Most Popular ASA To Swap From ALGOs

    Analyzing Algorand Standard Assets (ASAs)

    Introduction

    Algorand Standard Assets (ASA) are assets represented on the Algorand blockchain that follow a certain standard. ASAs can either be fungible, non-fungible, restricted fungible or restricted non-fungible assets. This means that ASAs can represent stablecoins, loyalty points, system credits, yield-bearing tokens, and game points.

    In this publication, the objective is to assess the popularity of ASAs since inception. And to find the ones that are popular, we will look for the ones that are in demand. Demand here implies ASAs that are mostly swapped to, from ALGOs in terms of volume.

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    ASA Popularity

    As mentioned earlier, popularity in this context is defined by swap volume in ALGOs, and the chart below is a representation of the top 10 ASAs with the most swap volume. $USDC and $Yieldly are the most popular ASAs with 79.9M ALGOs and 62.3M ALGOs in swap volume from ALGO respectively. The $Defly token occupies the 3rd position with 14.1M ALGOs in swap volume.

    Next, let us dig deeper into the figures as we try to make sense of everything. In the table below, we have added the average amount of ALGO that is involved in the computation for popularity. You can see that the average amounts tell a different story regardless of the rank.

    Last but not least, we go back in time to chart the daily volume of the top 10 ASAs since the beginning of 2022.

    Here are the few points we noticed from the time series above:

    • Yieldly has been the most fluctuating asset over the period under investigation.
    • USDC is either in the first place or second place, or third place.
    • The asset in third place has been varying from time to time.
    • Defly and Headline have seen a reduction in their daily swap volume since the beginning of 2022.