Chain USDC Transfer Activity Comparison

Observations

• In terms of the number of wallets sending and receiving USDC in the past year Algorand, Ethereum, polygon, and Solana have much more activity than other chains measured
• In terms of USDC transfer Volume, Ethereum and Solana have a much larger transfer volume than all the other chains
• Near has had a small USDC transfer volume in the past year, but the average transfer is the 3rd largest
• Each day there are very similar number of USDC transfers on Osmosis as Axelar

Target Chain USDC Transfer Size Analysis

Description

• The graphs above show the transfer size of USDC broken down of the target chain over the selected time period

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Target Chain USDC Top transfers

Description

• The graphs above show the top senders of USDC on the target chain and how those users transfer volume compare to other users on that chain.

Target Chain Native Asset Price vs. USDC Transfer Volume

Introduction

USD Coin is a digital stablecoin pegged to the United States dollar. USD Coin is managed by a consortium called Centre, which was founded by Circle and includes members from the cryptocurrency exchange Coinbase and Bitcoin mining company Bitmain, an investor in Circle. USDC exist on many blockchains.

Game plan

In this dashboard, we are looking to answer the following questions about USDC

• What chains have the most Amount transferred and the number of wallets transferring USDC?
• What does the USDC Transfer distribution look like across chains?

Methodology

In this dashboard, we will take the data from the transfer tables from ethereum, optimism, solana, algorand, flow, osmosis, near, polygon. will look at the transfer activity of the most active USDC token on each chain.

Data

The data for this dashboard comes from the fact_transfers and ez_transfer tables in Flipside’s database

Sections

1. Chain USDC Transfer Activity Comparison

2. Target Chain USDC Transfer Size Analysis

3. Target Chain USDC Top transfers

4. Target Chain Native Asset Price vs. USDC Transfer Volume

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Description

• The graphs above show the USDC transfer volume on the target chain and find its correlation with the chain’s native asset.

Conclusion

• What chains have the most Amount transferred and the number of wallets transferring USDC?
  • In terms of the number of wallets sending and receiving USDC in the past year Algorand, Ethereum, polygon, and Solana have much more activity than other chains measured
  • In terms of USDC transfer Volume, Ethereum and Solana have a much larger transfer volume than all the other chains
• What does the USDC Transfer distribution look like across chains?
  • there is a large difference in USDC transfer distribution across chains. on Ethereum, the top 30 wallets make up less than 1% of USDC transfers and on Algorand there make up ~92% of the transfer volume.

How do the select boxes work?

• All the graphs in this dashboard will display data from the past X days where X is the number in the “data_first_day“ select box
• All graphs not in the first section will display data from only the chain selected in the “chain“ elect box