1M New Algorand Wallets In May
Q66. From May 4th to May 10 we saw over a million wallets being created. What are these new wallets doing on Algorand?
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- UCDC was the most popular token that these cohort swapped their token to.
- While Algo can also be seen as a popular token to swap to.
- USDT and STBL also can see in the top 10 tokens that these cohort swapped their tokens to which shows that there was a tendency for that people to swap their tokens to stablecoins or Algo token.
- Majority of the swaps that were done by this cohort was started from Algo.
- Next popular token to start the swap from is USDC.
- The top asset that these wallets are holding is Xfinite Entertainment Token.
- Then we can see stablecoins on these wallets (USDC and USDT)
- Majority of these wallets are using tinyman as the proram for swapping.
- Algofi and Pactfi were the other two dexes that these wallets were using for swapping.
- Out of the 1.3M wallets that were created in this time period, 98.9% of the wallets hold more than 0 Algo but less than 1 Algo.
- With the 0.697% wallets with 0 Algos that makes 99.6% of the wallets with less than 1 Algo.
- There were no wallets with 1M Algos in other words there were no Whales that created their wallet during 4th to 10th May.