Visa has launched the “Onchain Analytics Dashboard” in collaboration with Allium Labs. The platform is designed to simplify the understanding of stablecoin activity and reduce “noise” in the data.
The dashboard provides clear, accessible insights into stablecoin transactions across various blockchains, offering detailed information on active users, transaction volumes, and sizes among other metrics.
Simplifying Stablecoin Data
The Onchain Analytics Dashboard is aimed at becoming a pivotal resource for those interested in stablecoin metrics. It filters out the excess noise associated with raw blockchain data, providing a more digestible and straightforward view of the underlying trends and shifts within the stablecoin market. Cuy Sheffield, Head of Crypto at Visa, stated:
There’s a lot of noise around stablecoin data. We wanted to create a solution that makes this data more accessible and understandable.
Sheffield has already noted several significant trends using the dashboard. One key observation is the steady growth of monthly active stablecoin users, with current figures showing 27.5 million monthly users across all chains.
Despite the general transparency of blockchain transactions, the dashboard helps highlight the difference between total transfer volumes and bot-adjusted volumes, offering a clearer picture of human versus automated transaction activity.
Looking forward, Visa is open to feedback, inviting users to contribute ideas that could improve its functionality and usefulness. This proactive approach not only helps refine the tool but also encourages community engagement to ensure it meets the needs of a broad spectrum of users.
