Method

In this dashboard I tried to answer the above questions by sung of solana.core.fact_transfers table by following contract addresses:

when mint = 'EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v' then 'USDC' 
when mint = 'Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB' then 'USDT' 
when mint = '9vMJfxuKxXBoEa7rM12mYLMwTacLMLDJqHozw96WQL8i' then 'UST' 
when mint = 'H5kMHghGUKo4MnGEp4mpAMxveDwnRZ4hXeZMWfp5EzGF' then 'UXD' 
when mint = 'USDH1SM1ojwWUga67PGrgFWUHibbjqMvuMaDkRJTgkX' then 'USDH' 
when mint = 'Ea5SjE2Y6yvCeW5dYTn7PYMuW5ikXkvbGdcmSnXeaLjS' then 'PAI' 
when mint = 'AJ6EVZEePA5HAn58ZRbLCWX3MsK2BKrkT6bJYunuTU71' then 'NIRV' 
when mint = 'EjmyN6qEC1Tf1JxiG1ae7UTJhUxSwk1TCWNWqxWV4J6oc' then 'FRAX' 
when mint = 'EjmyN6qEC1Tf1JxiG1ae7UTJhUxSwk1TCWNWqxWV4J6o' then 'DAI'

I used this addresses to calculate the inflow and outflow volume when this token goes into and out of platforms, respectively.

Total transactions and unique users count were calculated, too.

The assessed metrics calculated since November, 2022, the FTX’s demise month.

Analysis

✅ In the following visuals the transactions count, transactions volume and shares of those are shown.

✍🏻 Conclusion

As of Findings above:

• Nearly 79% of transferred stabelcoins transaction count and about 85% of transferred volume are belongs to USDC, that is too significant.

• More than 68% of the total number of stabelcoin transactions and around 90% of the total volume of stabelcoin transactions belong to USDC, which is extremely significant.

• When the count of transactions passed 5000, the volume fell to below $150M from $450M, also from 1500 transactions to 3500 the size of bubble that indicate the volume of transactions are less than $200M.

• For number of transactions less than 1000 we can see that the volume went up to about $640M & $1.07B for USDC and USDT, respectively**.**

• The most volume of USDC transferred by Whales, during the month of FTX’s demise.

• Roughly 90% of swap transactions took placed to swaps TO USDC, 9.62% to USDT and rest to others.

• More than 67% of swaps FROM stablecoins executed to swaps from USDC to other assets.

• In Nov 10th, three days after FTX’s fallout, more than $20.5M swapped to USDC and $26.4M to USDT.

• Most of unique swappers are tend to swap their assets To/From USDC.

• Over $636.57M swapped to USDC and $657.2M swaps from USDC.

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About:

• Author: HaM☰d

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• Discord: 0xHaM☰d#8391

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• Twitter: @arjmandi_hamed

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• Email: h_arjmandi2012@yahoo.com

Solana Swaps vs Transfers

What we are looking at?

> * Track of USDC & other stablecoins declining on Solana affected by FTX’s demise. > * Where is USDC being removed from the ecosystem and where is it being sent to? > * Does this trend seem to be driven by a few big whales, or does it seem more broad-based throughout the ecosystem? > * Are other stablecoins also dropping in market cap on Solana?

Hey there 👋!

Firstly, I appreciate you sticking with it until the conclusion.

I'm Hamed, a civil engineering Ph.D.

student interested in data analysis.

I've made many similar dashboards and visualizations since I started at Flipside in January.

Please take a look at my various contact details and let me know what you think.

🔭 Findings:

The FTX demised on Nov 7th, and volatility on transferring stablecoins on these days are clearly visible.

As of above chart, can be seen that the transferred USDC volume rather than other stablecoins on Solana increased, and peaked three times at $18.4B, $24.3B and $20.6B in Nov 7, 8 & 10th, respectively.

Transactions count of transferred USDC to centralized exchange(CEXs) peaked at over 30K in Nov 10th, that was more than three times over other days and after this day drop to below 5K in Nov 20th. But it spiked in Dec 1th to over 20K.

Nearly 79% of transferred stabelcoins transaction count and about 85% of transferred volume are belongs to USDC, that is too significant.

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✅ In the following visuals the destinations of transferred USDC and other stablecoins are shown

• As of following charts can be observed that most amount of transferred volume (74.3%) are belongs to USDC and other to USDT (25.7%), and also closely to100% of volume transferred to CEXs.

🔭 Findings:

The bubble chart in the right shows the volume of transactions in terms of bubble size of transactions volume.

As can be seen when the count of transactions passed 5000, the volume fell to below $150M from $450M, also from 1500 transactions to 3500 the size of bubble that indicate the volume of transactions are less than $200M.

For number of transactions less than 1000 we can see that the volume went up to about $640M & $1.07B for USDC and USDT, respectively**.**

So based on this chart can be resulted that the most volume of USDC transferred by Whales, during the month of FTX’s demise.

✅ In the following visuals tried to depict the swaps metrics

• In this section, the swap transactions by swaps TO and FROM stablecoins have been tracked.
• As of this graph can be seen that roughly 90% of swap transactions took placed to swaps TO USDC, 9.62% to USDT and rest to others.
• Also more than 67% of swaps FROM stablecoins executed to swaps from USDC to other assets.

🔭 Findings:

More than 5.62M times transacted swap to USDC against to 5.64 transactions from USDC, in cumulative growth.

The count of transactions was in a increasing trend since November till Nov 23th, that peaked at close to 500K, and then collapsed to below 100K in Dec 7th.

In Nov 10th, three days after FTX’s fallout, more than $20.5M swapped to USDC and $26.4M to USDT.

Most of unique swappers are tend to swap their assets To/From USDC.

Over $636.57M swapped to USDC and $657.2M swaps from USDC.