Update on IOTAs network growth

This is a tiny analysis of the past 3 tangle snapshots from:

  • 9th June
  • 8th August and
  • 22 September

I have used the official snapshots published on the IOTA’s forum for community validation. Below are some interesting findings:

The network growth is exponential

The total amount of addresses with positive balance grew from 4080 in June to 22245 in August and 51886 in September. For the past 3 months this value more than doubled on monthly basis.

This is not a direct proof that the amount of IOTA holders have grown exponentially, since a seed can own more than one positive address, it is a good indicator of the tangle’s growth and usage. If the growth continues at the same pace, we will have about half a million positive addresses before 2018.

It is worth noting, that the current market price does not reflect this growth. The IOTA is still very much undervalued.

Higher and better distribution

The average address balance has decreased from 681.257 in June to 124.950 in August and 53.569 in September. Since the supply of IOTAs is static, this is a logical consequence given the increased amount of addresses.

I pulled the percentage of addresses that have more than “x IOTAs” and here is what came out:

Almost 60% of addresses in June had less than 1 mIOTA balance. Now it is less than 10%. It seems that most of the new addresses have a balance between 1 and 1000 mIOTAs. Here are the monthly pie charts of addresses by balance range:

Huge addresses of over 10 gIOTAs balance as well as tiny addresses with less than 1 mIOTA have steadily decreased. The amount of addresses with balances between 1 mIOTA and 1 gIOTA has increased from 2.8% in June to a whopping 65.4%. Almost one third of all addresses. The September pie chart shows a fairly even distribution of accounts per balance range.

Top addresses are piling up

While the amount of “whale” (big) addresses is declining, it is worth noting that the biggest addresses are controlling higher amount of IOTAs in circulation than the previous months. Below are the percentages of IOTAs controlled by top addresses by month:

I took a look at the top 10 addresses. While the addresses have changed during the last migrations, you can still track them by the amount of IOTAs they hold. Below is a table of top 10 address balances. I marked similar balances in the same color:

What’s interesting for me are the “new” top addresses in September that I have marked bold. Either it’s an owner of various smaller addresses that “merged” the balance into one address or these are new owners. Maybe new exchanges prepare for their trading fund? Or maybe big fishes are piling up, while the market is in turmoil? 🤔 I leave it open for speculation. Fact is, the top 100 addresses control 67.93% of IOTA supply now, up from 63.2% in August and 61.28% in June.

Thanks for reading. Here’s a carrot: 🥕

Roman Semko 
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