Try Quests to earn SOLOpen Analytics - 2. Solana Open Analytics
The price volatility indicates that USDT has declined more in value than USDC.The highest percentage of all Solana stablecoins belongs to USDC, followed by USDT.People are more interested in USDC than USDT, according to the stablecoins' daily market share.The average USDC share percentage is often above 90% from October 2021 to November 2022.The period between March and October 2021 saw USDT hold a market share of 30 to 50% of the Solana blockchain.
The volume of transfers in each wallet is distributed as follows:
The benchmark in USDC reveals that 27,133 thousand users transfer only $10 as the biggest percentage of users, but there are 7328 thousand people who have volume exceeding 10,000, which is nearly 2.5 times as many as there were in USDT.
Among the top wallets that sent the most USDC to CEX, 9WzDXwBbmkg8ZTbNMqUxvQRAyrZzDsGYdLVL9zYtAWWM has the largest share with $4.016 billion (18.7%). Conversely, the exact same wallet has the highest amount of deposits in USDT. The wallet received $1.316 billion (19.2%) from Solana and deposited it into CEXs. Popularity of USDC and USDT on the Solana network Based on the number of users interacting with them in the transaction view, USDC has the highest number and share with 2.866 million users (30.9%), followed by SOL and USDT tokens.
An analysis of USDC transfers reveals that the FTX wallet, which received roughly $17 billion, is the best recipient for USDC transfers.
The graph demonstrates that this wallet is responsible for about 33.8% of withdrawals. \n This transfer demonstrates the cessation of deposits to FTX and the division of their volume between Binance and Coinbase wallets.
Users of Solana, a Binance wallet, most frequently send this coin to USDT. \n The USDT deposits into the wallets of this exchange also stopped recently during FTX's abrupt collapse, and based on the weekly charts, it appears that the Gate.io wallet has taken its position as another destination.
According to the weekly records , the biggest volume of deposits and withdrawals in USDC and USDT happened in October or November 2022.
Since the high on October 3rd, around $4.06 billion USDC has been deposited and withdrawn into Solana, and $4.77 billion on November 7th, 2022.
On November 14, the largest USDT deposit or withdrawal took place.
In terms of Solana's admission from exchanges, FTX's USDC deposit of $46.564 billion was the largest. However, people transferred $9.914 billion from Binance, the largest exchange, to Solana.
Both coins' entry and output volumes to the Solana network are shown. Compared to USDT, USDC has a higher volume.
Solana has received 81.9billion USDC and has had 133 billion USD withdrawn from it thus far, whereas 22.3 billion USDT have come in and around 37.9 billion USD have been taken out.
Conclusion
Compared to USDT, USDC has a substantially larger market share for both inbound and outbound traffic. \n Solana has received 81.9 billion USDC and has had 133 billion USD withdrawn from it thus far, whereas 22.3 billion USDT have come in and around 37.9 billion USD have been taken out. \n A total of $4.06 billion USD has been put into and withdrawn from Solana thus far, peaking at $4.77 billion on November 7, 2022, and $4.57 billion on October 3, respectively. \n On the other hand, the biggest USDT deposit or withdrawal, amounting to almost $1 billion, occurred on November 14, 2022. \n A USDC transfer check revealed that the FTX wallet was the ideal place for USDC to be transmitted. \n Users of Solana most often use the Binance wallet to store their USDT. \n Deposits of USDT and USDC to the exchange's wallets were suspended during the FTX meltdown. \n The most money has been taken out of Solana by 9WzDXwBbmkg8ZTbNMqUxvQRAyrZzDsGYdLVL9zYtAWWM, totalling $4.016 billion USDC and $1.316 billion USDT. \n The most used coin is USDC, which has 2.866 million users who interact with it.
