can see how the major of these new wallets are holding between 0 (not included) and 1 ALGO, even another important part not holds any ALGO.
About the behavior of these new wallets, we can see how around 2.3K of them have performed some swap, representing 0.14% of the total wallets.
Finally, exploring what other things do these transactions on Algorand, we can see how the main actions are: Appliaction calls, asset transfers and payments.
Conclusions and insights
In this dashboard we have explored the profile of the new wallets created on May as well as its behavior on Algorand network. The main insights extracted from the report are that these new wallets are basically a reflection of the hype generated by big events on crypto. The major of these wallets created an account on Algorand to do anything. The major of the wallets only holds between 0 and 1 ALGO, getting us an assumption that they only created the account for the big news of the FIFA announcement.
Furthermore, we havee seen as well how the activity of these wallets have been poor so far. Only 0.14% of them performed some swapand the global average of ALGO holdings is around 100. Finally, taking a look at the other assets holded by these wallets, it seems like a great quantity of them are holding USDT and USDC. Then, it seems as well that the amount of ALGO holded by these wallets could be affected by the market volatility and the current bad crypto news and swapped their ALGO for stablecoins.