The report "On-Chain User Segmentation for Crypto Exchanges" released by Chainalysis mainly explores the behavioral patterns and values ​​of cryptocurrency exchange users. It also provides a user classification model based on on-chain data and shows how these classifications can be transformed into insights that can drive user acquisition and retention strategies of exchanges.

https://blog.chainalysis.com/reports/crypto-exchanges-on-chain-user-segmentation-guide/

If you are interested in this topic, you can really read it. Here are some excerpts that I find quite interesting:

1️⃣ Early-stage retail wallets have a much higher churn rate than other types, at 15.7% per week, while late-stage institutional wallets, which are extremely important to exchanges, have the second-highest churn rate at 3.8%. Late professional and late retail wallets have the lowest churn rates, at 0.6% and 0.4% respectively.

2️⃣ Late wallet users are much more loyal to FTX than early wallet users, this may be because FTX attracts many new cryptocurrency users who are reluctant to leave and learn a new platform, while more experienced users are more willing to switch platform.

3️⃣ User churn is almost as important in assessing a user’s value to an exchange as their inflows. By combining the two, we can calculate the exchange’s expected total inflows for each user over their lifetime.

4️⃣ Considering churn rates can significantly change how an exchange might value different types of users. For example, although early retail wallets initially appear to be slightly more valuable to FTX than early professional wallets, because early professional wallets have significantly lower churn rates, the average amount of cryptocurrency they send to FTX over their lifetime is almost as much as early retail wallets. 5 times the wallet.

This report provides a more in-depth perspective. By categorizing and analyzing users, their value to the exchange can be better understood and, as a result, more effective user acquisition and retention strategies can be developed.

It can be seen that the dynamics of the cryptocurrency market are very complex and are affected by many factors, including user behavior patterns, market environment and technological changes, so why are so many people still willing to be researchers to explore this industry and market? .