In this dashboard, we intend to compare the process and volume of transactions and transfers in Avalanche with several L2.

We want USDC and its uses on Avalanche Network with Polygon, Arbitrum and Optimism Compare in the last 5 months.

We want to see which network was mostly the most Volumes from / to USDC, and most tokens were swept to USDC and vice versa.

Here's the USDC transfers on these networks to compare the volume and values together to see which one had the most volume.

In the next step, we go to the USDC transfer speed on these networks to find the highest speed and see if the speed was higher in Avalanche or on other networks.

In the next step, we compare the number of holders of these networks and compare them in terms of the amount of their holding.

Finally, we compare the Burn & Mint Volume on these networks.

We use FlipSidecrypto data to do this.

We use avalanche.ez_dex_Swaps to find Volume Swap and use token_out = 'USDC', Token_in = 'USDC', as well as using its contractor on the Avalanche Volume network.

We also use the above method to find volumes of swaps on Polygon, Optimism networks, using Polygon.core.ez_Dex_Swaps tables and opimism.ez_dex_Swaps as well as using USDC contract on these networks.

To find volumes of the swaps in the arbitrum, we use the arbitrum.core.ez_decoded_event_logs table and use decoded_log to allow the USDC toToken or fromToken the Event_Name to be SWAP.

To find the volume of transmission (such as the number and amount of transmission, the speed of transmission, the sector and the labels that the most USDC transfers were), we are the same as the name of the network and the contractor.DC

Intro

Introduction

Goals

About USDC

Comparing Swaps Volume

Swap From / To USDC

Trader on Swap From / To USDC

Amount Swaped From / To USDC

Volume Per Tokens

Top Tokens

Comparing Transfers

Monthly Transfer

Monthly Transfer User

Monthly Amount Transfered

Monthly Volume Per Sector

Monthly Volume Per Labels

Top Sector

Top Labels

Comparing USDC Transfers

TPD

TPH

TPM

USDC Holders Comparing

Distribution of Holder Per Amount

% USDC Holders Distribution

Conclusion

USD Coin (USDC) is a digital currency that is fully backed by U.S. dollar assets. USDC is a tokenized U.S. dollar, with the value of one USDC coin pegged 1:1 to the value of one U.S. dollar. The value of USDC is designed to remain stable, making USDC a stablecoin.

Stablecoins are commonly backed by reserve assets like dollars or euros to achieve price stability.

Coinbase. "Introducing USD Coin (USDC) - Stablecoin By Coinbase."

The price stability of USDC contrasts sharply with the notorious price fluctuations of other cryptocurrencies like Bitcoin and Ethereum.

KEY TAKEAWAYS

• USD Coin (USDC) is a cryptocurrency that is backed by fiat money, making it a stablecoin.

• USDC reserve assets are held in segregated accounts with U.S.-regulated financial institutions.

• USDC is not issued by the U.S. government.

Despite its name, it is important to note that USDC is not issued or backed by the U.S. government. USDC is an open-source project, meaning that anyone can view and contribute to the project's code.

Keep reading to understand more about USDC, including how it works and the various use cases for the digital currency.

Understanding USD Coin

USD Coin (USDC) is a digital currency that is fully backed by U.S. dollars or dollar-denominated assets like U.S. Treasury securities. USDC's reserve assets are held in segregated accounts with regulated U.S. financial institutions. The accounting firm Grant Thornton oversees these segregated accounts and provides monthly attestation reports.

You may be wondering about how USDC maintains the 1:1 peg with the U.S. dollar. If you initiate a transaction to buy one USD Coin using fiat currency, then that fiat currency is deposited and stored as one U.S. dollar and the new USDC is minted. If you sell a USD Coin in exchange for fiat currency, then the USDC is burned when the fiat money is transferred back to your bank account.

USDC is compatible with several blockchains, including :

• Ethereum

• Algorand

• Solana

• Stellar

• TRON

USD Coin is managed by Centre, a consortium co-founded by the cryptocurrency exchange Coinbase (COIN) and Circle, a financial technology company. Centre aims to change the global financial landscape by connecting every person, merchant, financial service, and currency worldwide.

Advantages and Disadvantages of USD Coin

Pros

1. Low price volatility

2. Fully backed by U.S.-regulated reserve assets

3. Can be used as a hedge against inflation

Cons

1. No price appreciation

2. Mix of reserve assets not fully disclosed

3. Not immune to U.S. dollar price inflation

Use Cases for USD Coin

As a price-stable digital asset, USDC can be used in several ways:

Hedge against volatility: Investors with exposure to other cryptocurrencies can reduce their portfolios' volatility by strategically buying a stablecoin like USDC. Owning USDC during periods of significant market volatility can help to stabilize a portfolio's value.

Pricing in fiat money: Digital assets listed on cryptocurrency exchanges can be priced in fiat money using a stablecoin like USDC.

Stable price-pegging: The price stability of USDC enables the stablecoin to represent equity ownership or fund investments. USDC can also be used to represent liabilities or debt.

Remittances: USDC can be used to send funds across borders. Recipients can store USDC without using a bank account or being concerned about price volatility.

U.S. dollar exposure: Non-U.S. investors wishing to gain exposure to the U.S. dollar can add USDC to their cryptocurrency investment portfolios.

Hedge against inflation: Non-U.S. investors concerned about inflation of their local currency can hold a stablecoin like USDC to help protect the value of their money.

Global crowdfunding: Startup companies and nonprofit organizations can raise money from investors and donors worldwide by soliciting digital currency. Raising funds in the form of a stablecoin like USDC ensures that the value of the money raised does not fluctuate over time.

Blockchain interconnection: Since USDC is compatible with several autonomous blockchains, using USDC can be a way to integrate payment systems and applications across blockchains.

What Type of Stablecoin Is USD Coin?

USD Coin (USDC) is a fiat-collateralized stablecoin, meaning that USDC tokens are collateralized by fiat money like U.S. dollars. Other types of stablecoins include those that are collateralized by a cryptocurrency, an algorithm, or by a hybrid approach.

Source : www.investopedia.com