Hive is having some interesting price action in the last period. A sharp increase in the price, then a drop and an increase again. How has this effected the activity on the chain?
Let’s take a look at the number of active accounts.
Top Four Hive Operations
We will be looking at the activity on the chain by the top operations made:
- Post and comment
- Vote/Curate
- Transfer coins
- Make Custom JSON transactions
Apart from the above, reading, or page views, is also a crucial part of this ecosystem, but this type of operation is not stored on the blockchain. There is some general traffic websites that can be used for this, like https://hypestat.com/.
We will be looking at the number of active accounts by the operations stated above for the period from April 2020 to February 2021. Hive was created at the end of March, so this period will cover the activities in its exitance.
We will be looking at the number of DAU (daily active users) and the number of MAU (monthly active users).
Number of Accounts that Posts or Comment
First let’s take a look at the number of accounts that are posting on the blockchain, as one of the core operations.
The above is the chart for DAU, for accounts making posts or comments on the blockchain.
We can see that after the hardfork the number if accounts posing daily is somewhere around 2800, than its went up (hint the price also did at that time), to almost 4k. Afterwards we can see a slow decline in the number of accounts posting and it the last period it dropped bellow 3k.
In the last period we can see the numbers growing again, more steady this time and we are again above 3k.
Later we see the MAU stats for the accounts that are posting and commenting.
Number of Account that Vote/Curate
How about then number of accounts that vote. What is their number? After all the voting feature on the blockchain is at its core. Rewards are distributed via votes.
Here is the chart.
The number of unique daily accounts that vote is higher than the number of accounts that post or comment. Since the creation of the blockchain its almost constant between 10 and 12k per day. A small drop back in October, when there was a HF, and a steady increase in the last period.
Not sure what these up and down pattern is 😊.
Number of Accounts That are Making Transfers
What about the basic crypto activity? Transferring value. How many users are making daily transactions? Here is the chart.
The number of accounts making transfers started with around 600, then it spiked, along with the price spike at the time. Afterwards it has been around 1000 accounts per day.
Here as well we can notice an increase in the numbers in the last period with around 1200 accounts making transfers per day.
Number of Accounts That are Making Custom JSON Operations
The custom JSON activity has been on a rise on the blockchain, mainly because of the games using this functionality.
This is an interesting chart. We can see that the blockchain started with around 3k accounts making these transactions per day. Then a sharp increase to a 10k This is mainly because of the Splinterlands transition from Steem to Hive in June 2020.
Steady growth here as well in all the period.
Number of monthly active accounts [MAU]
What about monthly active accounts? Not everyone is making daily activities. Monthly active accounts can be a more accurate representation. Here is the chart.
These numbers are compiled from the top 4 activities described above.
As we can see the number of Hive MAU started with around 24k, then it went up to 35k in June 2020. Afterwards a small decline to around 32k.
February is seeing a growth in the numbers of MAU from 32k to 34k. Since it is shorter month, we can say that February has the highest number of active Hive accounts in its history.
I have separated the accounts that are posting, and we can see that the number of accounts posting per month is around 10k, or around a third of the total number of active accounts, 34k.
Monthly Active Accounts By Type Of Operation
If we make a breakdown of the active accounts by type of operation for February 2021 we get this.
The custom json operation has the highest number of accounts with around 22k accounts making that type of operation in February 2021.
Votes comes second with 16.5k accounts and then is posting with almost 10k accounts per month. The number of accounts making transfers is almost the as posting.
Readers
Since the main dApp build on the Hive blockchain is a blogging platform the obvious question is how many readers it has. The numbers presented above are about authors, curators, gamers, etc… users that actually interact with the blockchain with some action.
The number of readers is not stored on the blockchain. The interesting thing is that there is more than one frontend to the blockchain, no there is no one single point of entrance to count.
According to https://hypestat.com/ the numbers for unique daily visitors at the moment are:
- hive.blog 138k
- Peakd.com 123k
- Finance has 89k
The other interfaces and tribes have some more. Some of them may overlap but I would give a rough estimate of more than 250k daily overall daily visitors. Have in mind this is very rough estimate.
Nice to see some growth in the numbers of active accounts. The growth seems to be more steadier this time than back in May/June last year when Hive pumped to 1$. A lot of development is happening on the chain now, especially on the 2nd layer apps. WIll be interesting to follow how things evolve in 2021 :).
