Overview Status

Swap

In the graph of swaps volume, it can be seen that the volume before the changes was much more than the changes, and after the changes, the volume of swaps was decreasing. In the general graph of the swaps volume, this can also be seen, due to the decrease in volume, it can be seen that the average volume It has also decreased. In general, these changes have had a bad effect on swaps

Netflow swaps can be seen in these two charts above. Again, we can see the downward trend in both cases, but it is more important in the volume measures. However, we cannot see the specific days that the USDC was changed by this event. It is noted that the Binance delisting slightly dampened USDC activity overall

In the graphs in front of you, you can see that Sushiswap and Metamask have the advantage in the number of active users and transactions, and then doing the operation did not have much effect on these projects. But Mev Bot has an advantage in the volume, which changes in its interface have had a great impact on it and increased the volume of the project, but these changes have caused a decrease in the number of projects.

news text

Binance, the world’s largest crypto exchange, said on Monday it is introducing “BUSD Auto-Conversion,” which will be used to convert any existing user balances and new deposits of USD Coin (USDC), Pax Dollar (USDP) and True USD (TUSD) into its own stablecoin.

The move is intended to enhance liquidity and capital efficiency for users, the company said in a statement.

Binance said it will remove and cease any trading on spot pairs that include USDC, USDP and TUSD; it will start the conversion on Sept. 29.

USDC, which is principally operated by Circle Internet Financial and is the second largest stablecoin, has a nearly $51.9 billion market capitalization. Binance’s stablecoin, BUSD, is valued at about $19.4 billion, according to crypto data provider CoinGecko.

USDC products affected include saving accounts, DeFi staking subscriptions and crypto loans, which will be closed and liquidated on Sept. 23.

Analysis

Binance As of September 29th, Binance has automatically converted new USD Coin (USDC), Pax Dollar (USDP) and TrueUSD (TUSD) accounts and deposits to Binance USD individually.

However, users have been able to continue withdrawing unsupported stablecoins, and Binance has converted the remaining stablecoins to fiat currency for BUSD customers on a one-to-one basis.

But... how does this affect USDC, the #2 stablecoin with a cap of $52 billion? Let's take a look at it in the analysis below.

Methods

Things we look at in this dashboard:

Active users of USDC before and after the conversion,

transfer the volume of USDC before After USDC conversion Average transfer volume before and after conversion Number of USDC transactions before and after conversion Active USDC Swaper Volume of USDC Swaps The average volume of USDC Swaps was Netflow exchanges The network flow volume was exchanged Which platforms are most used to interact with USDC

It can be seen that the volume of transactions has increased after the changes, and its volume has experienced an increase since October 24 and has compensated for the lack of the market after the changes. In the general diagram, it can be seen that the volume after the changes was more than before the changes.

According to the above explanations, the average volume is more after the changes, and considering the number of users and transactions are less than before the changes and the volume is more than before the changes, it is obvious that the average volume after the changes is much higher than before the changes.

In the cumulative chart, all the above analysis can be clearly seen

In the overview of active users, it can be seen that the number of users was more before the operation, and in the howling view, it can be seen that the number of users decreased in a short period after the operation, but it is increasing again. Before this change, the number of users was 19 k. This amount did not change much on the day of Tair, and it continued to decrease

In the number of transactions, like users, there was a drop, but it was less than users, and it returned to the normal routine almost from October 24, and it has been increasing, and on October 30, it experienced 38 thousand transactions.

In the overview in the daily chart of swappers we can see The number of swappers has decreased after the changes and this can be seen in the overall chart The highest number of swappers after the changes was on October 13 with 4098 swappers in the number of swaps It can be seen that this number was more before the changes and after the changes And it has been increasing in recent days

Netflow

Top 10 Project

Conclusion

In the overview of active users, it can be seen that the number of users was more before the operation, and in the howling view, it can be seen that the number of users decreased in a short period after the operation, but it is increasing again. Before this change, the number of users was 19 k. This amount did not change much on the day of Tair, and it continued to decrease In the number of transactions, like users, there was a drop, but it was less than users, and it returned to the normal routine almost from October 24, and it has been increasing, and on October 30, it experienced 38 thousand transactions. It can be seen that the volume of transactions has increased after the changes, and its volume has experienced an increase since October 24 and has compensated for the lack of the market after the changes. In the general diagram, it can be seen that the volume after the changes was more than before the changes.

According to the above explanations, the average volume is more after the changes, and considering the number of users and transactions are less than before the changes and the volume is more than before the changes, it is obvious that the average volume after the changes is much higher than before the changes In the overview in the daily chart of swappers we can see The number of swappers has decreased after the changes and this can be seen in the overall chart The highest number of swappers after the changes was on October 13 with 4098 swappers in the number of swaps It can be seen that this number was more before the changes and after the changes And it has been increasing in recent days

In the graph of swaps volume, it can be seen that the volume before the changes was much more than the changes, and after the changes, the volume of swaps was decreasing. In the general graph of the swaps volume, this can also be seen, due to the decrease in volume, it can be seen that the average volume It has also decreased. In general, these changes have had a bad effect on swaps Netflow swaps can be seen in these two charts above. Again, we can see the downward trend in both cases, but it is more important in the volume measures. However, we cannot see the specific days that the USDC was changed by this event. It is noted that the Binance delisting slightly dampened USDC activity overall In the graphs in front of you, you can see that Sushiswap and Metamask have the advantage in the number of active users and transactions, and then doing the operation did not have much effect on these projects. But Mev Bot has an advantage in the volume, which changes in its interface have had a great impact on it and increased the volume of the project, but these changes have caused a decrease in the number of projects.