There has been a push for HBD adoption around the globe. Merchants accepting HBD as payment. This especially in places like Venezuela and Cuba, but in other places in Europe as well. The recent increase in the crypto prices might add some fuel as well.
How is this affecting on chain activity. We can take a look at the number of transactions and accounts making transfer. If HBD adoption is increasing this should increase as well.
Let’s take a look.
Here we will be looking at:
- Daily/monthly transactions
- Daily/monthly number of accounts transfering HBD
- Daily/monthly HBD value transfered
- Top accounts by number of transactions and value
The period that we will be looking in is starting from the Hive fork back in March 2020 till now.
Number of HBD Transactions
Here is the chart for the data on HBD transactions made per day.
As we can see back in April 2020, this number was low, under 1k HBD daily transactions. It increased since then going up to 3k daily transactions, with occasional spikes up to 10k.
In the last period the number of transactions has increased again and is now close to the previous highs! Around 2500 daily HBD transactions.
When we plot the data on a **monthly level we have this:
Here we can see an even clearer trend. An uptrend up to 2022, then a period of stagnation. A drop in 2024 and increase in the last months. December is not over yet, so it will probably be higher then November, or close to 50k. Still far from the monthly ATH back in April 2022.
Number of Accounts Transferring HBD
How many users are transferring HBD per day? Here is the chart.
The trend here is similar as for the transactions. At the beginning there is just around 200 DAUs, then the number increased to almost 1k in 2022, and a sort of stagnation since then. We can notice a small uptrend in the last few days, the very end of the chart.
In the last period there is around 800 accounts making HBD transactions per day.
On a monthly level the chart looks like this:
An uptrend towards 2022 and a small downtrend since then.
In the last months the number of HBD MAUs has been almost the same at 10k HBD users monthly.
Transferred HBD Value
What about the amount/value in HBD that has been transferred? Here is the chart for the daily amount of HBD transferred.
We can clearly see the spike back in August and September of 2021. There was an increase in the HBD value back then and a lot of arbitrages was happening. A few spikes since then to more than a million HBD daily transferred but overall the values are around 70k HBD transferred per day. This is the number for the average daily HBD transferred in the last months as well.
The chart for the monthly HBD transferred looks like this:
Here again we can see the spikes in August and September 2021. More than 20M HBD was transferred around in August alone and September has been close to 18M.
In the last period there is around 2M HBD volume per month.
Top Accounts
Who is making the most HBD transactions? Here is the chart for the last 30 days.
The @reward.app has been making a lot of HBD transactions, or in total of 9k operations involving HBD. @commentrewarder is in the second spot, followed by the @thedistriator. Because of the feeless system on Hive, users can make thousands of transactions in HBD without worrying for gas fees.
The above is in terms of the number of operations. What about in terms of value? Users can make a lot of small transactions with HBD, but some can make a fewer transactions but with bigger HBD amounts.
Here is the chart for the top accounts transferring the biggest volume in HBD in the last 30 days:
@mika is on the top here, followed by the Upbit account @hot1.dunamy and @newsflash. Between 70k and 170k HBD moved by these accounts in the last 30 days.
All the best
@dalz
I sort of revisited the v4vapp. I haven't used the service yet but It would seem like there would be a lot of utility with that. Was that the same group rolling out a full DeFi implementation as well?
The bars at the beginning of the charts are downwards, the bars in the middle are upwards and the bars at the end of the charts are downwards again. HBD transactions have increased in the middle of the charts. Very important information
!PIZZA
The decrease in monthly transfer volume is remarkable. It has decreased from 21 million to 2 million. The highest periods coincide with the months when HBD interest started
$PIZZA slices delivered:
@danzocal(6/10) tipped @dalz