Data

One way to look at "usage" of stablecoins is to look at the Turnover Ratio; Transfer value/Total Supply 🪙

Looking at the Stablecoins on @base, we can see that some of the stablecoins with a relative small supply have a high Turnover Ratio like USDT,  USDbC and USD+. 

Top 5 by Turnover Ratio this week:
1️⃣ USDT 10.9   
2️⃣ USDbC 6.6   
3️⃣ USD+ 6.4   
4️⃣ USDC 4.7   
5️⃣ DAI 4.0

Also included a Turnover ratio for DEX trading 💱

This gives an indication how much stablecoins are used for trading on @base relative to the supply. 

Below the Top 5 Turnover DEX ratio of past week, compared to the overall transfer value ratio:

1️⃣ USDT 12.2 ➡️15.7
2️⃣ USD+ 4.1 ➡️ 8.2
3️⃣ USDbC 3.1➡️8.0
4️⃣ DAI 2.2➡️5.8
5️⃣ USDC 0.73➡️ 6.4

It is expected for the values to drop because we filter to a specific action, but the difference for USDC stands out, indicating it is used more for other actions then trading on @base 

🔗 https://dune.com/Marcov/base-stablecoin-overview