The Neo blockchain launched on October 16th, 2016; since then, nearly five million blocks have been produced, and 27.9 million transactions minted. In a recently released article, blockchain researcher and analyst, Christian Ott, compiled and analyzed transaction growth, wallet growth, and asset holding data from within the Neo ecosystem.

Data and metrics for the analyses were collected via NewEconoLabs (NEL) blockchain explorer, Neodepot, and Neo Economy. The author used data points at six-month intervals for the transaction and address analysis, and NEP-5 addresses with a minimum balance of over US $100 per asset. Ott also categorized an address as new when it had successfully received funds.

Transactions and addresses

In line with the broader cryptocurrency market trend since its late-2016 launch, Neo witnessed an exponential increase in transactions and new addresses through the first half of 2018. Since, there has been a downward trend in both categories.

However, transactions on the network showed a recovery from a one-year low of 3.73 million transactions in the first half of 2019 to 4.75 million transactions in the second half of 2019. A statistical trend in line with gaming activity in the Neo ecosystem that began in Q3/Q4 of 2019 from projects such as Blockchain Cuties, Cardmaker, NeoLand, and more.

Of all the transactions on the Neo blockchain, Ott concluded that approximately 8% can be traced to cryptocurrency exchange activity on Switcheo, Binance, KuCoin, and Bittrex.

New addresses per year have declined since their all-time high of roughly 807,000 new addresses made in the first half of 2018, to 87,400 in the second half of 2019. The total amount to new addresses per year can be found below:

  • 2016: 5,179
  • 2017: 471,318 
  • 2018: 1,161,952 
  • 2019: 204,465

Though new addresses have trended downward since 2018, Ott pointed out “the number of new addresses created in the second half of 2019 is still six times higher than the number of new addresses created in the first half of 2017.”

Address holdings

Ott also examined addresses that held NEO, GAS, and various NEP-5 token assets. There were slightly more than 180,000 addresses that hold a minimum of one NEO. After those holding a minimum of 10 NEO, the number of addresses holding larger amounts decreases significantly at each factor of ten NEO held. Addresses holding NEO by factors of ten can be seen below:

  • Addresses with 100 NEO: 29,273
  • Addresses with 1,000 NEO: 4,031
  • Addresses with 10,000 NEO: 441

In the analysis, Ott identified 36 NEP-5 tokens that trade on various cryptocurrency exchanges, two of which are non-custodial exchanges in the Neo ecosystem, Nash Exchange and Switcheo Exchange.

The Nash Exchange token (NEX) is the most owned NEP-5 asset in the ecosystem at 8,132 addresses that hold a value of US $100 in NEX or more. Switcheo’s SWTH token is the third most held token, with more than 1,800 users holding an equivalent of US $100 or more.

The full report can be found at the link below: