Lars Profile picture
Research Director @TheBlock__
3 subscribers
Sep 1, 2023 13 tweets 4 min read
1/13 August summary 🧵

Most metrics corrected further.

Total adjusted on-chain volume decreased by 6.3% to $176B (BTC: -6.7%, ETH -5.7%): Image 2/13 Adjusted on-chain volume of stablecoins increased by 6.8% to $520.9B; Issued supply contracted by 2.2% to $115.1B, with USDT up to 77.2% and USDC up to 21.1% respective market share: Image
Aug 1, 2023 13 tweets 4 min read
1/13 July summary 🧵

Most metrics corrected strongly.

Total adjusted on-chain volume decreased by 16.9% to $188B (BTC: -13.1%, ETH -21.9%): Image 2/13 Adjusted on-chain volume of stablecoins decreased by 12.3% to $487.8B; Issued supply contracted by 1% to $117.7B, with USDT up to 71.5% and USDC down to 20.9% respective market share: Image
Jun 1, 2023 13 tweets 4 min read
1/13 May summary 🧵

Overall a mostly corrective month.

Total adjusted on-chain volume decreased by 5.3% to $196B (BTC: -13.3%, ETH +3.2%): Image 2/13 Adjusted on-chain volume of stablecoins decreased by 4.2% to $464.6B; Issued supply contracted by 1.4% to $122.4B, with USDT up to 68.2%, and a new ATH supply at $83.5B, and USDC down to 22.2% respective market share: Image
May 1, 2023 13 tweets 4 min read
1/13 April summary 🧵

Overall a corrective month.

Total adjusted on-chain volume decreased by 15.1% to $207B (BTC: -14.4%, ETH -15.2%): Image 2/13 Adjusted on-chain volume of stablecoins decreased by 41.1% to $484.8B; Issued supply contracted by 1.1% to $124.1B, with USDT up to 65.7% and USDC down to 23.3% respective market share: Image
Mar 1, 2023 13 tweets 4 min read
1/13 February summary 🧵

Overall a mixed month.

Total adjusted on-chain volume decreased by 0.7% to $164B (BTC: -4.3%, ETH +4.2%): 2/13 Adjusted on-chain volume of stablecoins decreased by 17.6% to $558.1B; Issued supply further contracted by 3.2% to $128.4B, with USDT up to 55.7% and USDC up to 31% respective market share. $5.6B BUSD were redeemed as Paxos received a cease notice for BUSD from the NYDSF:
Feb 1, 2023 13 tweets 4 min read
1/13 January summary 🧵

Most metrics rebounded strongly.

Total adjusted on-chain volume increased by 14.6% to $165B (BTC: +8.1%, ETH +24.1%): 2/13 Adjusted on-chain volume of stablecoins increased by 1.7% to $677.2B; Issued supply further contracted by 1.9% to $132.7B, with USDT up to 53.1% and USDC down to 29.5% respective market share:
Jan 2, 2023 13 tweets 4 min read
1/13 December summary 🧵

The fallout from the FTX and Alameda Research collapse continued to dominate.

Total adjusted on-chain volume decreased by 44.6% to $144B (BTC: -41.1%, ETH -49.6%): 2/13 Adjusted on-chain volume of stablecoins decreased by 27.5% to $665.9B; Issued supply contracted by 3% to $135.3B, with USDT up to 52.1% and USDC up to 30.7% respective market share:
Dec 1, 2022 13 tweets 4 min read
1/13 November summary 🧵

The FTX and Alameda Research collapse dominated the month and led to an industry wide de-risking and a strong renewed push to towards self-custody.

Total adjusted on-chain volume increased by 9.9% to $260B (BTC: -13.1%, ETH +66.7%): 2/13 Adjusted on-chain volume of stablecoins increased by 58.3% to a new ATH of $918.6B; Issued supply expanded by 1.8% to $139.5B, with USDT down to 50.5% and USDC up to 28.7% respective market share. Issued supply is down 2.7% YTD:
Nov 1, 2022 13 tweets 4 min read
1/13 October summary 🧵

Overall a mixed month marked by positive price action but negative fundamentals.

Total adjusted on-chain volume decreased by 35.1% to $237B (BTC: -28.5%, ETH -46.9%): Image 2/13 Adjusted on-chain volume of stablecoins decreased by 24.2% to $580.4B, USDC > USDT for the 3rd month; Issued supply expanded slightly by 0.3% to $137.1B, with USDT up to 50.7% and USDC down to 28.5% respective market share. Issued supply is down 4.3% YTD: Image
Oct 1, 2022 13 tweets 4 min read
1/13 September summary 🧵

Overall a mixed month marked by the events around the successful ETH Merge.

Total adjusted on-chain volume decreased by 8.4% to $365B (BTC: -21.5%, ETH +31.2%): 2/13 Adjusted on-chain volume of stablecoins decreased by 11.6% to $765.6B, USDC > USDT for the 2nd month; Issued supply contracted slightly by 0.4% to $136.7B, with USDT up to 49.4% and USDC down to 29.7% respective market share. Issued supply is down 4.6% YTD:
Sep 1, 2022 13 tweets 4 min read
1/13 August summary 🧵

Overall a mixed month marked by the events surrounding Tornado Cash and the anticipation of the imminent ETH Merge.

Total adjusted on-chain volume decreased by 4.2% to $398B (BTC: -5.5%, ETH flat): 2/13 Adjusted on-chain volume of stablecoins increased by 32.9% to a new ATH of $866.2B, USDC > USDT for the 1st time; Issued supply grew slightly by 0.2% to $137.4B, with USDT up to 48.5% and USDC down to 31.7% respective market share. Issued supply is down 4.2% YTD:
Aug 1, 2022 13 tweets 4 min read
1/13 July summary 🧵

Overall a mixed month marked by the ripples of the 3AC collapse and the anticipation of the ETH Merge.

Total adjusted on-chain volume decreased by 16.5% to $416B (BTC: -14.6%, ETH: -21.9%): 2/13 Adjusted on-chain volume of stablecoins decreased by 7.6% to $655.2B; Issued supply further contracted by 0.7% to $137.1B, with USDT staying flat at 47.8% and USDC decreasing to 33.2% respective market share. Issued supply is down 4.3% YTD:
Jul 1, 2022 13 tweets 4 min read
1/13 June summary 🧵

Overall a very bearish month marked by the events surrounding 3AC.

Another highlight: FTX spot > Coinbase spot for the 2nd consecutive month.

Total adjusted on-chain volume decreased by 36.3% to $498B (BTC: -36.4%, ETH: -36.2%): Image 2/13 Adjusted on-chain volume of stablecoins decreased by 12.3% to $708.8B; Issued supply further contracted by 7.5% to $138.1B, with USDT decreasing to 47.8% and USDC increasing to 34.1% respective market share. Issued supply is down 3.6% YTD: Image
Jun 1, 2022 13 tweets 4 min read
1/13 May summary 🧵

Overall a mixed month marked by the Otherside land NFT sale and the LUNA/UST collapse.

Total adjusted on-chain volume decreased by 5.9% to $782B (BTC: -11%, ETH: +13.1%): 2/13 Adjusted on-chain volume of stablecoins increased significantly by 69.5% to a new ATH of $808.4B; largely due to the LUNA/UST collapse (issued supply further contracted by 3.3% to $149.3B; with USDT decreasing to 51.7% and USDC increasing to 30.8% respective market share):
May 2, 2022 13 tweets 4 min read
1/13 April summary 🧵

Overall a mixed month. Total adjusted on-chain volume increased by 40% to $831B (BTC: +55.8%, ETH: +1.6%): 2/13 Adjusted on-chain volume of stablecoins decreased by 6.8% to $477B (issued supply contracted, for the first time since Jan 2020, by 1.9% to $154.4B; with USDT increasing to 53.9% and USDC decreasing to 28.2% respective market share):
Apr 1, 2022 13 tweets 4 min read
1/13 March summary 🧵

Most metrics rebounded due to a strong final week of the month.

Total adjusted on-chain volume increased by 0.9% to $594B: 2/13 Adjusted on-chain volume of stablecoins increased by 23% to $511.9B (issued supply hit a new ATH of $157.4B; with USDT increasing to 52.9% and USDC decreasing to 29.3% respective market share):
Mar 1, 2022 14 tweets 4 min read
1/14 February summary 🧵

Most metrics continued to decline.

Total adjusted on-chain volume decreased by 6% to $589B: 2/14 Adjusted on-chain volume of stablecoins decreased by 23.1% to $416.2B (issued supply hit a new ATH of $157.1B; with USDT decreasing to 51% and USDC increasing to 30.6% respective market share):
Feb 1, 2022 14 tweets 4 min read
1/14 January summary 🧵

Most metrics continued to decline.

Total adjusted on-chain volume decreased by 20.3% to $626B: 2/14 Adjusted on-chain volume of stablecoins decreased by 32.8% to $541B (issued supply hit a new ATH of $149.2B; with USDT decreasing to 52.3% and USDC increasing to 30.2% respective market share):
Jan 3, 2022 14 tweets 5 min read
1/14 December summary 🧵

Most metrics are down.

Total adjusted on-chain volume decreased by 13.2% to $785B: Image 2/14 Adjusted on-chain volume of stablecoins increased by 30.4% to a new ATH of $805B due to one Instadapp user experimenting with $500M DAI flash mints (issued supply hit a new ATH of $143.3B; with USDT increasing to 56.2% and USDC decreasing to 26% respective market share): Image
Dec 1, 2021 13 tweets 4 min read
1/12 November summary 🧵

Most Bitcoin metrics ⬇️, while most Ethereum metrics ⬆️.

Total adjusted on-chain volume increased by 5.6% to $904B: 2/12 Adjusted on-chain volume of stablecoins increased by 14% to $617.5B (issued supply hit a new ATH of $139.8B; with USDT declining to 55.2% and USDC increasing to 27.6% respective market share):
Nov 1, 2021 13 tweets 4 min read
1/12 October summary 👇

Most metrics increased strongly.

Total adjusted on-chain volume increased by 24% to $856: 2/12 Adjusted on-chain volume of stablecoins increased by 12.3% to $541.4B (issued supply hit a new ATH of $124.2B; with USDT declining to 57.3% and USDC increasing to 24.3% respective market share):