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What agents buy from other agents, settled on chain.Note 23
Registration is growing and earning is not moving at all.
Every comparable site publishes stocks — how many agents exist, how much is locked. A stock is one read of the present. This needs both ends of a transaction joined and kept: a registry publishes registrations, a venue publishes its own users, and this page is the join of the two for the rails it reads.
| Week beginning | Registered | First transacted | First paid |
|---|---|---|---|
| 2026-01-26 | 4,498 | 0 | 0 |
| 2026-02-02 | 3,760 | 0 | 0 |
| 2026-02-09 | 2,303 | 0 | 0 |
| 2026-02-16 | 1,219 | 0 | 0 |
| 2026-02-23 | 3,227 | 0 | 0 |
| 2026-03-02 | 2,446 | 0 | 0 |
| 2026-03-09 | 733 | 0 | 0 |
| 2026-03-16 | 720 | 1,198 | 171 |
| 2026-03-23 | 245 | 840 | 215 |
| 2026-03-30 | 243 | 645 | 95 |
| 2026-04-06 | 270 | 356 | 54 |
| 2026-04-13 | 134 | 535 | 9 |
| 2026-04-20 | 140 | 177 | 6 |
| 2026-04-27 | 334 | 172 | 3 |
| 2026-05-04 | 442 | 171 | 4 |
| 2026-05-11 | 132 | 82 | 0 |
| 2026-05-18 | 311 | 137 | 0 |
| 2026-05-25 | 253 | 46 | 2 |
| 2026-06-01 | 296 | 15 | 0 |
| 2026-06-08 | 200 | 38 | 0 |
| 2026-06-15 | 119 | 17 | 0 |
| 2026-06-22 | 162 | 16 | 0 |
| 2026-06-29 | 199 | 10 | 0 |
| 2026-07-06 | 107 | 7 | 0 |
| 2026-07-13 | 95 | 10 | 0 |
| 2026-07-20 | 110 | 6 | 0 |
| 2026-07-27 | 122 | 2 | 0 |
| 2026-08-03 | 12,277 | 18 | 0 |
| 2026-08-10 | 9,207 | 86 | 0 |
| 2026-08-17 | 235,513 | 84 | 0 |
| 2026-08-24 | 101 | 3 | 0 |
Each agent counts once, in the week it first did the thing — arrivals, not activity. Counting activity would let one busy agent look like a crowd, which is what every “active addresses” chart does. Weekly rather than monthly because the series begins when the readers did; a month of data makes one monthly bar, and a cohort chart with one column has learned nothing.
Each row is the agents that registered in one week. Reading across shows how many of them were still transacting in each later week, as a share of that starting group — so the diagonal is always 100% (the week they arrived) and everything to its right is what remained.
A dash is not zero. It means that week falls outside what we have read for that cohort — either before it existed or after our window ends — and the difference matters, because a cohort that died and a cohort we stopped watching look identical in a grid that prints 0% for both.
Read the small cohorts with care. A row of seven agents moves ten points when one of them acts, so a late figure jumping above the rows around it is arithmetic on a small denominator rather than a revival — the size column is there to tell you which rows can carry weight.
| Cohort | Size | 03-16 | 03-23 | 03-30 | 04-06 | 04-13 | 04-20 | 04-27 | 05-04 | 05-11 | 05-18 | 05-25 | 06-01 | 06-08 | 06-15 | 06-22 | 06-29 | 07-06 | 07-13 | 07-20 | 07-27 | 08-03 | 08-10 | 08-17 | 08-24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-03-16 | 1198 | 100% | 29% | 22% | 33% | 28% | 6% | 5% | 4% | 4% | 4% | 3% | 4% | 2% | 3% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 1% |
| 2026-03-23 | 840 | — | 100% | 39% | 25% | 16% | 9% | 6% | 6% | 4% | 4% | 2% | 2% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 0% | 1% | 0% |
| 2026-03-30 | 645 | — | — | 100% | 25% | 13% | 6% | 5% | 3% | 4% | 2% | 2% | 1% | 1% | 0% | 1% | 0% | 0% | 0% | 0% | 0% | — | 0% | — | — |
| 2026-04-06 | 356 | — | — | — | 100% | 22% | 5% | 10% | 3% | 2% | 2% | — | 1% | — | 1% | — | — | — | — | — | — | 1% | — | 0% | — |
| 2026-04-13 | 535 | — | — | — | — | 100% | 37% | 7% | 8% | 2% | 3% | 1% | 1% | 0% | 1% | — | 0% | 0% | — | — | — | — | — | — | — |
| 2026-04-20 | 177 | — | — | — | — | — | 100% | 18% | 4% | 3% | 1% | 2% | 1% | — | — | — | — | — | — | — | — | — | — | — | — |
| 2026-04-27 | 172 | — | — | — | — | — | — | 100% | 10% | 2% | 5% | 1% | 1% | — | — | — | — | — | — | — | 1% | — | — | — | — |
| 2026-05-04 | 171 | — | — | — | — | — | — | — | 100% | 20% | 11% | 4% | 4% | 1% | — | 1% | 1% | — | — | — | — | — | — | — | — |
| 2026-05-11 | 82 | — | — | — | — | — | — | — | — | 100% | 4% | 1% | 1% | 1% | — | — | — | — | 1% | — | — | — | — | — | — |
| 2026-05-18 | 137 | — | — | — | — | — | — | — | — | — | 100% | 2% | 2% | 1% | 1% | — | — | — | — | — | — | — | 58% | 58% | — |
| 2026-05-25 | 46 | — | — | — | — | — | — | — | — | — | — | 100% | 2% | 4% | — | — | — | — | — | — | — | — | — | — | — |
| 2026-06-01 | 15 | — | — | — | — | — | — | — | — | — | — | — | 100% | 40% | 13% | — | — | — | — | — | — | — | — | — | — |
| 2026-06-08 | 38 | — | — | — | — | — | — | — | — | — | — | — | — | 100% | 3% | 3% | — | — | — | — | — | — | — | — | — |
| 2026-06-15 | 17 | — | — | — | — | — | — | — | — | — | — | — | — | — | 100% | — | — | — | — | — | — | — | — | — | — |
| 2026-06-22 | 16 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 100% | 6% | 6% | 6% | — | — | — | — | — | — |
| 2026-06-29 | 10 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 100% | — | — | — | — | — | — | 10% | — |
| 2026-07-06 | 7 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 100% | — | — | 14% | 14% | — | — | — |
| 2026-07-13 | 10 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 100% | — | — | — | — | — | — |
| 2026-07-20 | 6 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 100% | — | — | — | — | — |
| 2026-07-27 | 2 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 100% | — | — | 50% | — |
| 2026-08-03 | 18 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 100% | — | — | — |
| 2026-08-10 | 86 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 100% | 92% | — |
| 2026-08-17 | 84 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 100% | — |
| 2026-08-24 | 3 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 100% |
Of the agents that first transacted in each week, the share still transacting later. Mortality is the first question anyone asks about a cohort and the last thing a venue volunteers. Read it against the table above: the loss is at the step from registering to starting, not from starting to stopping.
| Week beginning | Registrations | Distinct holders | Identities per holder |
|---|---|---|---|
| 2026-01-26 | 22,765 | 4,498 | 5.1 |
| 2026-02-02 | 38,079 | 8,258 | 4.6 |
| 2026-02-09 | 42,900 | 10,561 | 4.1 |
| 2026-02-16 | 45,385 | 11,780 | 3.9 |
| 2026-02-23 | 50,948 | 15,007 | 3.4 |
| 2026-03-02 | 55,933 | 17,453 | 3.2 |
| 2026-03-09 | 61,071 | 18,186 | 3.4 |
| 2026-03-16 | 64,959 | 18,906 | 3.4 |
| 2026-03-23 | 69,640 | 19,151 | 3.6 |
| 2026-03-30 | 70,721 | 19,394 | 3.6 |
| 2026-04-06 | 76,482 | 19,664 | 3.9 |
| 2026-04-13 | 77,174 | 19,798 | 3.9 |
| 2026-04-20 | 77,840 | 19,938 | 3.9 |
| 2026-04-27 | 78,676 | 20,272 | 3.9 |
| 2026-05-04 | 79,618 | 20,714 | 3.8 |
| 2026-05-11 | 84,291 | 20,846 | 4.0 |
| 2026-05-18 | 87,305 | 21,157 | 4.1 |
| 2026-05-25 | 88,128 | 21,410 | 4.1 |
| 2026-06-01 | 89,122 | 21,706 | 4.1 |
| 2026-06-08 | 90,202 | 21,906 | 4.1 |
| 2026-06-15 | 91,239 | 22,025 | 4.1 |
| 2026-06-22 | 93,285 | 22,187 | 4.2 |
| 2026-06-29 | 94,580 | 22,386 | 4.2 |
| 2026-07-06 | 95,502 | 22,493 | 4.2 |
| 2026-07-13 | 96,061 | 22,588 | 4.3 |
| 2026-07-20 | 96,831 | 22,698 | 4.3 |
| 2026-07-27 | 107,468 | 22,820 | 4.7 |
| 2026-08-03 | 121,465 | 35,097 | 3.5 |
| 2026-08-10 | 131,838 | 44,304 | 3.0 |
| 2026-08-17 | 415,253 | 279,817 | 1.5 |
| 2026-08-24 | 415,726 | 279,918 | 1.5 |
Cumulative to the end of each week. One identity per holder is a crowd; eight is a workshop. A single reading says one address holds most of this registry — the series says whether that is the shape of the thing or a moment in it.