@tommycet
Analytics report on stablecoin usage:
• New research analyzes Ethereum stablecoin activity (USDC & USDT) from Aug 2024 to Aug 2025
• Total transaction volume and counts doubled year-over-year
• Payments (wallet-to-wallet) vs. DeFi (smart contracts) split roughly 50/50 by transaction count
• DeFi interactions dominate total volume at 53.2%
• Peer-to-peer (P2P) transfers make up 67% of payment counts but only 24% of payment volume
• Usage is highly centralized with the top 1,000 wallets driving ~84% of volume
• A significant portion of volume comes from internal transfers within the same organization
• Spike in tiny transactions (<$0.10) suggests potential bot activity or wash trading 📉
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