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Artemis Profile picture
@artemis
Jun 27, 2024 • 11 tweets • 4 min read • Read on X
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Solana stablecoin volumes - a small thread 🧵
Since June 10, Solana stablecoin volume have diminished from $74bn to roughly $7bn a day Image
As mentioned in @WazzCrypto's thread, much of overall volume is driven by 2 sources: MEV Bot 7rhxnL and Phoenix DEX, accounting for ~$1tn of total transfer volume over the last month

solscan.io/account/7rhxnL…
Image
On more recent time horizons in the Artemis stablecoin breakdown view, MEV Bot 7rhxnL has significantly less transfer volume - what happened? Image
On June 10, the Solana Foundation removed delegations for several validators engaged in sandwiching.
This action follows @jito_labs's decision to spin down its mempool offering in March, citing adverse behavior towards retail traders.
The June 10 date corresponds directly with the day MEV Bot 7rhxnL drastically reduced its stablecoin activity Image
It is reasonable to assume that MEV Bot 7rhxnL operated via one of these sandwiching validators and that the bot's strategy is no longer viable given the undelegation.
In the next week, we'll be rolling out 2 new stablecoin metrics to make it easier to adjust for automated actors:

1️⃣ P2P Stablecoin Transfer Volume (from one non-contract address to another)

sneak preview: app.artemis.xyz/chart-builder/…
Image
2️⃣ Adjusted Stablecoin Transfer Volume, which seeks to remove large transacting entities via simple heuristics (more on this methodology soon!) Image
Along with these two new metrics, stay tuned for a stablecoin dashboard UI overhaul!

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More from @artemis

Artemis Profile picture
May 29
How are stablecoins used for payments?

Alongside @CastleIslandVC and @dragonfly_xyz, we sourced data from 20 leading stablecoin companies (with public data from 11 more) to answer the question.

A 🧵 on the incredible growth of stablecoin payments Image
We were able to specifically attribute $94.2 billion worth of stablecoin payments settled between January 2023 and February 2025

Monthly stablecoin payment growth is up 215%, from <$2bn to over $6.3bn Image
The most popular stablecoin used by sampled firms was @Tether_to , with around 80 percent market share by volume, followed by @circle USDC Image
Read 8 tweets
Artemis Profile picture
Sep 16, 2024
@Celo recently passed @trondao in daily active addresses for stablecoin usage.

-What's behind this meteoric rise?
-Is Africa undergoing a stablecoin breakout?

A 🧵 Image
We know the limitations of daily active addresses, so we are taking a deep dive into @Celo stablecoin transaction volumes.

-Transfer sizes across all buckets are growing, indicating its not addresses spamming the network making very small transactions Image
Stablecoin supply on @Celo has grown significantly in the past year as well... Image
Read 6 tweets
Artemis Profile picture
Sep 12, 2024
We are thrilled to power the onchain insights of "Stablecoins: The Emerging Market Story." Working closely with @Visa and @CastleIslandVC we highlighted:

-A new "adjusted" transfer volume metric
-Stablecoin vs overall crypto growth
-Dollar dominance of stablecoins Image
As shown above, today, stablecoins are responsible for between 70 and 80 percent of all value settled on public blockchains.
Stablecoin usage continues to break ATHs and has decoupled from the crypto market

-While trading ebbs and flows, stablecoin monthly active users has consistently increased Image
Read 7 tweets
Artemis Profile picture
Nov 2, 2023
📢 Exciting news! The Q3 2023 On-Chain Report is here.

In collaboration with @QuickNode, we dove deep into blockchain consumer behavior, developer trends, and venture capital investments.

Get ready for some eye-opening insights! 🧵⬇️ Image
This report gives an overview of blockchain activity:

1. Current usage trends
2. Emerging developer trends
3. Investment landscape by VCs

By centering on developers and end users, we gain insights into building a sustainable Web3 ecosystem. Image
1️⃣ Consumer Trends —Where are users today?

Stablecoins, DeFi, and Social categories standout in blockchain usage.
- Financial applications and value transfer remain dominant, with high user adoption.
- Stablecoins have shown growth, becoming the most popular category in Q3 2023. Image
Read 21 tweets
Artemis Profile picture
Aug 2, 2023
.@SuiNetwork just shattered a groundbreaking record in blockchain history.

Most transactions recorded in a blockchain ever.

Here's the tldr.🧵 Image
1/ To be clear, Artemis counts "transaction blocks" for @SuiNetwork instead of transactions when comparing with Ethereum and other chains.
2/ This remarkable achievement has led to a staggering 65.8 million transactions being recorded in just one day!

From a technical standpoint, this is a great feat for any blockchain to accomplish.
Read 7 tweets
Artemis Profile picture
Mar 17, 2023
Yesterday, we published an airdrop calculator that prices your Arbitrum 🔵 Airdrop based on the fully diluted valuation (FDV) of Optimism 🔴

But is that a fair comparison?

Let's build a comp ✍️ and see what the numbers say 🔢 (NFA) Image
First, let's gather assets in Arbitrum's peer group. A reasonable set of peers include EVM-compatible L1s / L2s:
- AVAX
- BNB
- ETH
- FTM
- OP
- MATIC
- TRON Image
Next, let's pick a key set of metrics that are informative in valuing chains. These often include:
- Daily Active Addresses
- TVL
- DEX Volumes
- Fees

(all of this data can be pulled directly into a spreadsheet using the Artemis Sheet plug-in docs.artemis.xyz/docs/artemis-s…)
Read 6 tweets

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