Try Quests to earn cryptoOsmosis Stablecoin Dominance
Q20. Compare the transaction volume for USDC, USDT, and DAI on Osmosis. Is there a stable coin that Osmosis users prefer?
This dashboard will give you
- Explanation of the osmosis network
- Shows the volume chart of USDT, DAI and USDC transactions
- Explanation of the currency that most users prefer
The charts below show the trading volumes of USDT, USDC and DAI currencies on the Osmosis network on different days, which is based on the volume of swaps performed with axlDAI, DAI.grv, USDT, USDC.grv and axlUSDC stable coins.
As shown in the charts above, at the beginning of the Osmosis network, the USDT stable coin was mostly used for transactions, but after May 7,But after May 7, this trend did not continue and the USDT lost its popularity to a great extent, and was replaced by the stable coins of DAI and USDC, and between these two currencies,Between these two currencies, USDC is more and more popular and users use it more in their transactions
According to the charts above and the descriptions given, the USDC currency has the highest dominance, followed by the DAI currency.
Osmosis is an automated market maker (AMM) built with the Cosmos SDK. Osmosis is a decentralized exchange specifically built for Cosmos, with plans to expand to more blockchains. As a DEX, Osmosis nurtures a heterogeneous and interoperable cross-chain trading experience.