Users and Transactions

After exploring the holders and supplies of stablecoins, let's delve into how users utilized these stablecoins on Avalanche and how these usage trends evolved over time. First, we'll start by examining user behavior and transactions. When looking at the monthly distribution of addresses or users, it becomes clear that until December 2021, USDC.e and USDT.e held the highest shares in terms of monthly transactions on the Avalanche network. However, after that period, the shares of USDT.e and USDC.e declined, while those of USDC and USDT increased. In the most recent month, USDC claimed the majority with a 61% share, while USDT held 34% of the user shares on Avalanche. Furthermore, the monthly count of users engaging with Stablecoins exhibited a significant increase, surging from below 200,000 to reach 800,000. In aggregate, 44% of users employed USDC, 30% utilized USDT, and 11% engaged with USDC.e. Among these stablecoins, EUROC and BUSD had the lowest adoption rates. It's important to note that EUROC was introduced more recently and requires additional time for a fair comparison with other stablecoins.

Exploring Stablecoins share Across Avalanche!