16 [ALGO] Algorand Assets Using Account Asset Table

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    Intro

    As a blockchain gets popular, the number of assets grows. Recently there's been a pump of scam ASAs on Algorand because it's very easy to create an ASA. Perhaps too easy!

    In this analysis, let's look at the what have been the most popular ASAs held in wallets.

    Insights

    • Perhaps to no surprise, two stablecoins are the top 2 most popular ASAs held in over 1 Million wallets.
    • More surprisingly, Opulous is quite a bit more popular than Yieldly.

    Assets in Wallets over time

    • 2021 was the year Algorand saw massive adoption.
    • This is evident as we can see massive spike in the number of wallets holding the top 10 assets during the latter half of 2021.

    Share of assets in wallets

    • Using a stacked chart, we can see the share of ASAs in wallets. In the beginning it was all Asia Reserve Currency Coin but then USDT started domination almost 100%.
    • Beginning in September 2020, we start seeing USDC enter user wallets
    • Since then we've seen the emergence of Opulous, Yieldly, PLANET, Tinymap LPs and Smile Coin

    Comparing top projects

    Comparing the top 3 projects, we can see that it's a see of green. After spiking in November, the number of wallets holding these coins has decreased. This is likely because of the down market recently and people selling these coins to cover their leveraged positions.

    Conclusion

    1. USDT and USDC are the top 2 most popular held ASAs.
    2. Opulous is more popular than Yieldly