About:

What is the Avalanche network?

Avalanche (AVAX) is a cryptocurrency and blockchain platform that rivals Ethereum. AVAX is the native token of the Avalanche blockchain, which—like Ethereum—uses smart contracts to support a variety of blockchain projects. The Avalanche blockchain can provide near-instant transaction finality.

Lowest costs to deploy contracts

Deploying smart contracts on Avalanche cost just a tenth of what they cost on Ethereum. High gas fees, front-running, and other adverse effects of slow smart contract blockchains are now a thing of the past.

Flexible, composable VMs

Avalanche Virtual Machines (VMs) enable developers to easily launch blockchains with a wide array of application-specific features. The Ethereum Virtual Machine is fully running on Avalanche with more VMs to come.

Methodology:

In this dashboard, we are going to get information about USDC swap and transfer transactions and compare them. And for this purpose, we have used the avalanche.core.fact_event_logs table

USDC contract address :(0xB97EF9Ef8734C71904D8002F8b6Bc66Dd9c48a6E

USDC swap and transfer :

Observations:

• In the comparison between swap and usdc transfer, there is not much difference between swap and transfer in terms of the number of users and the number of transactions.

• In the comparison between USDC swap volume and USDC transfer, the difference between the USDC transfer volume and the swap volume is very large, and the transfer volume is almost 6 times the swap volume.

• In the graph of the number of normalized daily users, you can see that the number of transferring users was 27% at the lowest level and 72% at the highest level.

• In the normalized graph of the average daily volume, you can see that the average volume of USDC transferred was 50% in the lowest case and 98% in the highest case of the total average daily volume of swap and transfer.

• And in the distribution chart of the number of users based on the volume of swap and transfer transactions, as you can see, the largest number of users had transactions of less than 10 USD.

• The destination of most users and most of the volume of USDC transferred to the binance exchange.

USDC mint & burn:

Observations:

• largest amount of USDC was minted 377m on 6 Aug 2022 and burned 513m on Jul 28.
• The total number of users who minted USDC is almost 2 times the number of users who burned USDC.
• The number of daily users who have mined USDC is 52% in the lowest amount and 92% in the highest amount, the total number of daily users who mint and burn USCD.
• trader joe protocol has the most interaction with USDC on avalanche .

Conclusion:

• The number of users and volume of USDC transfers is more than the number of users and volume of USDC swaps.
• Average transfer amount is also higher than the average swap amount.
• The swap volume of nearly 35% of users who swapped USDC was less than 10 USD, most of the users are in this category.
• The transfer volume of nearly 31% of users who transferred USDC was less than 10 USD, most of the users are in this category.
• The total number of users who minted USDC(32353) is almost 2 times the number of users who burned USDC(16300).
• average USDC mint (almost 45,557) is almost 2 time more than USDC burn (25,891) by day.
• trader joe protocol has the most interaction with USDC on avalanche .

Link to my tweet :