Introduction

Since the beginning of 2022, the Algorand (ALGO) blockchain has gained almost 6 million new accounts to its network. According to AlgoExplorer statistics, the total number of Algorand accounts was 17,373,299 at the start of the year, and it was 23,548,065 by press time (on March 10, 2022).

Methodology

This has different answers where the questions like , wallets have a balance greater than 1 ALGO and then it looks deeply into those wallets sent or received a transaction in May and even the new wallets were created in May.Also, The percentage of total wallets with more than 1 ALGO and then the total ALGO holdings and the average ALGO holdings, and then the swappers among them are analyzed.

The total wallets that hold more than 1 ALGO as balance over the whole period is displayed here.

Among the total users, the ones who have participated in some transactions in the whole of May are shown here.Now comes the new users in May

The new wallet creators are displayed here that *816809 users have made their first transaction in May.

This gives the percentage of ALGO holders with more than 1 ALGO among the total users with more than 1 ALGO in their wallets.

The table here displays the data for the volume of the ALGO tokens that are held by each new wallet .

The distribution of the total ALGO tokens that are held by new wallets is created here.It insights that the highest amount of ALGO that is held by a new single wallet is 34k.

The table here then displays the other assets that are held by the same new wallets created in MAY.

The distribution of the other assets that are held by the new wallets that are created in May is shown here and it displays that the Tinyman is the highest held asset than ALGO by the wallets.

Other than this the wallets that have performed a swap in the algorand ecosystem is shown here.

This hike in the creation of the new wallet may be attributed to the participation reward are replaced by the governance reward which can attract more users into the ecosystem