Try Quests to earn cryptoHow is UST being used?
As shown in graph 1 and 2 in the last 60 days UST has been mainly used on protocols and decentralized exchanges (dex) instead of centralized exchanges (cex). Graph 2 shows a break down of label sub types to see where those balances come from. As we can see centralized exchanges show the lowest balance in UST. Graph 3 shows a similar picture for cexes, with very low transactions. Last but not least, it is interesting to see the discrepancy in Defi addresses. Even though the UST balances are the highest as shown in graph 2, we can see that the number of transactions is low. This could suggest whales are the ones making the moves in this space in UST. On the other hand, "other wallets" could make reference to small wallets as they show the highest number of transactions but a low amount of UST balance.