Transaction Statistics

• The number of transactions has dropped since the beginning of 2023, reaching 1197 transactions, also since the second day of January 2023, the number of transactions has started to increase. The average number of transactions per day on Christmas was 1.447k while it was 2.240K on previous days. 
• In addition, there is a fluctuation in the typical daily volume of transactions on Terra. Still, the average volume of transactions for the new year is 2.57M which is bigger compared to previous days with an average number of 1.82M transaction volume.
• The daily transaction fee showed a small difference between Christmas and the previous days, still, the average transaction fee for the new year is 18.77 LUNA decrease compared to previous days which was 22.06, so we can infer that the typical fee was lower around Christmas.
• Finally, in the case of TPS, we can see a sudden decrease since the beginning of the new year while the average TPS amount is 0.017 for new year is much smaller than the TPS amount of the previous days with an average of 0.026.

LUNA Price

• In the case of price, we see that although the LUNA price decreased during December 2022, it started to increase since the beginning of 2023. Also,  the whole cryptocurrency market increased since then, so it doesn’t show any noticeable pattern for the Terra ecosystem.

Wallets Statistics

• The number of daily active users has remained stable after the new year until January 9, when there was a sudden spike with 1356 unique users. This pattern can be seen in the average number of users, which is close together for the new year with 666 users and previous days with 674 users.
• On the other side in the case of new users, we can see a decrease since the beginnig of new year which can be seen by comparing the average amount of new users for new year ,114, and previous year, 133, so we can infer that on Christmas days less users are joining the Terra ecosystem.
• When it comes to comparing the top 10 users by the number of transactions and paid fees in the new year and the previous year, we see that the first place remained stable, but the other places have changed.
• Also, there is a noticable change when we compare the top ten richlist of previous days and new year.
• Finally, comparing the distribution of wallets by transactions, we see that in the new year the percent of wallets with between 2 and 10 transactions has increased compared to previous days, while there is a decrease in the percent of wallets with more than 10 transactions, which is not a problem because only ten days have passed since the beginning of the new year.

Contracts

• A total of 53 contracts have been deployed since the year 2023 began. In general, 5.89 contracts are deployed on average, so Terra 2.0 appears to be active and thriving.
• The daily data shows that the number of newly created contracts rises at the start of the year and reaches 9 in one day on January 4 and 5, respectively.
• In December 2022, 127 new contracts were deployed. And the number resumed its prior trend at the start of the year.
• In the case of most interacted contracts, Astroport still has the lead with more than 50% of interactions, also there is not noticable chane in the other positions. 

Stablecoin Transfers

• With the beginning of new year stablecoin transfer transactions remained stable until the sudden increase in the both transfer in with 80 and transfer out with 3599 transactions.
• Also the average number of stablecoin transfer in transaction was 41.4 for previos days while it is 41.6 for new year and the average number of stablecoin transfer out transaction was 877.06 for previos days while it is 922.44 for new year.
• But in the case of stablecoin transfer volume, we can see an increase with the beginning of new year which can be seen using the average volume charts for both transfer in and transfer out transactions. Also the average volume of stablecoin transfer in transactions was 269.12k for previos days while it is 258.14k for new year and the average number of stablecoin transfer out transaction was 629.04k for previos days while it is 820.37k for new year.
• Also we have the same pattern for the stablecoin transfer users.
• So, we can infer that the stablecoin transfer out transactions has a great increase in all case of transactions, user and volume since the beginnig of new year while it approximately remained stable for the transfer in tranactions.

Swaps Activities

Swap Activities

• The number of swap transactions from the $LUNA showed a little increase in the final week of 2022, but that number has dropped since the beginning of new year.
• On December 30, 2022, the swap volume from $Luna reached a peak of 6.7M $LUNA, however it fell back to a daily average of 780K $LUNA.
• Around 140 wallets were swapped during the previous days which is increase to an average of 162 users since the beginnig of new year, and we constantly observe approximately 20 new wallets exchanging for the first time from $LUNA since the new year.
• Last week of 2022 saw a little increase in the number of swap transactions to $LUNA, but that number has since dropped to less than 300 swaps till the sudden increase on January 9 with 1278 transactions.
• On December 4, 2022, the swap volume to luna reached a peak of 2.32B $LUNA; however, this increase was only momentary, and it soon returned to a daily average of 93.11M $LUNA till the new year when it decrease to 31.24M $LUNA.
• Around 75 wallets are swapped daily since the new year, which has increased compared to 63 wallets during the previous days.

NFT Sales

NFT Sale Activities

• The NFT sales has experienced an average of 14.25 transactions, 8 buyers and a volume of 547.75 $LUNA over the previous days while it has reached to an average of 12 transactions, 6 buyers and a volume of 552 $LUNA since the beginning of new year, which can be seen using the daily charts.

• the other noteworthy point is on only the first two days of December 2022 nft sales witnessed a surge in all of metrics.

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Price

Transactions

Wallets

Development

Stablecoins Activities

Staking Activities

Staking

• The graph's analysis indicates that there have been less transactions on both delegate and undelegate actions on Terra since the beginning of 2023, while we had an increase in the number of redelegate transactions which can be proven comparing the average number of transactions which is 944 delegate, 119 undelegate and 60 redelegate transactions for previous days while it is 641 delegate, 115 undelegate and 71 redelegate for the new year. so we have a missive decrease in the number of delegate transactions which is not a good sign for the ecosystem. Numerous variables, including a decline in investor confidence in Terra's services or fewer people using the network, could be to blame for this.
• But in the case of number of users we have an increase in the number of delegate and redelegate transaction users while for the undelegate users the number is somewhat stable.
• In the case of the volume of staking activities there is a massive decrease in the volume of redelegate and undelegate transactions, while the volume of delegate transactions has increase all these volume parameters are good sign for the Terra ecosystem.

Conclusion

• The LUNA price fell in December 2022 but began rising in January 2023. Since then, the cryptocurrency market has grown, so it doesn't reflect any pattern for Terra.

• From 2023 began, the number of transactions has declined to 1197. However, since January 2nd, the number of transactions has begun to rise. Christmas day average transactions were 1.447k compared to 2.240K on other days. Terra's daily transaction volume varies. Still, the average transaction volume for the new year is 2.57M, which is higher than the prior days' 1.82M.

• The daily transaction fee indicated a modest variation between Christmas and prior days, but the average fee for the new year is 18.77 LUNA less than previous days, which was 22.06, thus the typical fee was lower around Christmas. The average TPS for the new year is 0.017, which is substantially lower than the average of the previous days, 0.026.

• After the new year, daily active users remained constant until January 9, when 1356 unique users jumped. The average number of users for the new year and prior days is 666 and 674, respectively. We can infer that on Christmas days fewer users are joining the Terra ecosystem by comparing the average number of new users for the new year, 114, and last year, 133. Comparing the top 10 users by the number of transactions and paid fees in the new year and the previous year, the first place stayed consistent, while the other places altered. Also, the top ten Richlist of prior days and the new year differ. Lastly, comparing wallets by transactions, we see that in the new year, the percentage of wallets with 2 to 10 transactions has increased compared to previous days, while the percentage of wallets with more than 10 transactions has decreased, which is not a problem because only ten days have passed since the new year.

• Since 2023 began, 53 contracts have been awarded. Terra 2.0 is busy and thriving, with 5.89 contracts deployed on average. The number of new contracts climbs at the start of the year, reaching 9 on January 4 and 5. 127 contracts were deployed in December 2022. At the start of the year, the trend resumed. Astroport still leads most interacting contracts with over 50%, while other ranks haven't changed.

• Stablecoin transfer transactions remained constant until a dramatic surge in both transfer in (80) and transfer out (3599). The average stablecoin transfer in transactions was 41.4 for the previous days and 41.6 for the new year. Average stablecoin transfer out transactions were 877.06 for the previous days and 922.44 for the new year. Stablecoin transfer volume increases with the new year, as evidenced in average volume charts for both transfer-in and transfer-out transactions. The average number of stablecoin transfer-out transactions was 629.04k for the previous days and 820.37k for the new year. Since the new year, stablecoin transfer-out transactions have increased in transactions, users, and volume while transfer-in transactions have stayed stable.

• The graph's analysis shows that there have been fewer delegate and undelegated transactions on Terra since the beginning of 2023, while the number of redelegate transactions has increased. This can be seen by comparing the average number of transactions from previous days to the new year: 944 delegates, 119 undelegated, and 60 redelegate. Delegate transactions are decreasing, which is bad for the ecosystem. A reduction in investor confidence in Terra's services or fewer network users could be to blame. Delegate and redelegate transaction users are increasing, but undelegated users are steady. In terms of staking volume, redelegate and undelegated transactions have decreased while delegate transactions have increased. All of these volume indicators are positive for the Terra ecosystem.

• In the final week of 2022, $LUNA swap transactions increased, but they've declined since the new year. On December 30, 2022, $Luna swap volume peaked at 6.7M $LUNA but decreased to 780K $LUNA daily. Around 140 wallets were switched in the previous days, increasing to an average of 162 users since the new year. We regularly monitor about 20 new wallets switching from $LUNA since the new year. The last week of 2022 saw a little uptick in $LUNA swaps, but that number has since plummeted to fewer than 300 until January 9 with 1278. On December 4, 2022, the swap volume to luna peaked at 2.32B $LUNA, but it quickly recovered to a daily average of 93.11M $LUNA until the new year, when it dropped to 31.24M $LUNA. Since the new year, 75 wallets are swapped every day, up from 63 previously.

• The NFT sales averaged 14.25 transactions, 8 buyers, and 547.75 $LUNA over the past days, and 12 transactions, 6 buyers, and 552 $LUNA since the start of the year, as shown by the daily charts. All NFT sales indices increased in the first two days of December 2022.

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Introduction

What is Terra?

• Terra is an open-source, community-owned blockchain which hosts a vibrant ecosystem of applications. On Terra, you can build applications and organizations using the available suite of cutting-edge developer tools, or simply try out existing ones by connecting a wallet.

• The Terra ecosystem runs on its native cryptocurrency, LUNA. You can use LUNA to pay for transaction fees on the Terra blockchain as you interact with various applications. Additionally, you can also use LUNA to earn staking rewards, purchase your favorite digital art, have a say on community-led governance proposals, and much more.

• Terra is permissionless and borderless, which means that its next-generation financial products are accessible to anyone in the world with an Internet connection.

  What is Luna 2.0?

• Luna 2.0 is the brand new token of the new Terra blockchain intended to rescue the Terra Luna ecosystem following the stablecoin collapse.

• Based on the Luna rebirth, TerraForm Labs founder Do Kwon's proposal saw a new chain replace the existing Terra network. Alongside this, Luna 2.0 replaced the existing version of Luna, which was tied to the UST stablecoin, and saw the crash happen in the first place.

• Alongside the new chain, most of the dApps will also migrate to the new chain.

Source

Methodology

In this dashboard, we will use the terra.core tables hosted on Flipside Crypto to create a dashboard documenting significant trends in transactions, wallets, supply, staking, development, or other aspects of the Terra ecosystem and compare the metrics over the new year with the Previous Days over the past year.

We will use the following metrics:

• LUNA Price
• Transaction Statistics
• Wallets Statistics
• Development and Contracts Deployment
• Stablecoin Transfers
• Staking Activities
• Swap Activities
• NFT Sales