This analysis aims to achieve active users in the Thorchain ecosystem. For this purpose, we first define the active user. An active user is said to have made a transaction on the Thorchain network. On the other hand, the active user can also be defined as addresses with some RUNE in their wallet or an open LP position.

Introduction

Methodology

First, we obtain the total number of unique users who have transferred tokens on the Thorchain network using Table flipside_prod_db.thorchain.transfers. Then, we get the total number of RUNE holders using the data in table flipside_prod_db.thorchain.transfers. Next, using Table flipside_prod_db.thorchain.liquidity_actions, we calculate the number of wallets with an open LP position and discuss their number daily. Finally, we talk about the effect of RUNE price on the number of wallets with an open LP position.

Analysis

The chart below shows the daily number of active wallets.

As you can see, the highest number of wallets in 2021 is related to November 3 with 2788 wallets, and the highest number in 2022 is associated with May 25 with 2921. In general, the number of users has grown significantly since May 2022.

Also, the number of wallets with open LP position has reached 21.91K.

In the following, you can see the daily chart of the number of wallets that have an open LP position.

According to the chart, on July 2, 2021, 1249 wallets were opened LP position, and the next peak occurred on November 3, 2021, with 1227 wallets. Also in 2022, the highest number of wallets occurred on March 26 with 598 wallets.

Finally, we explore the relationship between the price of RUNE and the number of wallets with open LP positions.

At present, the total number of wallets that hold RUNE has reached 28.96K.

As can be seen from the graph, we also expected these two parameters to be positively correlated. As the price of RUNE increases, the number of LP positions also increases and vice versa.