#18. Polygon Active Addresses

Q4. How many addresses on the MATIC network are active? What’s the daily evolution of active addresses? Is the activeness related some how to the price? Hint: Active address is an address that has done at least one transaction or has received at least once a token in the past 3 months.

Analysis Methodology

In this analysis, we use the flipside_prod_db.polygon.transactions table of Polygon database, and follow the two approaches below to find the active wallets:

First, based on the unique wallets in the to_address column, we find the transaction statistics.
Then We repeat the same procedure with the addresses in the from_address field.*
In the last step, we combine the results using union keyword.

First of all, let's look at the most active addresses in the last three months in the Polygon blockchain.

The following chart shows the ten most traded addresses:

Key Findings

The addresses that have had the most transactions in the last three months have averaged about five million transactions, and they are definitely either bots or addresses corresponding to smart contracts that have many users.

Now let's take a look at the overall statistics of Polygon's active wallets over the past three months:

The number of 5.7 million active users in the last three months in the polygon blockchain shows the popularity of this blockchain.
The average of 95 transactions per wallet is a relatively high number. However, we have to deduct the wallets corresponding to the bots and smart contracts from the above statistics to have a better view than ordinary Polygon users.

Active Wallet Daily Evolution

The number of daily active users in the Polygon money network can also be a good measure of the growth or decline of the popularity of this blockchain.

The following diagram shows this: ‌

Despite the decline of the cryptocurrency market in the last 3 months, the number of daily active users of the polygon network has remained almost constant.
From the second to the fourth of June, we are witnessing a very sharp decrease in the number of users, which seems to be a problem arising from the data collected, which should be further investigated.

Let's also look at the Monthly MATIC price chart and see if our conclusion is independent of the MATIC price or not:

Regardless of the price of MATIC, the number of daily users of the polygon network has remained constant, and it seems that its user community has not paid much attention to price changes.