Terra Active Users
The Question
The question of “active wallets” faces every ecosystem. Let’s investigate this question for Terra — and go beyond the “one transaction in 30 days” approach!
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Define what an active, high quality user looks like and how it can be measured. Assess how many active users exist on Terra, according to your definition. Additionally, provide a few brief, specific ideas to attract additional users, as well as an assessment of what it would cost to implement these ideas.
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What is the acquisition cost for a high-value user, according to your recommendations?
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Methodology
In this dashboard, which consists of two parts, General and Active Users, you can get general information such as the general statistics of new and old users in the first part, as well as the distance between the first and second transaction, user retention and other related information. In the second part, we will examine the active users. ==In this dashboard, an active user is defined as someone who has at least one transaction (send or receive) registered for him/her in at least 25% of the days from 29th May 2022 onwards==. ==It has a dynamic mode, in other words, you can see the results related to your definition by changing the percentage of active days on top left.
All results are obtained by taking into account the activity in at least 25% of the days.
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The first chart shows the Terra transactions stats . as can be found in the graph, daily transactions and active users, had experienced a jump one on late May and then on early September 2022. Overall trend of Transactions and active users were positive on 2022.
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Looking at the area chart which discloses the first time users’ share on Terra, we can see that , on some periods like early July, mid Sep and also mid Nov, the rate of new users was more than 20 % . this is tremendous and very important for this Network .
this ratio has declined on latest weeks , maybe due to bear market.
Observations
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The results show that more than 99.5% of the users are in the "inactive" group. Nevertheless, even though the "active users" group is in the pure minority, with 59.2% of the transactions, it had more transactions than the second group. In other words, the average number of transactions per user in the active group, with 851 to 5, had a clear advantage. Also, the transaction accuracy of the active group was slightly higher than the other group, with 98.68% versus 98.17%.
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The results show that more than 98% of the transactions of the active group were related to the DEX sector. With a closer look, POOL is the top subsector, and in this sector, Astroport Luna-AxlUSDC Pool has been highly popular among active users.
Part 2 - Active Users
In this section, we will review active users. In this dashboard, an active user is defined as someone who has registered at least one transaction (send or receive) on at least 25% of the days since May. It has a dynamic mode, in other words, you can see the results related to your definition by changing the percentage of active days. All results are obtained by taking into account the activity in at least 25% of the days.
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55.5 % of Terra users, did their second transaction in the same day of first transaction. the second in the list for this metric is 1week.
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53.1% of Terra w users, did only 1 transaction and never came back to the chain again.
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72.7 % of Terra users, was active on 1 month, while 12.5 % were active on 2 months and the share of 3 month actives is 4.5%.
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Conclusion - Unlocking the Potential of Active Users in Cryptocurrency and Blockchain & some suggestions
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Active users play an integral role in the evolution of blockchain technology. As more people enter into the blockchain space, it has become easier to understand and utilize blockchain applications. Through the use of cryptocurrency, active users are able to transact and exchange value with peers on a secure and transparent platform. Furthermore, active users are able to contribute to the development of projects through mining or staking activities, thus enabling a feasible ecosystem for all participants.
The importance of active users in blockchain cannot be overstated. They provide liquidity and foster innovation in the industry by providing feedback about their experience with different products or services. Moreover, these active users also help spread awareness about blockchain technology amongst new entrants who may not be familiar with its potential applications yet.
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Attracting new users is essential for any project or business to grow and succeed. With the Terra blockchain, businesses can gain an edge over the competition by utilizing its powerful features to attract new users.
For the Terra blockchain offering more variety of tools and features ,can be used to attract new users. Projects can use the blockchain to create their own tokens and launch Initial Coin Offerings (ICOs) that will allow them to raise funds for their projects. Additionally, the Terra blockchain also can offer more smart contracts, which can be used to automate processes and ensure secure transactions between parties. Moreover, developers can use the Terra blockchain’s API more easily to build applications on top of it, making it easier for businesses to reach out and engage with potential customers.
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