Introduction

Stablecoins are cryptocurrencies whose values are pegged to a stable asset, mostly fiat currencies. Compared to USDT, USDC and BUSD are more transparent. Additionally, they are equivalent to USDT in terms of the blockchain and exchange rate. Therefore, if you desire transparency, USDC or BUSD are better choices than USDT if you prefer investing in a cryptocurrency with a larger volume and liquidity. Stablecoins such as USDC can be used for multiple purposes, such as storing value, accessing yield in the market enabled by blockchain, and payments. Although stablecoins achieve their price stability via collateralization of buying and selling the reference asset, they may fluctuate slightly from their token price, and then gradually return to the original value. USDT’s stability is quite reliable as the stablecoin has managed to remain steady at $1.

Methodology

The query here looks into different parameters of the USDC and BUSD tokens in terms of their swaps happened which basically gives an idea about the swapping trend of users with these tokens.This also describes aspects such as swap volume,transaction rate,popularity of users etc from the swapping event of Thorchain.

The table here shows the data that shows the data of swappers with volume and transaction rate of swappers.

The chart here displays the swap rate of BUSD users over the period with the users swapping BUSD token for THOR.RUNE Asset.

The transaction which is the swap rate of USDC token for the users are charted here for the same period of time and this is seen that the swap rate are increasing in the recent dates.Upon comaparing both we see that,

The line graph here displays the Transaction rates in the case of swapping by both BUSD and USDC users over time and it is seen that the transaction rates are higher for BUSD which means that more people are swapping their BUSD to RUNE instead of keeping the token.

The swap volume of the BUSD token in USD value is charted here and it is seen that there is a surge in the volume of BUSD swapped in the past two months than ever in the known data.

The volume of the USDC token that are swapped by the users for RUNE are charted for the period of time and it is also peaking in the recent days.Now lets compare both the data for an overview:

The chart here shows the distribution of the volume of USDC and BUSD that is swapped by the users with RUNE over the chosen peroid of time and it indicates that the BUSD volume swapped is very higher than the USDC volume swapped .This may account the credibility of the BUSD tokens as users may get a fear about the stability of the token or the highly unfeasible gas fee of the Ethereum token may also be the reason that people are using BUSD for swapping .

Now the popularity of the USDC and BUSD tokens are charted by accounting the users that have participated in swapping using both of these tokens.

This chart shows the count of the users that have performed swaps in the ecosystem which shows that the most people prefer to swap BUSD than the USDC token which is some thing to be investigated as both almost maintain their stability though but then the influence of Gasprice is also an important parameter which needs to be studied to know whether this is the reason for the less USDC swaps happened.