Unique Active Wallets Using Paraswap

In this article, we mainly aim to show the number of unique users (wallets) that have transacted with ParaSwap over the past two months.

Users can easily swap one cryptocurrency for another without leaving their Blockchain.com Wallet by using Blockchain.com’s Swap feature in wallet.For example, simply by changing your DAI to aDAI, you’re lending money to borrowers in the protocol and earning a continuous stream of interest. ParaSwap plays a key role in facilitating and enhancing such swaps.

What is a Paraswap?

The ParaSwap decentralized application (dApp) combines multiple decentralized exchanges into a single platform,ParaSwap offers a fast, easy and secure way to exchange Ethereum-native tokens. ParaSwap constantly checks the rates across all supported decentralized exchanges in order to ensure the best possible exchange rate.

Therefore, when you check the price on ParaSwap for ETH/ERC20 tokens, ParaSwap scours all the exchanges available to find the best rate for this pair.No account is necessary to get started on ParaSwap, all you need is a MetaMask wallet to get started.

Here we are discussing how many unique users (wallets) have transacted with ParaSwap in the past two months.

Number of Paraswap Unique Wallets – Past 2 Months

As can be seen from the below graph, the number of wallets which are used by Paraswap via Polygon is greater than that of Ethereum blockchain.On Polygon, the number of unique users that have transacted with ParaSwap account for almost more than 90% of the total number of users.This could be because ethereum’s gas fees are very high compared with polygon’s. Many unique Polygon users were selected in order to reduce the Gas fees.

The maximum number of polygons used was 57.06K on October 22, 2021.Users of polygons in October 25, 2021 and October 3, 2021 are lower than normal, and users are higher than normal in November 13, 2021 and October 5, 2021. Between Aug 2021 and Nov 2021, both Ethereum and Polygon users have increased. Since Dec 2021, however, there has been a declining trend in growth of new users. We can see from the table that the number of users increased again in April 2022. 

The most Ethereum users were recorded on April 12, 2022 with 8.32K. In May 1st 2022, we can see the number of users of both Ethereum ad Polygon are lower than normal.Based on the data of the last two months, we can see that the trends of users are increasing.

In the above analysis, it is apparent that the number of users on Ethereum and Paraswap has been increasing for the last two months.

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