The aim of this dashboard is to compare the liquidity and activity of USDC transfers across 9 networks. The networks to be compared are Osmosis, Ethereum, Polygon, Optimism, Near, Flow, Solana, Algorand, and Axelar.

We would start by doing an overall comparison of the networks using the following metrics:

1. Amount transferred
2. Average amount per transfer
3. The number of wallets transferring USDC
4. The USDC liquidity transfer volume distribution based on USDC amount transferred.

The overall comparison section also has the ‘from-date’ and ‘to_date’ parameters to change the date duration in which to display data associated with the above metrics.

The deep analysis section would make use of the following USDC usage metrics:

1. USDC Usage Patterns Based on Time and Date

2. Is USDC Transfer Volume Correlated with Price Volume?

3. Daily Unique USDC Users/Senders & Repeat USDC Users Stats

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INTRODUCTION

METHODOLOGY

The following tables were used to obtain the USDC usage comparison across the 9 networks:

1. polygon.core.fact_token_transfers table was used for obtaining Polygon USDC transfer data.

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2. near.core.fact_receipts table was used for obtaining the Near USDC transfer data.

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3. algorand.core.ez_transfer table was used for obtaining the Algorand USDC transfer data.

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4. flow.core.fact_events table was used for obtaining the Flow USDC transfer data.

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5. solana.core.fact_transferswas used for obtaining the Solana USDC transfer data.

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6. ethereum.core.ez_token_transfers was used for obtaining the Ethereum USDC transfer data.

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7. optimism.core.fact_token_transfers was used for obtaining the Optimism USDC transfer data.

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8. axelar.core.fact_transfers was used for obtaining the Axelar USDC transfer data, and

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9. osmosis.core.fact_transfers was used for obtaining the Osmosis USDC transfer data.

Amount Transferred

The Number of Wallets Transferring USDC

The Average USDC Amount per Transfer

RESULTS

The Liquidity Transfer Volume Distribution Based on USDC Amount Transferred

Deep Analysis

USDC Usage Patterns Based on Time and Date

The above daily charts are for the past 2 months, while the above hourly charts are for the past 3 days. The following from the charts above can be observed:

1. USDC Transfer volume tends to be at its lowest around 23:00 UTC to 05:00 UTC on all chains.

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2. USDC Transfer volume tends to be at its highest around 11:00 UTC to 17:00 UTC on all chains.

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3. USDC Transfer volume tends to be at its lowest on Saturdays and Sundays on all chains e.g 24th or 25th of September 2022, 1st or 2nd of October 2022, 8th or 9th of October 2022, etc.

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4. USDC Transfer volume tends to peak during the week, especially on Mondays and Tuesdays on most chains.

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5. Flow USDC Transfers peak on different days compared to the rest of the networks. It tends to peak on Wednesdays and Thursdays.

Is USDC Transfer Volume Correlated with Price Volume?

The above daily charts are for the past 2 months. The liquidity volume in USD is used as price volume in the above charts. The following from the charts above can be observed:

1. On most of the charts, a strong positive correlation between the transfer volume line chart and price volume (i.e. liquidity volume in USD) can be observed.

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2. There seems not to be a clear correlation between transfer volume and price volume line charts on the Algorand network.

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3. Both the transfer volume and price volume are in an uptrend on all networks, except Solana (where both transfer and price volume are in a sharp downtrend) and Algorand (where the trend can’t be ascertained).

Daily Unique USDC Users/Senders & Repeat USDC Users Stats

The above daily charts and stats are for the past 2 months. The following can be observed:

1. Algorand has the highest number of USDC users/senders, with 1.393 million USDC transfers but has the lowest percentage of repeat users, with 5.16% of the total USDC senders on Algorand.

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2. Optimism has the highest percentage of USDC users/senders, with 79.3%.

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3. Flow has the lowest number of USDC users/senders and the lowest number of repeat users/senders, with 2290 users and 952 users respectively.

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4. Solana has the highest number of repeat USDC users/senders, with around 288,000 repeat users/senders.

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5. An uptrend can be observed on the daily unique user volume charts of all charts, except Solana (which has a slight downtrend on its chart), Flow, and Algorand (both seem to show a side-ways trend on their respective charts)

CONCLUSION

1. USDC Transfer volume tends to be at its lowest around 23:00 UTC to 05:00 UTC and at its highest between 11:00 UTC to 17:00 UTC on all chains.

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2. Also, USDC Transfer volume tends to be at its lowest on weekends and at its highest on weekdays, especially on Mondays and Tuesdays for most chains.

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3. The correlation between the price volume and transfer volume on most charts is positive.

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4. Daily unique USDC user or sender volume for the past 2 months on most chains has been on an uptrend.

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Overall Comparison

The below observations of the "Overall Comparison" section are for visualizations generated using the default date range (i.e. from 2022-11-14 to 2022-11-21). They don't apply for other entered date ranges.

1. Ethereum has the highest transferred liquidity volume for the default date range, with 138.8 Billion USDC of transferred USDC liquidity.

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2. Axelar has the lowest transferred USDC liquidity volume with 9.05 Million USDC of transferred USDC liquidity.

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3. Ethereum has the highest average amount per transfer, with around 184,000 USDC

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4. Solana has the lowest average amount per transfer, with 383 USDC.

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5. Ethereum has the highest number of wallets transferring USDC, with about 195,000 wallets.

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6. Flow has the lowest number of wallets transferring USDC, with 370 wallets.

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7. Transfer amounts from above 10000 USDC to 100,000 USDC constitute the amounts with the most liquidity volume on Osmosis, Near, Solana, Axelar, and Polygon.

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8. Transfer amounts from above 1,000,000 USDC constitute the amounts with the most liquidity volume on Ethereum, Algorand, and Flow.

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9. Transfer amounts from above 1,000 USDC to 10,000 USDC constitute the amounts with the most liquidity volume on Optimism.