Stablecoin Popularity for Swaps

Question 46: Which stablecoin is more popular for a wallet to use in swaps(use algorand.swaps table): USDT, USDC, STBL? Compare volumes and number of swaps for each over the month of March 2022.

Some explanation about Algorand

Algorand is an open-source, decentralized blockchain network that leverages a two-tiered structure and a unique variation of the Proof-of-Stake (PoS) consensus mechanism to increase transaction speeds and achieve finality. Algorand’s block rewards are distributed to all ALGO coin holders, offering all ALGO holders an opportunity to earn rewards instead of just block producers.

Now let's take a look at which Stablecoin is more popular

Method

1.The volume of swaps in March 2022
2.The number of swaps over the period

As you see in March of 2022 the highest volume was for USDC that volume was around 20M it mean USDC was most popular stablecoin in March of 2022 and after that the volume of STBL is high that was around 2M.The last one was USDT that volume was around 900K.

As we saw in the previous diagram, the largest volume for USDC , is the largest number for USDC that was around 120K

Conclusion

The most popular stablecoin in March of 2022 was USDC which can have different reasons