According to the aforementioned figures, the majority of Axelar bridgers (45.4% of all bridgers) have completed two to five bridge deals. We have bridgers in the second rung who have only completed one bridge transaction.

Only 5113 bridgers (5.78% of all bridgers) have used satellite for more than 10 bridges.

Additionally, we can observe that the wallet address 0x16c5d5ef8e8d41ad626ecb0d2f7b8179f4ae856e (Polygon) executed the most bridge transactions via Satellite bridge, using Axelar as the source chain and Polygon as the origin chain.

We can see that 4 of the top 10 Axelar bridgers have Kujira as their destination, followed by 2 Avalanches, 1 Ki, 1 Osmosis, and 1 Terra. However, the Axelar network served as the source chain for 8 of the top 10 bridgers, therefore this ranking also includes 1 Ethereum and 1 Avalanche.

The data  show that Axelar network is the source of a greater average number of bridges than other chains.

On the other hand, we can see that the Ki network has by far the highest average number of bridges in terms of destination.

The statistics above show that 7.69 days on average pass between a bridger's bridges (almost 1 week). In addition, it is clear that, among the other networks, the Avalanche (as the source chain) and Terra (as the destination chain) have the highest frequency of bridges (lowest bars, which reflect the lowest time difference between bridge transactions).

The average wallet balance of Satellite bridgers is 95.7k USD, according to the left-hand graph.

The highest average number of bridges by users who have more than $100,000 in their wallets can be seen on the right chart. On the other hand, users with less than $100 in their wallet have the lowest average number of bridges per bridger.

We can therefore draw the conclusion that a bridger's wallet balance appears to have a very positive correlation with the number of bridges they have on the satellite bridge. Bridge transactions have been carried out more frequently in wallets with larger balance. The highest percentage of "More Than 10 Bridges" belong to users with a wallet balance of at least $100,000, as shown by the left chart. On the other hand, we can see that the proportion of One Time bridgers is highest in wallets with balances under $100.

This is another more evidence that bridge transactions were carried out more frequently in wallets with higher balances. The wallets with balances greater than $100,000 have the highest frequency (lowest time difference between their bridge transactions), which is shown in the left chart as evidence for the foregoing conclusions.

According to the aforementioned data, approximately 88.5k different wallets have bridged their assets using the Axelar Satellite bridge.

Additionally, we can see that between February and March 2022, the most bridge activity was accomplished. (As evidence, the highest peak of bridging activity on satellite occurred in February 2022, according to the official Axelarscan website.)

Additionally, we can see that between February and March 2022, bridger activity peaked and then sharply declined. However, we can kind of see an increase in bridge activity and bridger activity after October 2022.

Additionally, we can see that during February and March 2022, bridger activity peaked and then sharply declined. However, we can kind of anticipate an increase in bridge activity and bridger activity beyond October 2022.

Conclusion

According to the data, 88.5k wallets have used the Axelar Satellite bridge.

February and March 2022 saw the biggest bridge activity. According to Axelarscan, satellite bridging peaked in February 2022.

Bridger activity peaked in February and March 2022, then dropped. After October 2022, bridge and bridger activities may grow. According to the data, 45.4% of Axelar bridgers have completed two to five deals. Second-rung bridgers have only done one deal.

5.78% of bridgers have used satellite for more than 10 bridges.

Wallet address 0x16c5d5ef8e8d41ad626ecb0d2f7b8179f4ae856e (Polygon) conducted the most bridge transactions using Satellite bridge, utilizing Axelar as the source chain and Polygon as the origin chain.

Four of the top 10 Axelar bridgers go to Kujira, followed by Avalanches, Ki, Osmosis, and Terra. Axelar was the source chain for 8 of the top 10 bridgers, hence this list also includes Ethereum and Avalanche. Axelar network has more bridges than other chains, according to data.

The Ki network has the most bridges by destination. 7.69 days pass between a bridger's bridges on average (almost 1 week). Avalanche (source chain) and Terra (destination chain) have the most bridges among other networks (lowest bars, which reflect the lowest time difference between bridge transactions). The left-hand graph shows the average wallet balance of Satellite bridgers.

The right figure shows the average number of bridges built by people with above $100,000. Less-than-$100-wallet users have the fewest bridges per bridger.

We may conclude that a bridger's wallet balance positively correlates with the number of bridges on the satellite bridge. Larger wallets have more bridge transactions. The left chart shows that customers with a $100,000 wallet balance have the most "More Than 10 Bridges." One Time bridgers are most common in wallets under $100.

This shows that wallets with bigger holdings conducted more bridge transactions. The left figure shows that wallets with balances over $100,000 have the highest frequency (shortest time between bridge transactions). Bridger activity peaked in February and March 2022, then dropped. Beyond October 2022, bridge and bridger activities may grow.

Methodology

In this dahsboard, we will try to plot out user types and their behavior leveraging Axelar's bridge and the frequency of bridges on Axelar’s Satellite by bridges to find the following questions: How often are people using Satellite - one-time transfers into IBC or more consistent/steady streams? Does this vary based on wallet size? Does this vary based on the ecosystem they are bridging from/to?

We will provide information about: 1. Axelar Satellite bridge and users 2. the average number of bridges on Satellite 3. the top 10 bridge users 4. the frequency of bridges by chain 5. the frequency of bridges by the bridge user’s wallet balance

What is Axelar?

Axelar delivers secure cross-chain communication for Web3. Secure means Axelar is built on proof-of-stake, the battle-tested approach used by Ethereum, Cosmos, Avalanche, and more. Cross-chain communication means you can build a complete experience for your users that lets them interact with any asset, any application, on any chain with one click.

What is Satellite?

Satellite is a web application built on top of the Axelar Network. It provides an easy to use interface which enables users to transfer their crypto assets from one chain to another.

What is Satellite Bridge?

Axelar is a universal interoperability layer that connects L1 blockchains through a decentralized network. Using Axelar's SDKs, any smart contract developer can seamlessly call a contract on another supported chain with a simple asynchronous call. The simplest form of cross-contract calls is bridging.