Visa’s crypto division, in response to the increasing attention on stablecoins, has launched a new platform called the Visa Onchain Analytics Dashboard. This platform provides users with detailed insights into stablecoin activity, including monthly active users, stablecoin supply, and transaction volume.
The decision to create this analytics dashboard came after Cuy Sheffield, Head of Crypto at Visa, saw a line chart created by crypto enthusiast Nic Carter. Recognizing the need for a comprehensive analytics tool, Visa collaborated with blockchain company Allium Labs to develop the platform.
The Visa executive described the platform as an updated approach to transaction volume. It incorporates a one-way volume filter to eliminate unnecessary smart contract transactions, as well as an inorganic user filter to eliminate bot activity. The user filter only counts volume from addresses that have made fewer than 1,000 transactions and less than $10,000 in the last 30 days.
With the Visa Onchain Analytics Dashboard, users have the flexibility to monitor stablecoin activity at any time. They can access important data such as monthly active users, stablecoin supply, and transaction volume. This includes data for stablecoins like USDC, USDT, PYUSD, and USDP, which are tied to the US dollar and available across multiple blockchains.
Sheffield also acknowledged the challenges associated with stablecoin data, particularly the presence of “lots of noise.” The use of digital assets in various contexts, whether initiated by humans or bots, contributes to this issue.
In other news, the TON Foundation has announced a $600k airdrop for NFT traders and holders.
