Last months new Tezos account growth was an amazing 8%

Last months new Tezos account growth was an amazing 8%

By Allen Walters | Publish0x posts | 23 May 2020

Alexander Eichhorn tweeted about Tezos account growth yesterday. Great news since it mentioned an 8% growth in the number of new funded accounts. This indicates a substantial growth of new users and investors. Following the news on Tezos on a daily basis, Tezos' growth is not surprising. (See for a list of April - May news at the end of this article.) But looking into the data was a great confirmation of positive market sentiment.

"Tezos saw a growth of 35.5k new funded accounts (+8%) in April. The highest growth rate was in the balance range between 10 .. 100 tez (+3.7k, +30%), followed by 100 .. 1k tez (+3k, +21.5%). Notably, accounts holding 100k .. 1M tez jumped by +46 (+7.7%) to 636, indicating that many small investors and potentially few whales entered the ecosystem."


- Source OurNetwork 

Alexander Eichhorn is the creator of Blockwatch which offers products like TzStats, one of the most popular Tezos block explorers. Alexander Eichhorn also contributes to OurNetwork where you can find on-chain metrics. Interesting information on adoption of Tezos also indicates growth on that level:

"There has been less growth in developer activity in terms of deployed contracts and calls, but the rising gas usage suggests, the contracts that are developed are getting more sophisticated. Diversity in contract interfaces is also increasing. Highest development activity happens around oracles, tokens and games. Smart contract activity on mainnet is improving in terms of traffic and gas."

Previous growth of developer activity was higher, but this can be traced back to courses where students learn how to deploy smartcontracts on Tezos. Most important is the improvement of the quality of the current development on Tezos, which ends up increasing transaction numbers and gas usage which is payed in Tezos' native token XTZ. This growth, in combination with an increased staking ratio (80.11% in mid May), will influence scarcity and value of XTZ.

Another interesting piece of data of the last few weeks is the launch of tzBTC (BTC stablecoin on Tezos), and the growth in issuance of tokenized BTC on Tezos:

"tzBTC, a wrapped Bitcoin on Tezos with currently 358 Bitcoin issued."

(Don't confuse Ethereums tBTC with Tezos' tzBTC. Ethereums tBTC lasted two days before it was taken down due to flaws found in its design.

Tezos news from last month:

For a full introduction on Tezos, read this main article: An introduction to Tezos. (This article has 11,970 views at this time of writing.) 

Allen Walters
Allen Walters

Fascinated by blockchain and future proofing cryptocurrency. Discover the tech before it gets relevant. Twitter: @IgnoranceIt

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