Based on the findings, we can say that the majority of whales are interacting with Mirror and Anchor Protocols while new users have yet to discover them.

Conclusion

Whales

New Users

To define a whale, first we must rank the addresses based on their USD Value. For this case, the USD Value is calculated by finding out the USD value of all the tokens in the address based on their latest balances. Whales are then determined by taking the top 0.1% rank of these addresses based on their USD values.

Based on these assumptions, we can assume that there is a total of 2715 whales in Terra.

Among these 2715 wallets, about 87% had interacted with Mirror, about 84% had interacted with Anchor, and 82% had interacted with both.

Even though 96885 new users had joined the Terra in the past 2 months, only a handful of them interacted with Anchor and Mirror Protocols, which is about 8.5% for Mirror Protocol, 7.8% for Anchor Protocol, and 5.4% that interacted with both.

The graph below shows the number of new users that had joined Terra in the past 2 months.