New users on-ramping onto THORchain

Toda, we are gonna analyze the breakdown of new users on-ramping onto thorchain by chain, from which chain are they comingand also if they are swapping for RUNE or for an asset on another chain. To do that, we will take into account Flipside Crypto data and we will use Python to obtain final charts. The new user selection criteria has been established as the user who has made his first transaction in the last month.

The first chart shows which are the main chains from where new THROchain users come. As we can see, there are 6 major chains, in which we can highlight 3: BNB, ETH and THOR. The other three are BTC, LTC, BCH.

Goging deeper, if we analyze from which pools they come, we will see a reasonable distribution because of the two major pools are from BNB, which was the most important into the previous chart. It is to say that between two first pools and the rest there are a heavy difference in terms of users.

Moreover, if we analyze the swaps inside the platform, we can see some difference in respect of what we seen in the previous charts. In this case, we can see that the major of new users swap for RUNE, which is important because of it indicates that the platform is useful and its native token RUNE are experiencing some grow in terms of holders and interests.

Hope, it could be useful for you and enjoy the content. For any question or if there is something you want to discuss, please do not hesitate to comment below in this post. Thank you :)!

Author details:

Name: Adrià Parcerisas

Discord: adriaparcerisas#5642

Notion name: adriaparcerisas

Source of data: First swap for THORChain new wallets | Flipside Crypto

Ph.D. ML and AI | Blockchain Technology and Cryptocurrency Expert