There has been a push for HBD adoption around the globe. Merchants accepting HBD as payment. This especially in places like Venezuela and Cuba. There is now an app [Distriator](https://distriator.com/) that enables users to spend HBD, post about it and earn rewards, basically making a cash back on their purchase.
How is this affecting on chain activity. We can take a look at the number of transactions and accounts making transfer. If HBD adoption is increasing this should increase as well. 



Let’s take a look.



 
![01.png](https://files.peakd.com/file/peakd-hive/dalz/23tvAVYarWzjj4rJkTUfip9bzUD6tHKX9znR4Pd3KA72MKJxHRhP33tC9kE7T91YBehSg.png)




Here we will be looking at:

-	Daily/monthly transactions
-	Daily/monthly number of accounts transfering HBD
-	Daily/monthly HBD value transfered
-	Top accounts by number of transactions and value 

The period that we will be looking in is starting from the Hive fork back in March 2020 till now.


## Number of HBD Transactions 

Here is the chart for the data on HBD transactions made per **day**.


 


![image001.png](https://files.peakd.com/file/peakd-hive/dalz/Ep1VRuNdPB3ArkkNzjHjeYf93bDU2dWWQkeVSJJKQzEh4k7hhG1zosU5Tj4k6TCG7ix.png)





As we can see back in April 2020, this number was low, under 1k HBD daily transactions. It increased since then going up to 3k daily transactions, with occasional spikes up to 10k. 

In the last period the number of transactions has been quite steady in the range of **1.k to 2k** daily HBD transactions. 

When we plot the data on a **monthly**  level we have this:


![image007.png](https://files.peakd.com/file/peakd-hive/dalz/23uQfYKb2F6ccDABYPxVbDeHBVNN4PMB1P2GbksbwHMv9tZCwLdWC88km6n1VpumcSatT.png)




Here we can see an even clearer trend. An uptrend up to 2022, then a period of stagnation. 
Overall, no significant uptake in the number of HBD transactions yet!

In the last months there is around **40k** HBD transactions per month, with a spike in January 2024 to almost 60k. 



## Number of Accounts Transferring HBD
How many users are transferring HBD per day? Here is the chart.




![image003.png](https://files.peakd.com/file/peakd-hive/dalz/23uFH1n1NB3nZz3C4EFapVZQGUzRm5pHZVYPHB8N1D9TxPV2o6WXRCXtsqaoGrdcVdew1.png)

 


The trend here is similar as for the transactions. At the beginning there is just around 200 DAUs, then the number increased to almost 1k in 2022, and a sort of stagnation since then. We can notice a small downtrend in the last months, at the very end of the chart. 

In the last period there are around **600** accounts making HBD transactions per day.


**On a monthly level the chart looks like this:**


 


![image009.png](https://files.peakd.com/file/peakd-hive/dalz/23vsBsSbpzGg4EGABmcqqwCVDXFCEFVAbbsaJeG9rJrG8hawAdaiNSxYS1AG6MxcBqUtX.png)

An uptrend towards 2022 and a small downtrend since then. 
In the last months the number of HBD MAUs has been just above **10k** users per month.


## Transferred HBD Value 

What about the amount/value in HBD that has been transferred? Here is the chart for the **daily** amount of HBD transferred.




![image005.png](https://files.peakd.com/file/peakd-hive/dalz/23u5XT5b8oUdYU3cmAahXgvZrtZDanci3qSVJrQcqa3YPQ5L5oid7G2yYEf3DSPXz824h.png)


 


We can clearly see the spike back in August and September of 2021. There was an increase in the HBD value back then and a lot of arbitrages was happening. A few spikes since then to more than a million HBD daily transferred but overall the values are around **100k** HBD transferred per day. This is the number for the average daily HBD transferred in the last months as well.

**The chart for the monthly HBD transferred looks like this:**


 

![image011.png](https://files.peakd.com/file/peakd-hive/dalz/23tRzfT4JxGnB1erHY48GLykpB1GVHSMp9DKJCMUfiDZzBnyCdnjTwHDK5AyaDehDwfVS.png)



Here again we can see the spikes in August and September 2021. More than 20M HBD was transferred around in August alone and September has been close to 18M. 

In the last period there is around **2M** HBD volume per month. 


## Top Accounts

Who is making the most HBD transactions? Here is the chart for the last 30 days.



 

![image013.png](https://files.peakd.com/file/peakd-hive/dalz/23u5XT5J1cZ2Mjc79pz3N6qNZeAxRJdeTPo48gctTSwjx5g96oKniTEz41hF9pESiAfy3.png)


The @reward.app has been making a lot of HBD transactions, almost 8k per month. @actifit.pay is in the second spot, followed by @ocdb. Because of the feeless system on Hive, users can make thousands of transactions in HBD without worrying for gas fees.

The above is in terms of the number of operations. What about in terms of value? Users can make a lot of small transactions with HBD, but some can make a fewer transactions but with bigger HBD amounts. 

**Here is the chart for the top accounts transferring the biggest volume in HBD in the last 30 days:**


 

![image015.png](https://files.peakd.com/file/peakd-hive/dalz/23uQJEW9nGUFouf2eVwAtViFVUUW7yT76KHsHYLBZPCQPYBLekvv9nnf5FZDK7QHePpFX.png)




@alpha is on the top here with 300k HBD moved. It’s a transactions for withdrawing out of savings. Next is @newiluminati and @newsflash. All the above are accounts with stake in HBD savings. The 

A few accounts that belong to the Upbit exchange are in the top as well. 



## Summary

The overall trend for HBD is a growth in the numbers of transactions and accounts towards 2022, and then a slow decline and stagnation un the last period. While we can notice that the numbers have been steady, we can still draw a positive conclusion having in mind how hard the bear market hit. Having a project that has retain activity and users is a success for such times. 

In 2024 on a monthly level around 10k to 12k accounts are using HBD, making 40k transactions and transferring around 2.5M HBD in value. 

All the best
@dalz