Stablecoins Deposit Analysis

Within this section, we will break down our analysis in two parts to compare the results when looking at an overview level of all deposit transactions compared to when we are focusing on the most used platform, Aave V2.

Total Deposit Transaction Volume Analysis

The figure on the upper left showcases the top ten ranked stablecoins according to total deposit transaction volumes across all platforms. WETH comes in first by accounting for 34% of total deposit transactions which equates to approximately 174,000 transactions. USDC comes in second by accounting for 16% of total deposit transactions which equates to approximately 81,700 transactions and DAI comes in third by accounting for 10% of total deposit transactions which equates to approximately 53,200 transactions.

Aave V2 Stablecoins Deposit Analysis

On the other hand, when we focus on the most popular platform used for deposits, Aave V2, we get a slightly different result. WETH still comes in first by accounting for 42% of all deposit transactions which equates to approximately $106.63 billion USD. DAI switched places with USDC which puts itself in second place by accounting for 19% of all deposit transactions which equates to approximately $47.14 billion USD. USDC ranks third by accounting for 18% of all deposit transactions which equates to approximately $46.33 billion USD.

thatweb3girl