How Unisat’s PIZZA airdrop skyrocketed its on-chain activity

• Unisat saw spikes in some key on-chain metrics.
• The platform has concluded its Pizza airdrop.

Analysis showed that Unisat, Bitcoin service provider known for its Ordinals marketplace, experienced a spike in several on-chain metrics, including volume, transactions, and users lately.

This surge was attributed to the recently concluded PIZZA airdrop, which significantly increased activity on the platform.

Unisat sets volume record

An analysis of marketplaces on the Bitcoin network showed that Unisat has recently experienced a spike in some key metrics.

A study of the volume on Dune Analytics revealed that it has been growing steadily over the past few days, with a significant increase on 9th June. 

The chart showed that the platform recorded over $4.5 million in volume that day, marking its all-time high (ATH).

Furthermore, this was the highest daily volume recorded on any platform on 9th June.

Source: Dune Analytics

Additionally, an analysis of the number of transactions showed consistent growth.

The chart indicated that the number of transactions surpassed 8,000 as of this writing, marking an all-time high (ATH). Similar to the volume, this number was also the highest recorded on any platform.

Further analysis revealed that with the spike in volume, Unisat controlled over 48% of the marketplace’s total volume. Additionally, its share of the transactions was over 50%.

Unisat records ATH in users

Despite the surge in volume and transactions, data showed that the cumulative unique users on Unisat were still behind other major platforms.

As of this writing, the number of unique users was around 125,000. While this is relatively low compared to other platforms, it represents an increase from previous weeks.

The change in the number of users became more evident in the daily user statistics.

Analysis of the data showed that the number of unique daily users spiked to a new high, surpassing 9,500. This was the highest number Unisat has ever seen.

It was also the highest among the other platforms. The closest competitor had around 6,000 daily users.

Pizza airdrop contributes to spike in metrics

The primary reason for the spike Unisat saw in these metrics was its Pizza airdrop.

A few months ago, the platform announced the airdrop of its token, PIZZA. According to its post on 9th June, all the PIZZA tokens have been airdropped to addresses that claimed them.