Most Popular ASA To Swap From ALGOs

Let’s look at what ASAs(Algorand Standard Assets) are most popular to swap into from ALGOs in 2022 using the swaps table

Introduction

The objective of this article is to identify the 10 most popular assets that user swap to after giving up their algorand. The top 10 assets are evaluated on the basis of their total volume (The volume would in ALGOs would be the sum of all the ALGOs wallets sent in to receiver the asset) and the average amount of algos swapped for each aasset.

Further we also have a look at the performance of those 10 coins this year ie. 2022 and if there are any trends.

Swapped volume of top 10 assets

Here, we look at the volume of the 10 most swapped coins. We define volume as the total number of distinct transaction groups and we also consider only those transactions where the algo swapped is greater than 0

On seeing the above graph, we can see that Yieldly and USDC are by far amongst the most swapped coins. while usdt, smile, opulus and choice are almost on the similar range.

Average amount of ASA swapped

We now look at what the average amount of algo is swapped for each asset. We calculate the average as the total amount of algo swapped / number of swaps, and we also consider only those transactions where the algo swapped is greater than 0

We surprisingly see that yieldly which had the highest swap volume, does not have the higher average algo per swap. This position is taken by USDC. This means that though the number of swaps for USDC is less, the total algo swapped for it is higher. Another notable observation is the average amount of PLANET and AKITA INU which did not have a considerably high volume yet have a good average algo swapped.

Table containing the result.

As asked in the bounty question, we include a table with the asset name, volume and average amount of algo swapped.

Trend of top 10 coins.

The last part of the questions asks to visualize the trend of the top 10 assets for the year 2022 and identify the noticeable deviations.

On going through the graph, there are 3 important observations one can make.

Observations

Rise of Opulous - the number of swaps to opulous has increased by a huge margin. This could be becasue of the launch of OPUL liquidity pools on several DeFi protocols that are Algorand-based.
The popularity of Akita - inu, a meme based coin has fizzled out.
Tether USDT never recovered to its intial level after the tinyman hack.