We are now deep into the bear market with almost two years of downtrend. How is the creation of new Hive accounts going?
Let’s take a look!
There are now close to 2.5M Hive accounts. Unlike the other blockchains like BTC or ETH, Hive has human readable account names. This comes at a cost as the chain needs to store these values forever. That’s why the Hive accounts are not free and unlimited to mint, as each of them is a type of NFT.
Hive accounts are not free. They are the costliest operation on the blockchain. Hive accounts can be minted from the current HP holders using RCs credits if they have enough HP/RCs. Otherwise, they can be minted with HIVE at a cost of 3 HIVE per account. This cost is set by the witnesses.
The option for creating accounts with RCs, or sometimes perceived as the free accounts require users to first claim account as an account token, that can be then used for creating accounts. Not all claimed accounts are created. Claimed accounts are not transferable yet.
Here we will be looking into the following:
- Number of accounts created per day
- Number of accounts created per month and year
- HIVE burned for creating accounts
- Total accounts created
- Claimed VS Created accounts
- Top accounts creators
- Top accounts claims
For context we will be looking at the period from the very beginning of the chain, March 2016 till today., with a focus on 2023.
Number Of Accounts Created
Here is the chart for the overall accounts created.
Here we can see the two spikes in the overall period of Hive existence. First in 2017, especially towards the end of 2017 and the beginning of 2018.
The second spike is in September 2021 where on occasions there were more than 20k accounts created in a day. This was because of the demand for accounts coming from Splinterlands at the time.
If we zoom in 2023 we get this:
A smaller number of daily accounts created in 2023, with almost a steady rate of around 100 per day, with occasional spikes. There is one spike toward the end of April 2023, when there was more than 500 accounts created daily for a week or two.
The monthly chart for new accounts looks like this:
A similar pater as for the daily chart, with a bit clearer representation.
We can see the spikes back in 2017 and 2018 and again in September-October 2021. The chart here is cut off at 100k max, but in September 2021 there was a record high of 276k accounts created in a month.
In the last months the average accounts created per month is around 4k.
On a yearly basis we have this:
The record high year in creating new accounts has been 2021 when there were 910k accounts created. In the last year, 2022, there were 100k accounts created. Back in the previous bull run, in 2018 there was a record high of 600k accounts on a yearly basis.
2023 is shaping up to be the year with the lowest number of accounts created with around 35k accounts up until August. Most likely it will end somewhere around 50k, if something doesn’t change drastically in the next few months.
Total Accounts Created
When we sum the above, we get this.
We can see here the increase in the numbers of accounts in 2017, when the accounts number reached more than 1M. Then a period with a gradual increase and then even steeper growth in 2021, and now again a slow down.
At the moment there are 2.47M Hive accounts.
HIVE Burned for Creating Accounts
As mentioned above there is a cost for the HIVE accounts, RCs, or 3 HIVE. Here is the chart for the HIVE burned for creating accounts.
This is an all-time chart, starting from 2016.
Cumulative there is 4.5M HIVE burned for creating accounts in the whole period.
We can notice the sharp growth back in September 2021, this again because of the demand for HIVE accounts for Splinterlands. Almost 2M HIVE was burned back then.
Since then, the line has been almost flat.
Claimed VS Created Accounts
Claimed accounts are like sort of a buffer of accounts. Accounts with high HP claim accounts that later can be used for accounts creation. Not all claimed accounts are created.
Here is the chart for claimed VS created accounts.
There as some oscillations in the number of claimed accounts per day, but overall, the number is around 2100 accounts claimed daily.
The number of accounts created can vary a lot, but as seen above we are far bellow the 2k daily accounts claimed now, and this number is around 100.
Around 3.7M accounts were claimed, while somewhere around 1.3M accounts tokens have been used. This means that users on Hive hold around 2.4M accounts creation tokens.
Top Accounts Creators
Here is who created most of the accounts in 2023.
@ocdb is on the top with almost 10k accounts created, followed by @leo.voter and @hive-recovery.
@steemmonsters, the formal absolute champion in creating accounts is in the fourth place in 2023.
Top Accounts Claims
At the end the chart for who has claimed most of the accounts in 2023.
This chart mostly follows the HP holdings that the accounts have.
@ocdb has is on the top with more than 60k accounts claimed, followed by the @appreciator account on the second spot. @blocktrades comes on the third spot.
All the best
@dalz
Interesting stuff. I've claimed a load of accounts, but struggle to find people to use them for. I need to do more of that.
The demand for new accounts is low these days.
We have to hope something will cause it to pick up. I think there were missed opportunities to get all those new Splinterlands players involved in the blogging/social side.
When we zoom out the grow is still positive, it will be interesting what will happen in four years from now 2027, 2028 considering that based on charts crypto gains % diminish on every cycle, how the trend is going to break at some point and what impact will that have on other projects, what I love from Hive is that I can use it on daily bases and more dapps are been develop every year that's is what will keep it growing plus everyone of us spreading the word during hard times like this bear market, I see a future in Hive, thx for the data as usual 🤘
Gaming attracts younger generation wishing to gain some reward plus enjoy whilst learning or having knowledge about crypto.
Content/Art/Design creators are very stable, few break through selling other creators on the product, many wary of crypto from what I have experienced.
20k accounts were created in one day. Which is nice to hear. At that time the price of Hive was also high. Hopefully we'll see more accounts like this created in the future.
I think that consistent and contributor membership is more important on HIVE.
I was wondering where the 3 hive that was charged for my @pornink account went. So it was burned?
I realized I couldn't create a free account anymore a few days ago when I needed to create the above account to compliment my porn content on #threads.
This post has made me understand where the 3 hive went which explains why I couldn't find the transaction on my wallet. Or is there any explanation for this part @dalz?
Its burned yes
As always useful and interesting information and data
!hiqvote
!DHEDGE
This post has been selected for upvote from our token accounts by @libertycrypto27! Based on your tags you received upvotes from the following account(s):
- @dhedge.bonus
- @dhedge.leo
- @dhedge.pob
@libertycrypto27 has 10 vote calls left today.
Hold 10 or more DHEDGE to unlock daily dividends and gain access to upvote rounds on your posts from @dhedge. Hold 100 or more DHEDGE to unlock thread votes. Calling in our curation accounts currently has a minimum holding requirement of 100 DHEDGE. The more DHEDGE you hold, the higher upvote you can call in. Buy DHEDGE on Tribaldex or earn some daily by joining one of our many delegation pools at app.dhedge.cc.
I think the hive still has a place to work. It is true that the demand for new accounts has decreased, but it has increased in months! I don't think it is very important if there are a few new accounts, but it is the community itself that is important. When the society is active and constantly improving, then you can see the increasing trend.🙏
There are no many people who are joining or creating hive account, may be it is due to bear market and low prices, but i am sure when the bull market starts, these numbers will grow, nice analysis @dalz
Thank you for this great analysis. Do you have info about the amount of daily active users? Or did I perhaps miss that article?
!ALIVE
!PGM
!DHEDGE
@dalz has already received an upvote for this post. You still have 2.0 vote calls available today.
BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!
The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]
5000 PGM IN STAKE = 2x rewards!
Discord
Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP
Get potential votes from @ pgm-curator by paying in PGM, here is a guide
I'm a bot, if you want a hand ask @ zottone444
@dalz! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @ tuisada. (5/10)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want, plus you can win Hive Power (2x 50 HP) and Alive Power (2x 500 AP) delegations (4 weeks), and Ecency Points (4x 50 EP), in our chat every day.
It takes time to build a successful blockchain ecosystem. The current slowdown in the number of new accounts being created is a setback, but it's not the end of the world. The Hive community needs to stay focused and continue to work hard to attract new users.