Try Quests to earn cryptoPool Together USDC Deposits And Withdrawals
In this analysis, the volume of USDC deposits and withdrawals into and from PoolTogether on the Ethereum network has been investigated over the last month.
PoolTogether is a crypto-powered savings protocol based on Premium Bonds. Users can save money and have a chance to win every week. It is a decentralized and open-source blockchain protocol that provides prize-linked savings where all depositors are offered a chance to win prizes without needing to risk their deposited funds. PoolTogether is a multi-chain protocol and is available across multiple Ethereum, Polygon, And Avalanche networks. PoolTogether allows users to deposit USDC in exchange for tickets (PTaUSDC) on the aforementioned networks.
The deposits and withdrawals data were collected from the ez_token_transfers table of the core schema of the ethereum database. The addresses of the PTaUSDC contract and Yield Source Prize Pool were used to filter the subsequent deposits and withdrawals.
>PoolTogether aUSDC Yield (PTaUSDCY) contract: 0x32e8d4c9d1b711bc958d0ce8d14b41f77bb03a64 > >Yield Source Prize Pool address: 0xd89a09084555a7d0abe7b111b1f78dfeddd638be
In the last month, more than $8.5M worth of USDC coins were deposited into PoolTogether by only 56 addresses which resulted in average deposits per user of around 152k USDCs. During the same period, only 3 addresses had withdrawn around $1.8M worth of USDCs in total. As a result, there has been an inflow of around $6.7M in the form of USDC tokens into the PoolTogether pool.
The volume of daily USDC deposits and withdrawals has been plotted on the following chart. It can be seen that not every day has seen a massive injection of USDCs into PoolTogether. There was a huge deposit of money on June 14th and 18th worth around 3.25M and 2.5M USDCs, respectively. Other than those, there were only deposits of a few hundred thousand on 7 days that stand out compared to the other days. The daily number of unique addresses who either deposited or withdrew USDCs has also indicated that there have not been many individuals who used the platform over the last month.
In conclusion, the analysis of USDC deposits and withdrawals into and from the PoolTogether has demonstrated that although only a few unique addresses deposited their coins into the pool on a daily basis, they provided a substantial amount of around $8.5M worth of USDCs combined.