Mango Markets is a decentralised platform built on the Solana blockchain that offers a single place to lend, borrow, trade and leverage cryptoassets.
Even in the down market, Mango has continued adding new users with almost 2700 new users added in 2022 with a sustained peak of 100 new users arriving daily in mid-February.
New users tend to try out the platform with small amounts first. Therefore, most of the new users above made a deposit of less than 1 SOL. There were also few braveheart users who deposited more than 1000 SOL!
Looking at the borrowed amount for LUNA, we see an almost 3x increase in since March 9th, 2022. This could be shorts setting up for a downturn in LUNA price from its recent-highs.
