1M New Algorand Wallets In May
New Algorand Wallets
Algorand has been exploding with new wallets in recent times and between the 4th of May to the 10th of May, 2022, there were 1M+ new wallets created. We want to know what these new wallets are up to and what kind of assets they hold.
So we present our first chart below which shows the distribution of ALGOs in the wallets of those newly created between 4th and 10th May 2022. We can see that 99% of addresses own between nothing to 100 ALGOs.
Moving forward, we want to know what kind of assets they're swapping for. In the table below, we have the swap pairs (from_asset/to_asset) that are most popular with the 1M+ newly created wallets by swap count. The top 3 swap pairs are:
- ALGO/USDC
- USDC/ALGO
- ALGO/Yieldly
Last but not least, let us take a look at assets that are held in these new wallets. In the table below we count the number of addresses that hold a specific asset and sorted by the first 50.
About 44,585 of the newly created wallets hold the Xfinite Entertainment Token (XET) which is the native token of the play-to-earn (P2E) Xfinite ecosystem. Other tokens held by most wallets include USDT (9,051), Opulous (7,863) and USDC (7,829).