{"uuid":"b74e9f8d-3de6-4009-64ce-32202a1e4ba4","categoryUuid":"6c01fa31-d5df-4144-6ff0-aa9dba4b678d","data":{"meta":{"name":"Market: Stablecoin On-chain Activity"},"configs":[{"meta":{"refUuid":"6af11e75-649e-4047-5927-36fb330bd181"},"uuid":"ca7a569c-07eb-44df-9c8f-bf37003a8536","configType":"workbench"},{"meta":{"refUuid":"d7ecc5a6-98d4-4ff7-7ab9-e9c1a44d0d4f"},"uuid":"b63952a8-1175-444d-b11e-151eccced880","configType":"workbench"},{"meta":{"content":"# Active Addresses\n\n---\n\nThis chart compares the count of daily Active Addresses on the Ethereum blockchain interacting with the largest stablecoins USDT 🟢, USDC 🔵, BUSD 🟡, DAI 🟣 and TUSD 🔘.\n\nThe relative magnitude and trend in on-chain activity metrics for a particular asset is often a reasonable gauge of market sentiment and volatility.\n\n- **Higher values and uptrends** often indicate increasing economic activity, and elevated demand for blockspace.\n\n- **Lower values and downtrends** often indicate decreasing economic activity, and a reduced demand for blockspace.\n\n\u003e *Note that a 7-day Exponential Moving Average is applied to smooth out daily noise.*"},"uuid":"72904c82-f7e2-4a5d-b3a7-08f88232221f","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"content":"# Transfer Volumes\n\n---\n\nThis chart compares the daily USD denominated transfer volume of the largest stablecoins USDT 🟢, USDC 🔵, BUSD 🟡, DAI 🟣, TUSD 🔘. The combined aggregate volume is shown in 🔴.\n\nTransfer volumes only consider transactions made on the Ethereum blockchain.\n\n\u003e *Note that a 7-day Exponential Moving Average is applied to smooth out daily noise.*"},"uuid":"d4929c56-8644-4484-8da5-7b76cf545abc","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"refUuid":"c619198b-44de-466e-4caf-f2d03ef77c58"},"uuid":"fa913bed-ce93-4a2e-9c2e-bfb634601200","extra":{"zoom":"Reset"},"configType":"workbench"},{"meta":{"content":"# Addresses with Non-Zero Balances\n\n---\n\nStablecoins have become a dominant sub-class of digital assets, and as such, a greater proportion of wallets now have exposure to them.\n\nThis chart compares the number of Ethereum addresses which hold a non-zero balance in any of the top four stablecoins, USDT, USDC, BUSD, DAI and TUSD. Where an address holds more than one type of stablecoin, it will show up as one count in each trace (i.e. a wallet holding both USDT and USDC will contribute to both traces)."},"uuid":"17907d4b-1902-48c1-bfd0-42507c50d8a9","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"refUuid":"9b0a1ff2-804e-45b8-78a6-a52b1554c896"},"uuid":"d911954c-f8a5-4f0d-bba1-6f14a208281a","configType":"workbench"},{"meta":{"refUuid":"02688863-4f14-486e-5173-b6e4dd4f7691"},"uuid":"4e5c4f1f-dce7-4633-a41e-e3a3b8d31d58","configType":"workbench"},{"meta":{"content":"# Exchange Net Position Change\n\n---\n\nThis chart shows the 30-day net change in supply held on exchanges for the largest stablecoins USDT, USDC, BUSD, DAI, and TUSD. This metric accounts only for stablecoins which are issued and transferred on the Ethereum blockchain.\n\nIt will return a positive value 🟢 when the 30-day aggregate stablecoin supply on exchanges has increased (inflows), and a negative value 🔴 when it decreases (outflows).\n\n\u003e *Note that the exchange inflows/outflows of these stablecoins reflect only those issued on the Ethereum blockchain, and associated with the exchanges we monitor.*"},"uuid":"17d33046-bf9a-4cbc-8073-206afd6b5b5f","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"content":"# Smart Contract Net Position Change\n\n---\n\nThis chart shows the 30-day net change in supply issued on the Ethereum blockchain, and held in smart contracts for the largest stablecoins USDT, USDC, BUSD, DAI, TUSD.\n\nIt will return a positive value 🟢 when the 30-day aggregate stablecoin supply in smart contracts has increased (inflows), and a negative value 🔴 when it decreases (outflows).\n\n\u003e *Note that smart contract inflows/outflows of these stablecoins reflect only those issued on the Ethereum blockchain.*"},"uuid":"c9d74d9c-b962-4e5e-89a8-e99326e14b43","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"refUuid":"33688134-161e-478c-68ca-9e86c0eed265"},"uuid":"a503f752-d6aa-4aa6-94cd-04b3c904e3f6","configType":"workbench"},{"meta":{"content":"# Transfer Counts\n\n---\n\nWe can compare the number of transactions made which move stablecoin value around the Ethereum network to assess trends in economic activity.\n\n- **Higher values and uptrends** indicate an elevated degree of economic activity, and rising demand for moving USD denominated value on the Ethereum network.\n\n- **Lower values and downtrends** indicate a decreasing degree of economic activity, and declining demand for moving USD denominated value on the Ethereum network.\n\n\u003e *Note that a 7-day Exponential Moving Average is applied to smooth out daily noise.*\n\n---\n\n# Breakdown by Transaction Count\n\nThe charts below breakdown stablecoin transactions on Ethereum by specific stablecoin ERC-20 tokens. We include over 150+ stablecoins in this category, with USDT, USDC, BUSD, and DAI being the most prominent ones.\n\n- **Absolute (left)** shows the raw count of transactions associated with each stablecoin token.\n\n- **Relative (left)** shows the transaction dominance associated with each stablecoin token."},"uuid":"906c1483-a500-4148-b47a-dbefd4da27da","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"asset":"ETH","miner":"aggregated","mathFn":{"name":"sma","value":"7"},"currency":"native","exchange":"aggregated","exchangeTo":"aggregated","metricCode":"transactions.TransfersCountStablecoins","resolution":"24h","exchangeFrom":"aggregated","movingMedian":0,"movingAverage":"7","expMovingAverage":0},"uuid":"044846d7-acb0-4801-88b4-a56b922a4db1","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"asset":"ETH","miner":"aggregated","mathFn":{"name":"sma","value":"7"},"currency":"native","exchange":"aggregated","exchangeTo":"aggregated","metricCode":"transactions.TransfersCountStablecoinsRelative","resolution":"24h","exchangeFrom":"aggregated","movingMedian":0,"movingAverage":"7","expMovingAverage":0},"uuid":"c29df3d4-eef6-4e65-8f0f-4159c2462335","extra":{"price":true,"scale":"lin","lineColor":"#627eea","chartStyle":"line"},"configType":"metric"},{"meta":{"content":"### Disclaimer\n\n---\n\n*This dashboard and associated content does not provide any investment advice. All data is provided for information purposes only. No investment decision shall be based on the information provided here and you are solely responsible for your own investment decisions. For for details, please refer to our [Terms and Conditions](https://studio.glassnode.com/terms-and-conditions).*"},"uuid":"94e31ecd-4213-47c0-b96f-63fff05f88a4","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"refUuid":"7ff3eabf-7f84-42cb-7b1a-8b899230df66"},"uuid":"93543e4b-9b7b-46b5-a974-bc17c5ef0608","configType":"workbench"},{"meta":{"refUuid":"21c74647-eeae-414d-6980-8fca69d7f69a"},"uuid":"8d44889d-811d-4861-8bfe-730e126adc57","configType":"workbench"},{"meta":{"content":"# Supply in Smart Contracts\n\n---\n\nThis chart shows total supply held within Ethereum smart contracts. This charts plots the following traces:\n\n- Aggregate supply held in smart contracts 🔴\n- USDT 🟢\n- USDC 🔵\n- BUSD 🟡\n- DAI 🟣\n- TUSD 🔘\n\n\n\u003e *Note that smart contract inflows/outflows of these stablecoins reflect only those issued on the Ethereum blockchain.*\n\n---\n\nThe chart below presents this view however as a percentage of the circulating supply of each stablecoin."},"uuid":"f3eeb098-8759-48a0-9ccc-c9b7f9dbcf44","extra":{"backgroundColor":"#ffffff"},"configType":"content"},{"meta":{"refUuid":"b1850b8c-cf4b-44cd-63e2-70428810e7d4"},"uuid":"b2609c61-d9a2-4302-af27-38f7aee3cfc8","configType":"workbench"},{"meta":{"refUuid":"1ecd0cb5-de63-43a2-559e-72251465b3c8"},"uuid":"dc2cfcdc-835f-4042-8b0e-59d95f04b099","extra":{"zoom":"2y"},"configType":"workbench"},{"meta":{"refUuid":"70fc034a-3aab-4b07-5613-b172f6bee07a"},"uuid":"1fd83e5a-23b8-4e25-ba0f-5f1713f6552d","configType":"workbench"},{"meta":{"refUuid":"b6ef0247-8aa4-4bae-406a-a435d0c48f4e"},"uuid":"9d7d95e6-1f01-4dc0-897b-21d5538f30a4","extra":{"zoom":"2y"},"configType":"workbench"},{"meta":{"refUuid":"aea553e0-72e6-472a-53ba-41ae3e76e168"},"uuid":"40b4e172-f7ca-43c8-8d7b-dff25894e114","extra":{"zoom":"2y"},"configType":"workbench"},{"meta":{"refUuid":"e1ee0f26-155e-45bc-7ab7-01556e68b878"},"uuid":"7699dda5-f324-41d0-8c16-03a9de1545f5","configType":"workbench"}],"layouts":[{"h":8,"i":"ca7a569c-07eb-44df-9c8f-bf37003a8536","w":8,"x":4,"y":0,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"b63952a8-1175-444d-b11e-151eccced880","w":8,"x":4,"y":38,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"72904c82-f7e2-4a5d-b3a7-08f88232221f","w":4,"x":0,"y":0,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"d4929c56-8644-4484-8da5-7b76cf545abc","w":4,"x":0,"y":38,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"fa913bed-ce93-4a2e-9c2e-bfb634601200","w":8,"x":4,"y":14,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"17907d4b-1902-48c1-bfd0-42507c50d8a9","w":4,"x":0,"y":14,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"d911954c-f8a5-4f0d-bba1-6f14a208281a","w":8,"x":4,"y":60,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"4e5c4f1f-dce7-4633-a41e-e3a3b8d31d58","w":8,"x":4,"y":84,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"17d33046-bf9a-4cbc-8073-206afd6b5b5f","w":4,"x":0,"y":60,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"c9d74d9c-b962-4e5e-89a8-e99326e14b43","w":4,"x":0,"y":84,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"a503f752-d6aa-4aa6-94cd-04b3c904e3f6","w":8,"x":4,"y":22,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"906c1483-a500-4148-b47a-dbefd4da27da","w":4,"x":0,"y":22,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"044846d7-acb0-4801-88b4-a56b922a4db1","w":6,"x":0,"y":30,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"c29df3d4-eef6-4e65-8f0f-4159c2462335","w":6,"x":6,"y":30,"minH":1,"minW":3,"moved":false,"static":false},{"h":2,"i":"94e31ecd-4213-47c0-b96f-63fff05f88a4","w":12,"x":0,"y":106,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"93543e4b-9b7b-46b5-a974-bc17c5ef0608","w":8,"x":4,"y":68,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"8d44889d-811d-4861-8bfe-730e126adc57","w":12,"x":0,"y":76,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"f3eeb098-8759-48a0-9ccc-c9b7f9dbcf44","w":4,"x":0,"y":68,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"b2609c61-d9a2-4302-af27-38f7aee3cfc8","w":12,"x":0,"y":8,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"dc2cfcdc-835f-4042-8b0e-59d95f04b099","w":12,"x":0,"y":100,"minH":1,"minW":3,"moved":false,"static":false},{"h":6,"i":"1fd83e5a-23b8-4e25-ba0f-5f1713f6552d","w":12,"x":0,"y":46,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"9d7d95e6-1f01-4dc0-897b-21d5538f30a4","w":6,"x":0,"y":52,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"40b4e172-f7ca-43c8-8d7b-dff25894e114","w":6,"x":6,"y":52,"minH":1,"minW":3,"moved":false,"static":false},{"h":8,"i":"7699dda5-f324-41d0-8c16-03a9de1545f5","w":12,"x":0,"y":92,"minH":1,"minW":3,"moved":false,"static":false}]}}