Polygon: New Addresses

    Q2. Draw a chart showing the number of new addresses every day on polygon(matic) network. New addressses are unique addresses that appeared for the first time in a transaction of Matic.

    Approach

    For this analysis we will be looking at flipside_prod_db.polygon.udm_events. For the purpose of this analysis let's define a few terms.

    • An address that initiated a transaction for the first time is considered a new "active" address.
    • An address that received a transaction for the first time is considered a new "passive" address.
    • However, New address can either be an active or passive address, and we considered which ever comes first as the date of initiation of that particular address.
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    These are the number of daily wallets which made a transaction for the first time. We'll name them as new "active" wallets.

    • we can see an unusual spike on 25th of September 2020, 94K+ new addresses made made a transaction for the first time on that day while the days close to that day sees only 2-3 digit new address count.
    • The number of new "active" wallet count has started to grow since April 2021.
    • Highest was on 8th of November 2021.
    • There are certain weeks like the first week of August 2021, last week of September 2021, where we see a cluster of spikes.

    These are the number of daily wallets which received a transaction for the first time. We'll name them as new "passive" wallets.

    • There's a huge spike on 8th of November 2021, which is around 7M new wallets that received something for the first time.
    • Similarly there's another bigger spike on the very next day (9th of November).
    • There are few other spikes with over 1M new "passive" wallets on 17th September 2021, 12th and 13th of January 2022.
    • These looks like airdrops (most likely spammy airdrops) on 8th of November it was 0xeCDFf6Fd2f184f8B8987682A10Aa6890ca74c5A8 (MNEP token), on 17th of September it was 0xe4fb1bb8423417a460286b0ed44b64e104c5fae5 these tokens are labelled as risky/spammy on polygonscan

    However, in order to find out the daily new addresses we need to look at the new addresses either made a transaction or received a transaction for the first time.

    • The airdrops that's sent to new wallets were the first transaction most of the new wallets received.
    • Except for the huge spikes we see with airdropped tokens to new wallets, usually the polygon chain get less than 100K new wallets per day in general.