Questions

USDC(0xB97EF9Ef8734C71904D8002F8b6Bc66Dd9c48a6E- https://snowtrace.io/token/0xb97ef9ef8734c71904d8002f8b6bc66dd9c48a6e) swaps vs transfers and mints vs burns using the new fact_event_logs data and avalanche.core.fact_traces data.

Lets look at volume of USDC swaps vs transfer by hour since 7/1.

• What is the average amount of USDC transferred vs swapped?
• Show number of unique swapper addresses vs transfer addresses by day for USDC

Next lets look at mints and burns of pairs involving

• Lets look at the volume of USDC mints and burns by hour since 7/1
• How many unique wallets are minting and burning USDC by day
• What is the average mint vs burn for USDC by day
• Note anything else interesting about USDC transactions

Introduction

Methodology

FROM avalanche.core.fact_event_logs
FROM avalanche.core.fact_token_transfers
FROM avalanche.core.dim_labels

where block_timestamp >= '2022-07-01'
and event_name in ('Mint','Burn')
and contract_address = '0xb97ef9ef8734c71904d8002f8b6bc66dd9c48a6e'
and  tx_status = 'SUCCESS'

Twitter : hadi3_bgh

Discord : hadiseb#1688

Sources

What Is Avalanche (AVAX)?

Avalanche (AVAX) is a cryptocurrency and blockchain platform that rivals Ethereum. AVAX is the native token of the Avalanche blockchain, which—like Ethereum—uses smart contracts to support a variety of blockchain projects.

The Avalanche blockchain can provide near-instant transaction finality. AVAX is used to pay transaction processing fees, secure the Avalanche network, and act as a basic unit of account among blockchains in the Avalanche network.

Avalanche has amazing potential over the next few years as acceptance for cryptocurrency increases. Our market forecast indicates that by 2030, AVAX could reach a new all-time high of $130.10.

It's also one of the fastest smart contract platforms. Avalanche is run by Ava Labs, which was founded in 2018. Like Ethereum and Solana, it's a Layer 1 blockchain. However, low processing costs and swift transactions give Avalanche an edge against the slower and costlier Ethereum network.

What is USDC used for?

The cryptocurrency is backed by U.S. dollar-denominated assets held at regulated and audited U.S. financial institutions. USDC has a variety of uses in the crypto marketplace, but is commonly deployed in decentralized finance (DeFi) protocols and by traders.

USD Coin (USDC), as a cryptocurrency, is generally considered risky as an investment. While stablecoins like USDC have less price volatility than other cryptocurrencies, stablecoins may be subject to increased scrutiny by regulatory agencies like the U.S. Securities and Exchange Commission.

Total Swap

• The total number of swap was about 273K.
• The average of swap number was about 1690.
• The total number of swap increased noticeably on September 29th.
• The highest number of swap was 8332 on September 29th.
• In the second place, The highest number of swap was 4116 on September 25th.
• The lowest number of swap was 424 on December 4th.
• Note : I have ignored December 8th cause the data is not complete.

Total Swapper

• The total number of swapper was about 53.7K.
• The average of swapper number was about 915.
• The total number of swapper increased significantly on September 29th and November 18th.
• The highest number of swapper was 4988 on September 29th.
• In the second place, The highest number of swapper was 3493 on August 4th.
• The lowest number of swapper was 186 on December 4th.
• Note : I have ignored December 8th cause the data is not complete.

Total Transfer

• The total number of transfer was nearly about 1M.
• The average of transfer number was about 6200.
• The highest number of transfer was about 12K on November 9th.
• In the second place, The highest number of transfer was about 11.8K on September 29th.
• The lowest number of transfer was about 3.2K on December 15th.
• Note : I have ignored December 8th cause the data is not complete.

Total Transferer

• The total number of transferer was nearly about 126.8K.
• The average of transferer number was about 2620.
• The highest number of transferer was about 6.8K on November 27th.
• In the second place, The highest number of transferer was about 6.2K on September 29th.
• The lowest number of transferer was about 1.3K on October 15th.
• Note : I have ignored December 8th cause the data is not complete.

Minting and Burning Based On Total Volume

• The total burnt volume was about 1.7B and consisted of 59.7%.
• The total minted volume was about 1.2B and consisted of 40.3%.
• The total average of burnt volume was about 424K.
• The total average of minted volume was about 0.8M.
• The most burnt volume was about 107.8M on July 28th.
• The most burnt volume was about 107.8M on December 5th.

Minting and Burning Based On Total Transaction

• The total number of burnt transaction was about 4190 and consisted of 74.3%.
• The total number of minted transaction was about 1452 and consisted of 25.7%.
• The highest number of burnt transaction was 46 on December 28th at 4:00 PM.
• The highest number of burnt transaction was 13 on August 4th at 6:00 PM.