Objective for this analysis

During the month of March 2022, we created a graph to compare the popularity of stabecoins (USDC, USDT, and STBL) swaps on the Algorand ecosystem (both in terms of the number of swaps and the volume of swaps for swaps to and from stablecoins).

Analysis

This section compares the popularity of stabecoins (USDC, USDT, and STBL) throughout the Algorand ecosystem in March 2022. (both in terms of count and amount - swaps from and swaps to).

Takeaways:

• As seen by the figures above, STBL is the most dominating stablecoin on the Algorand network in terms of volume swaps, while USDC is the second most popular stablecoin for the time period considered.

• Surprisingly, we determined that USDC is the most popular stablecoin in the Algorand ecosystem when the amount of swaps throughout the time period analyzed is considered.

• We discovered that on March 15th 2022, the number of swaps and the amount of swaps for three stablecoins are more likely to be large due to Prismatic grant funds to assist the Algorand network as shown in the figure below.