Less than 10% of Stablecoin Transaction Volume Consists of Real Users.
According to new findings from Visa and data platform Allium Labs, less than 10% of stablecoin transaction volumes are organic, that is, real people.
The report stated that only $49 billion of the approximately $2.2 trillion in transactions recorded in April were realized through "organic payment activities." The analysis excludes bots and traders executing high-volume trades in order to "detect trades made by real people."
Broker firm Bernstein reported that the stablecoin market supply currently stands at approximately $150 billion, with #Tether (USDT) and #USD Coin (USDC) dominating the market with shares of 75% and 22% respectively.
The note containing the findings of Visa's crypto head Cuy Sheffield included the following statements:
“Use scenarios where blockchains facilitate transactions that can be initiated by the end user manually or through automated bots take up a large amount of space in the data.”
According to the analysis, despite the difference between the total transfer volume and the bot-derived transfer volume, the number of stablecoin users increased steadily, reaching 27.5 million monthly active users.
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