Method

In this dashboard I tried to answer the above questions by sung of solana.core.fact_transfers table by following contract addresses:

when mint = 'EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v' then 'USDC' 
when mint = 'Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB' then 'USDT' 
when mint = '9vMJfxuKxXBoEa7rM12mYLMwTacLMLDJqHozw96WQL8i' then 'UST' 
when mint = 'H5kMHghGUKo4MnGEp4mpAMxveDwnRZ4hXeZMWfp5EzGF' then 'UXD' 
when mint = 'USDH1SM1ojwWUga67PGrgFWUHibbjqMvuMaDkRJTgkX' then 'USDH' 
when mint = 'Ea5SjE2Y6yvCeW5dYTn7PYMuW5ikXkvbGdcmSnXeaLjS' then 'PAI' 
when mint = 'AJ6EVZEePA5HAn58ZRbLCWX3MsK2BKrkT6bJYunuTU71' then 'NIRV' 
when mint = 'EjmyN6qEC1Tf1JxiG1ae7UTJhUxSwk1TCWNWqxWV4J6oc' then 'FRAX' 
when mint = 'EjmyN6qEC1Tf1JxiG1ae7UTJhUxSwk1TCWNWqxWV4J6o' then 'DAI'

I used this addresses to calculate the inflow and outflow volume when this token goes into and out of platforms, respectively.

Total transactions count and unique users count were calculated, too.

The period time for the investigations on this dashboard is over past 2 month.

Analysis

✅ In the following visuals the transactions count, transactions volume and shares of those are shown.

✍🏻 Conclusion

• Compared to other stablecoins on Solana, the volume of USDC transfers grew, reaching a high of $590B on September 2nd, $1.3B on September 15th, and $1.8B on October 5th.
• On October 5th, the number of USDC transfers reached a record high of 55, more than double the daily average.
• More than 68% of the total number of stabelcoin transactions and around 90% of the total volume of stabelcoin transactions belong to USDC, which is extremely significant.
• After the number of trades surpassed 2,000, the volume dropped to nearly nil; similarly, when the number of trades grew from 500 to 1000, the size of the bubble decreased, indicating that the trades involved less than $100 million.
• It is clear that the volume increased to over $200M for a number of transactions lower than 500.
• Swaps to USDC accounted for nearly 80% of all swap transactions, with USDT accounting for 19.2% and all other swaps accounting for the remaining 2%.
• More than 96% of all stablecoin exchanges include converting USDC to another asset.
• The vast majority of unusual swappers deal in currency pairs using USDC.
• Swaps of $386,9 million to USDC and $400,15 million from USDC to other assets.

About:

• Author: HaM☰d

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• Discord: 0xHaM☰d#8391

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• Twitter: @arjmandi_hamed

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• Email: h_arjmandi2012@yahoo.com

USDC Declining on Solana?

What we are looking at?

> * What appears to be the cause of USDC declining on Solana over the last few weeks? > * 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?

Hey there 👋!

Firstly, I appreciate you sticking with it until the conclusion.

I'm Hamed, a civil engineering Ph.D.

student interested in data analysis.

I've made many similar dashboards and visualizations since I started at Flipside in January.

Please take a look at my various contact details and let me know what you think.

:telescope: Findings:

As of above chart, can be seen that the transferred USDC volume rather than other stablecoins on Solana increased, and peaked three times at $590B, $1.3B and $1.8B in Sep 2 & 15th and Oct 5th, respectively.

Transactions count of transferred USDC peaked at 55 in Oct 5th, that was more than three times over other days.

More than 68% of transferred stabelcoins transaction count and about 90% of transferred volume are belongs to USDC, that is too significant.

:telescope: Findings:

The bubble chart in the right shows the volume of transactions in terms of bubble size of transactions volume.

As can be seen when the count of transactions passed 2000, the volume fell to approximately zero, also from 500 transactions to 1000 the size of bubble that indicate the volume of transactions are less than $100m.

For number of transactions less than 500 we can see that the volume went up to more than $200M.

So based on this chart can be resulted that most volume of USDC transferred by Whales.

✅ In the following visuals tried to depict the swaps metrics

In this section, the swap transactions by swaps to and from stablecoins have been tracked.

As of this graph can be seen that roughly 80% of swap transactions took placed to swaps to USDC, 19.2% to USDT and rest to others.

Also more than 96% of swaps from stablecoins executed to swaps from USDC to other assets.

:telescope: Findings:

More than 1.36M times transacted swap to USDC against to 1.14 transactions from USDC, in cumulative growth.

The count of transactions was in a decreasing trend since middle of Ssp.

In Oct 1th, more than $33.5M swapped to USDC and $22.5M to USDT.

Most of unique swappers are tend to swap their assets To/From USDC.

Over $386.9M swapped to USDC and $400.15M swaps from USDC.

✅ In the following visuals the destinations of transferred USDC and other stablecoins are shown

As of following charts can be observed that most amount of transferred volume (91.3%) are belongs to USDC and other to USDT (8.7%), and also closely to100% of volume transferred to CEXs.