Visa Launches Onchain Analytics Dashboard, Shedding Light on Stablecoin Landscape

The Visa Onchain Analytics dashboard, a public window into blockchain data, offers insights into stablecoin activity. Despite social media claims of stablecoin volume surpassing major settlement networks, the dashboard reveals nuances, showing growing stablecoin supply, active user counts, and a significant discrepancy between total and bot-adjusted transfer volume, the latter highlighting potential inorganic activity and providing a more accurate view of real-world usage.

Visa Unveils Onchain Analytics Dashboard for Stablecoin Insight

Visa, the global payments technology company, has introduced the Visa Onchain Analytics dashboard, a comprehensive resource designed to provide accessible and objective insights into the rapidly evolving stablecoin landscape.

Transparency and Accessibility

The dashboard is a freely available platform that aggregates publicly available blockchain data, starting with stablecoins. By presenting this data in an intuitive manner, Visa aims to empower users with a deeper understanding of stablecoin activity and its implications for the financial ecosystem.

Data-Driven Insights

Visa's head of crypto, Cuy Sheffield, emphasizes the value of the dashboard by citing a widely circulated social media graph comparing the annual transaction volumes of major settlement networks to stablecoin volumes. While the graph suggests that stablecoins are eclipsing other networks, Sheffield cautions that "there is a lot of ambiguity in this data," as blockchains are used for a diverse range of applications.

A More Nuanced Picture

The Visa dashboard provides a more granular view of stablecoin activity, revealing several key trends:

1. Surging Stablecoin Supply: Stablecoin circulation is approaching an all-time high, currently hovering near $150 billion.
2. Growing User Base: Monthly active stablecoin users have steadily increased, reaching approximately 27.5 million across all blockchain networks.
3. Bot-Adjusted Transfer Volume: A substantial disparity exists between total transfer volume and bot-adjusted transfer volume. When inorganic data is removed, transfer volume for the past 30 days is significantly reduced, from $2.65 trillion to $265 billion.

Implications for the Future

The Visa Onchain Analytics dashboard offers valuable insights for stakeholders in the financial industry, including investors, analysts, and policymakers. By providing a more comprehensive understanding of stablecoin usage and trends, the dashboard supports informed decision-making and fosters a greater understanding of the evolving digital asset landscape.

Commitment to Transparency

Visa's initiative underscores its commitment to promoting transparency and accessibility in the cryptocurrency space. The dashboard is a tangible demonstration of the company's belief that data-driven insights empower innovation and responsible adoption of digital assets.