Methodology

This dashboard intends to see which of the USDC, USDT, and STBL had the highest volume and number of transactions in the swaps that have taken place since March 1st. Algorand.swaps table is used in all analyzes.

Swap from amount

The line chart, bar chart, and donut chart below express a concept differently. The chart below shows the amount of stablecoins swaps to other tokens from March 1st. Accordingly, the USDC has the highest trading volume in all periods, followed by STBL and USDT. The USDC swap was $ 21M (75% of the total volume of stablecoin swaps), $ 6M (21% of the total volume) was the STBL swap, and $ 919K (3% of the total volume) was the USDT swap.

Swap to amount

The following three charts, just like the previous three charts, express a concept in three different ways. The chart below shows the amount of swaps of other tokens to stablecoins since March 1. Accordingly, the USDC has the highest trading volume in all periods, followed by STBL and USDT. During this period, $ 21 million (75% of the volume of stablecoin exchanges) was the USDC swap, $ 5.9 million (21% of the total volume) was the STBL swap, and $ 918,000 (3% of the total volume) was the USDCT swap.

Number of swaps

The chart below shows the number of swap transactions in which stablecoin has been swapped since March 1st. Accordingly, USDC had the highest number of 74K transactions, followed by STBL with 34K transactions and USDT with 11k transactions.

Conclusion

In summary, the following can be mentioned:

1- In the Algorand blockchain, the USDC has been the dominant stablecoin since March, accounting for 75% of the swaps.

2- STBL, although it is algorand's native stablecoin, it has not been able to attract the attention of most users so far.

3- USDT had the lowest number of transactions, and it is expected that the number of USDT swaps will decrease even more with the power of STBL.