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
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
Since June 10, Solana stablecoin volume have diminished from $74bn to roughly $7bn a day
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
📢 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! 🧵⬇️
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.
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.
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
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