Q111. Algorand recently turned 3 years old as a blockchain!

One of the main advantages for a user of Algorand is the extremely low fees relative to other blockchains.

• Create a visualization showing the cost of transaction fees per day accumulated since the beginning of January 2022.
• What wallets have conducted the most transactions and spent the most on fees?
• How much have users on Algorand spent on transactions in total? 

Methodology

1. Find the daily total transaction fee and cumulative since 2022.
2. Get the top 10 Algorand’s addresses that have paid highest fee.
3. Calculate the other metrics such as average fee per address, per transaction.

Create a visualization showing the cost of transaction fees per day accumulated since the beginning of January 2022.

What wallets have conducted the most transactions and spent the most on fees?

How much have users on Algorand spent on transactions in total? 

Conclusion

• Algorands has paid a total of 411k ALGO in transaction fees since 2022.
• The daily transaction fees slowly declined from 3000 to 1000 each day, with the high on JAN 7th at around 6k total transaction fee.
• The unique sender has multiple peaks, each of which takes 3-7 days to cover, with the largest peak happening in early January.
• We can imply that, when the price falls, signaling that the market is volatile, the Algorand chain has fewer transactions overall, and the overall transaction costs reduce.
• ZW3I...754 paid the most total transaction fees of 124k ALGO, or 44.6 percent of the top 10 addresses and has the highest transaction count of 124 million transactions.
• JDQ7...621 and EKJQ...RBD have the highest average transaction costs of about 0.25 ALGO per transaction, which is over 250x higher than the other top ten addresses.
• The average transaction fees has been around 0.0014 ALGO, and each address has paid around 0.04

Since 2022, Algorands has the total of 285 million transaction count, 10.3 million unique active addresses, and paid a total of 411k ALGO in transaction fees.

Since 2022, the top ten Algorand's addresses that paid the highest transaction fees are depicted in the graphics.

ZW3I...754 paid the most total transaction fees of 124k ALGO, or 44.6 percent of the top 10 addresses, which is nearly half, and also has the greatest transaction count of 124 million transactions.

In terms of average transaction fees per transaction, JDQ7...621 and EKJQ...RBD both have the highest average transaction fees of roughly 0.25 ALGO per transaction, which is almost 250x more than the other top 10 addresses.

This graph shows the number of unique senders and transactions every day. The unique sender has many peaks, each of which is covered in 3-7 days, with the highest peak occurring in early January, with over 400k unique senders.

In terms of the daily transaction volume, it follows the same trends as the prior study on the daily transaction fee.

The chart displays Algorand’s daily total transaction fees and cumulative since 2022. We can see that the daily transaction fee steadily decreased from 3000 to 1000 a day over time throughout the period, with the peak on JAN 7th at almost 6k total transaction fee.

Since 2022, the average tx fees for each transaction has been roughly 0.0014 ALGO, and each address has paid around 0.04 ALGO, which is relatively cheap.

Since 2022, this graph depicts the relationship between the ALGO price and the daily total transaction fees.

We can see that the price and transaction fees are trending in the same direction.

This study suggests that when the price falls, indicating that the market is volatile, the Algorand chain has fewer transactions in total and the overall transaction fees decreases.