Algorand Chain

Algorand is a pure proof of stake blockchain cryptocurrency protocol with a consensus mechanism chosen for scalability, intending to solve the blockchain trilemma. The Algorand platform supports smart contracts, and its consensus algorithm is based on proof of stake and a Byzantine agreement protocol.

Method

First, let's identify whales in the Algorand network. Who are Whales in my definition?

Whales definition: Top 1000 wallets with at least 100K Algo in their wallets are Algorand Whales.

We have three types of wallets in the Algorand network.

• msig: multi-signature

• lsig: programmatic-signature

• sig: single signature

I only picked up sig accounts, and all analyzed from this article are based on sig accounts with at least 100K Algo and are in the top 1000 wallets.

After finding the whale's wallet, I went through their swaps and found out which assets were more popular.

My analysis is based on two parameters.

• First: Based on total swaps number by whales

• second: Based on total swaps volume

By swaps volume, I mean total volume from that asset not in USD.

I investigated popular assets swapping from and into.

Assets data are from the beginning of the year 2022.

Whales On Algorand

In the below query, I listed the top 1000 wallets in Algorand based on the total Algo in their balance. These whales are sig account types and have at least 100K Algo. The first account has about 233M Algo. The second whale has more than 130M, and the third one has about 97M. The last whale from my result has only 134K Algo.

What percent of whales participate in swaps?

I found only 26 wallets that participated in swaps. It means only 2.6% of 1000 whales have swapped We can call them HODLER!

The distribution of the number of swaps per whale in 2022.

According to the bar chart below, We can see the total swaps per whale since 2022-01-01. Only one whale has more than 100 swapped. The other has less than 50 swaps or no swap in 2022.

We can see the total number of whales swap in 2022 in the below line chart.

What assets are whales swapping from?

It's time to find out which assets were swapped from and into other assets by whales. What do you think? Which assets are more popular to whales?

In the three below chars, we can see top assets swapping from in Algorand since 2022-01-01.

To understand charts better, I investigate in two parts.

• First: Based on the total number of assets that were swapped.

• Second: Based on the volume of the total swap were swapped.

Based on the total number of swaps, It seems Yieldy is the most popular asset for Algorand whales. They swapped Yeildy more than any assets in 2022.

What assets are whales swapping into?

Conclusion

Based on swaps volume, It seems the Svansy coin is the most popular asset for whales. About 80% of swaps volume went through Svansy coin.

In the below chart, We can see the daily total number of assets swaps.

• On February 22nd, Opulous were swapped about 22 times by whales. On some days, They didn't any swap and just Sleep with their Algo.

We talked about swapping from by whales. Now it's time to understand what are top assets that swapping into by Whales in 2022. In the three below charts, We can see top swapping into.

Like the previous analyze, We can see top swapping into assets in two types

• First: Based on the total number of assets swaps

• Second: Based on the total swaps volume

Based on the total number of swapping into, Whales are swapping into Yeildy asset. About 31% of swaps were going through Yeildy. The second popular asset by whales is USDC with about a 15% share.

Based on Swaps volume and like swapping from, Again Svansy coin has the most volume in comparing the others.

In the end, The above chart shows the daily total of swapping into by whales in 2022.

On April 12nd, Gard assets were swapped more than 20 times.

I think whales on Algo have similar activity with other whales in other networks. To understand swap charts better, I change the whale definition. In cryptocurrency, a whale's definition is The largest holder, who holds over $1 million worth of crypto in their wallets.

Back to the analysis. We can say whales are holders. At a specific time, they will sell or buy more. It depends on their strategy.

Thank you for reading!

Written by Hess

Discord id: hess#0890

Twitter id : @hessaminanloo