This analysis focuses on the Atom holders within the Cosmos chain, particularly the Cosmos Hub. I examined various parameters on the Cosmos network, including:

    • Atom Balance
    • Top Holders
    • Holders Breakdown
    • Holders Activities on Cosmos chain
    • Whales
    • Staking Activities by Holders
    • Atom balance on Cosmsos Vs. Osmosis
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...

    Users Activities


    Here, I examined the monthly number of transactions and amount of Atom transferred between wallets per group of holders.

    • Users with 10-100 Atoms had the highest monthly shares until November 2021, accounting for 30% of total transactions. After November 2021, the share of these users decreased, and instead, the group of users with less than 1 Atom had the highest share. Interestingly, after November 2021, 20% of transactions were made by those holding more than 100K Atom. During the past two years, users with below 1 Atom had more than 1M transactions.
    • There are two groups of users who have transferred more than 300M Atom since 2021. One group comprises holders who hold below 1 Atom, and the other holds more than 100K Atom.
    • The share of these two groups were around 30-33% of total transferred Atom. After these two groups, Holders with 5K-50K Atom transferred over 100M in two years.

    Staking Activities

    Staking has emerged as a highly popular activity on the Cosmos Hub, and I analyzed staking activities among different groups of Atom holders.

    Among the various groups of Atom holders, those who hold between 10 and 100 Atoms in their wallets have consistently recorded the highest number of stake transactions since the inception of the Cosmos chain. Over the past two years, they have accounted for approximately 35-45% of the monthly market share. Following this group, users with 100-250 Atoms have exhibited high staking activity. However, users' engagement with balances below 1 Atom has declined over time.

    In terms of the total amount of Atom staked, users holding more than 100,000 Atoms have staked the highest quantity. Over two years, this group has staked 36 million Atoms. Subsequently, holders with 10,000-50,000 Atoms have staked the second-highest amount of Atom.

    Cosmos Vs. Osmosis

    As you may know, Users can hold their Atom on Cosmos or Osmosis chain. I compared these two chains in term of holding Atom.

    • Number of Holders: Only 16% of total holders hold their Atoms on Osmois chain, while 84% hold them on Cosmos.
    • Amount: The total Hold Atom on Cosmos is vastly different from the amount on Osmosis. 74M Atom are held by users on Cosmos, while 1.1M Atom are held by users on Osmosis. Atom is valued at 1B US dollars on Cosmos, while on Osmosis, it is valued at 16M US dollars.
    • Average/Median/Max: The average amount of Atom per holder is 134 on Cosmos and 11 on Osmosis. The highest amount of Atom that hold by one wallet is 9.19M on Cosmos and it is 137K on Osmosis chain.

    Atom Whales

    Atom whales are wallets that hold more than 100,000 US dollars worth of Atom. On the Cosmos Hub, there are currently 813 wallets that fall into this category.

    I analyzed the total and average number of transactions made by Atom Whales since February 2021. From February to May 2021, the average number of transactions per whale was around 400 per month. However, this average gradually decreased over time, and recently, it has stabilized at around 70-100 monthly transactions.

    In contrast to the average number of transactions, the total monthly number of transactions by Atom Whales has increased since January 2022. Before this, the total number of transactions remained below 50,000 per month. Since January 2022, Atom whales have consistently generated a higher total number of transactions, ranging from 80,000 to 100,000 transactions per month.

    Holders Activities

    db_img

    Method

    The Flipside tables do not offer direct access to users' balances. Instead, I estimated users' balances by analyzing the Transfer tables. I determined the current positive balance by calculating the total amount of atoms sent and received. To ensure accuracy, I cross-referenced the data with the Mintscan website and eliminated any irrelevant addresses from the analysis.

    Note: Only wallets that have interacted with the Cosmos Hub are considered in this analysis, excluding wallets belonging to centralized exchanges (CEXs).

    Holders Overview

    Analyze Date: 2023/MAY/23

    Atom Holders

    There are 609,000 unique Atom holders, with 106 million Atom in their wallets. At the current price of Atom, this amounts to approximately 1.1 billion US dollars.

    On average, each wallet holds around 173 Atom, which translates to approximately 1,800 US dollars.

    The chart below illustrates the number of Atom holders over the past two years. The period between January and March 2022 experienced the highest influx of new Atom holders to the Cosmos chain. However, since then, the number of Atom holders has gradually declined, with daily figures dropping below 1,000.

    Considering the cumulative number of 751,000 unique holders to date, it can be estimated that around 150,000 holders have departed from the Cosmos chain.

    Top Holders


    After examining the Mintscan website, I discovered that nearly all Atom holders are concentrated within the top 50 positions.

    The largest Atom holder on the Cosmos chain has an impressive wallet balance of over 9.8 million. There is a significant difference between the top and second-ranking holders, who own 3.3 million Atom. Similarly, the third-ranking wallet also holds over 3 million Atom.

    Among the top 50 wallets, the smallest balance held is 234,000 Atom.

    Holders Breakdown

    The breakdown of Atom holders was analyzed using two different approaches: based on the number of holders in each group and based on the total amount of Atoms held by each group.

    When considering the number of holders in each group, the findings are as follows: Approximately 71% of all holders possess below 1 Atom in their wallets. Another significant group, accounting for 13.2% of all holders, holds between 10 and 100 Atoms. A tiny percentage, around 0.013% of all holders, possess more than 100,000 Atoms.

    In terms of the total amount of Atom held by each group, it was observed that there are already 99 unique wallets owned by the top 0.0013% of all holders that contain more than 100,000 Atom. Remarkably, this group holds the largest overall amount, with 62 million Atom. On the other hand, the group of Atom holders with balances below 1 Atom holds the least amount, with only 19,000 Atom collectively.

    Loading...
    Loading...
    Thank You For Reading!

    My Other Analyses: Flipside

    Discord_id: hess#0890

    Loading...
    Loading...