Who's Got The Flow?
Who is holding the most FLOW? Build a list of rankings to help us find the address with the most FLOW tokens. Identify any trends or outliers you see in this collection of whales. Bonus points if you can identify the wallet holders.
What is FLOW?
Flow is a decentralized and developer-friendly blockchain. Flow is designed as a foundation for the new generation of games, applications, and digital assets. The Flow project claims to be based on an architecture that attains the required performance for mainstream applications.
$FLOW is the currency required for the network and all the applications on top of it to function. FLOW is designed as a payment method as well as a long-term reserve asset for the entire Flow economy. The token is used by validators, developers, and users to participate in the FLOW network and earn rewards.
![db_img](https://uploads.flipsidecrypto.com/product/images/TMcAgNbKkOIk.jpeg)
According to the left data, there are total 5.59M unique Flow wallets who are currently holding $FLOW token.
in addition, the average $FLOW balance of these holders is 45.3 $FLOW.
An on the left chart, we can see increasing share of users who are holding less than 10 $FLOW in their wallet as time goes on since start of the year 2022.
On the other side, the share of high-worthy users who are holding higher amount of $FLOW is decreasing as time goes on.
(the chart is logarithmic so the difference between groups is more than what it seems).
Based on the above charts, the majority of $FLOW users (more than 99% of them) are currently holding less than $10 FLOW in their wallet.
Top Holders
As mentioned above, I have defined top 20 users who are currently holding the most amount of $FLOW as “Whales”.
According to the above charts, the wallet address 0x8624b52f9ddcd04a which is the $FLOW staking contract is by far the top $FLOW holder with currently holding more than 627M $FLOW! This wallet was also the top $FLOW holder at the start of the year 2022 but its balance at 1 January (674M $FLOW) was more than now.
As mentioned in the methodology section, I have tried to identify some of these holders with using dim_labels tables in both FLOW and Cross-chain and also searching them manually on web. But, the most of them are unknown and there are some known wallet addresses such as Coinlist, Kraken and OKX exchanges among these top holders.
Also, we can see the wallet address 0x8f77d48caf93fd93 is and was the second $FLOW holder which its balance has increased significantly (almost 2x) compared to its balance at the start of the year 2022.
On the left chart, we can see 9 of the 20 top $FLOW holders at the start of the year are still among the top 20 $FLOW holders currently and 9 of them are no longer among the top 20 holders.
Similar to the regular $FLOW holders, the average $FLOW balance of whales has also decreased over time but its decline rate is less than regular users’ decline rate.
And on the left chart, you can see the monthly change of $FLOW balance of whales since the start of the year 2022.
As we see, there are some whales that had not even 1 $FLOW in their wallet during the past month and their evolution is amazing !
Also, we can see the $FLOW balance of most of these whales has decreased over time.
Summary and Conclusion
- There are currently 5.59M unique FLOW holders with an average balance of 45.3 $FLOW in their wallet.
- The number of $FLOW holders has increased over time, especially since July 2022, but as time goes on, the number of high worthy holders (“Whales”) is decreasing and on the other hand the number of “Shrimps” is increasing.
- From the top 20 $FLOW holders at the start of the year 2022, 9 of them are still among the top 20 $FLOW holder.
- The wallet address 0x8624b52f9ddcd04a which is the $FLOW staking contract is by far the top $FLOW holder with currently holding more than 627M $FLOW!
- The majority of top holders are unknown and not labeled but there are some labeled addresses such as Coinlist, Kraken and OKX centralized exchanges wallets among these top $FLOW holders.
- The $FLOW balance of top 20 whales has decreased slightly over time since the start of the year 2022. Also, among these whales, some of them (8) had not even 1 $FLOW in their wallet so their evolution is incredible!
- Uniswap pool has by far the most Wrapped $FLOW balance among the Ethereum users.
- Despite the Flow blockchain, There was an increasing balance of Wrapped $FLOW holders on the Ethereum chain over time.
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Methodology
In this dashboard, I am going to perform some analysis of distribution of $FLOW among holders and see which wallets are holding the most $FLOW and how it has changed over time.
For this, I have mainly used flow.core.fact_events table with filtering the event_contract column to $FLOW token contract (A.1654653399040a61.FlowToken). When $FLOW is deposited into a wallet, 'TokensDeposited' event is emitted and when $FLOW is withdrawn, ‘TokensWithdrawn' event is emitted. So, We have to join the deposit & withdraw table together to calculate the total deposited $FLOW into a wallet minus the withdrawn $FLOW from the wallet and reach the actual net $FLOW balance of the wallet. (with only considering successful transactions | tx_succeeded = 'TRUE').
So, in this submission, Firstly I am going to calculate total number of $FLOW holders and also their average $FLOW balance.
Then, I am going to analyze the distribution of $FLOW holders by their holding amount.
Then, I am going to analyze how the average $FLOW balance of wallets has changed over time (since start of the year 2022)
Then, I am going to extract top $FLOW holders, today and on start of the year 2022 and compare them to each other and also see how their $FLOW balance has changed over time. Also, I have tried to identify the holders by using flow.core.dim_contract_labels and also crosschain.core.address_labels tables and I was successful to identify some of them but not all.
==In this dashboard, I have defined top 20 $FLOW holders as “Whales”.==
Based on the above charts, the total number of $FLOW holders is increasining signifincatly over time especially after July 2022 but as time goes on, the average $FLOW balance of holders is decreasing dramatically.
So, it shows that the majority of new $FLOW holders are some “Shrimps” who are holding low balance of $FLOW in their wallet.
On the left chart, I have exluded the wallet addresses that have less than 10 $FLOW in their wallet for a more realistic analysis of true $FLOW holders.
So, In this terms, we can see more than 4480 users are holding 10 - 100 $FLOW in their wallet and the next rank belong to the users who are holding 100 - 100 $FLOW.
There are total 382 users who are holding more than 10000 $FLOW in their wallet which is quite low amount compared to the total 5.59M unique holders.
On the above left chart, we can see the number of users who are holding at least 10 $FLOW in their wallet has also increased over time but with a slighter growth rate of total number of holders.
Also, on the right chart, we can see there is almost equal share of different type of users (based on their $FLOW holding) over time with lightly decreasing share of users with 100 - 1000 $FLOW holdings.
Top Wrapped $FLOW Holders in Ethereum Chain
In this part, I have used ethereum.core.ez_current_balances and ethereum.core.ez_balance_deltas tables to extract the top holders of wrapped FLOW on Ethereum blockchain considering that WFLOW contract address is 0x5c147e74D63B1D31AA3Fd78Eb229B65161983B2b.
In the Ethereum chain, we can see the uniswap pool has the highest $WFLOW balance among other Ethereum users and there are some wallets such as Sushiswap WFLOW pool also on the next ranks.
On the above charts, despite Flow blockchain, we can see increasing balance of Wrapped $FLOW holders on Ethereum over time.
Also on the right chart, we can see the evolution of top holders over time since the start of the year 2022 and we can see the balance of majority of them especially Uniswap pool has increased over time.