Methodology

To get a table of all wallets whose first transaction was 90 days ago or less, the terra.transactions table was used. This table has a separate column for the transaction initiator, which makes it easy to find all the transactions by users. Then, min(block_timestamp) was used to get the first transaction. In combination with a where that limits the first transaction to the last 90 days, we were able to find all wallets whose first transaction was 90 days ago or less.

Below is a table of wallets whose first transaction was 90 days ago or less, ordered by the number of transactions they have performed since their first.

I did some digging into why the top wallets have so many transactions. The first 5 wallets in the table above seem to be special wallets that only have MsgAggregateExchangeRateVote transactions. This means that these wallets constantly vote for the exchange rate of LUNA and other assets to make sure the exchange rate is correct. This is the reason why these wallets have so many transactions.

Next, we will look at the distribution of the number of transactions to get a better feel of how active these users are. On the x-axis, we find the buckets for the number of transactions. On the y-axis, we find the number of wallets that fall within each bucket.

As we can see, most users have made between 1 and 10 transactions since their first: 260k users. Quite surprisingly, quite a lot of new users have not made any other transaction after their first, about 77k users.