Table of contents:

I. Introduction

II. Methodology

III. USDC inflows and outflows to and from SOLANA

IV. USDT inflows and outflows to and from SOLANA

V. Top 5 addresses regarding inflow and outflow of USDC

VI. Conclusion

I. Introduction:

In this Dashboard, I will analyse the questions presented in the bounty of USDC Declining on Solana? - i.e. It looks like over the last few weeks the market cap of USDC on Solana has been declining. What appears to be the cause of this? Where is USDC being removed from the ecosystem and where is it being sent to? Does this trend seem to be driven by a few big whales, or does it seem more broad-based throughout the ecosystem? Are other stablecoins also dropping in market cap on Solana?-.

Whether it is loosing its place or keeping it. First of all, I need to reference one of my previous dashboards regarding the Solana chain (NimaSolana_Solend Demographics). For the USDC, on SOLANA also cf. (solana.com)

II. Methodology:

For the presented questions, First, I will show some charts to show the situation of USDC on SOLANA. I will look at the inflow and outflow of USDC to and from the SOLANA. Then I will compare it to the inflow and outflow of USDT, which is the biggest rival of USDC. Then I will show the 5 top addresses from the inflow and the outflow of USDC. Finally, I will conclude whether the USDC is ascending or descending.

III. USDC inflows and outflows to and from SOLANA:

as it is visible in the chart, the outflow of USDC from SOLANA was around 400 million to 600 million USDCs per week however, there were some weeks that the outflow was more than that. But in the recent week, more precisely from the end of May 2022 until September, there was a decline in outflows, but in the recent month, the outflows from SOLANA increased.

In the next chart, you can see the inflow of USDC into the SOLANA chain, which shows the same pattern. From the end of May 2022 until September 2022, an enormous decrease in the inflow of USDC is visible, but in the last month, the trend started to change and an increasing trend started.

IV. USDT inflows and outflows to and from SOLANA:

The trend of inflow and outflow of USDT to and from the SOLANA chain is completely comparable to USDC. The charts look the same but with small changes.

The trend of outflow and inflow of USDT on Solana shows a decreasing trend looking like USDC, except there is no increasing in the last month.

V. Top 5 addresses regarding inflow and outflow of USDC:

The top 5 addresses regarding the inflow of USDC on Solana are:

1. 6ZRCB7AAqGre6c72PRz3MHLC73VMYvJ8bi9KHf1HFpNk
2. 41zCUJsKk6cMB94DDtm99qWmyMZfp4GkAhhuz4xTwePu
3. 6tW8VxosufrSQBhADuGjjB45BKiMCFuYS63YR7LoizK7
4. 2ojv9BAiHUrvsm9gxDe7fJSzbNZSJcxZvf8dqmWGHG8S
5. 5tzFkiKscXHK5ZXCGbXZxdw7gTjjD1mBwuoFbhUvuAi9

The top 5 addresses regarding the outflow of USDC on Solana are:

1. 6ZRCB7AAqGre6c72PRz3MHLC73VMYvJ8bi9KHf1HFpNk
2. 2ojv9BAiHUrvsm9gxDe7fJSzbNZSJcxZvf8dqmWGHG8S
3. 6tW8VxosufrSQBhADuGjjB45BKiMCFuYS63YR7LoizK7
4. JBpj7yp4Afvb71TmanVwJZXGeX4kqbGFvjCFCRo3EbTM
5. 5tzFkiKscXHK5ZXCGbXZxdw7gTjjD1mBwuoFbhUvuAi9

VI. Conclusion:

In this dashboard, I showed that although there was a decreasing trend regarding the inflow and outflow of stablecoins of Solana, the USDC in the last month started an increasing trend, unlike others. the presented wallets belong to exchanges, and I think that the presented trends are happening due to act of real users.