Visa Highlights ‘Noise’ in Stablecoin Data: Implications for Bitcoin (BTC) and Ethereum (ETH)
13d ago•
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- Visa has developed an Onchain Analytics Dashboard for accurate analysis of stablecoin growth, according to Cuy Sheffield, Head of Crypto at Visa.
- Sheffield believes that there is a lot of misleading data regarding stablecoins, and Visa’s solution aims to provide clarity.
- Three key trends have been identified by Visa’s new solution, including an all-time high in stablecoin supply, steady growth in active users, and discrepancies in transfer volumes.
Visa has developed an innovative solution for accurate stablecoin analysis, revealing key trends and insights into the growing stablecoin market.
Visa’s Onchain Analytics Dashboard: A New Solution for Stablecoin Analysis
Visa’s Head of Crypto, Cuy Sheffield, recently announced the creation of an Onchain Analytics Dashboard. This tool aims to provide accurate and reliable information about the growth of stablecoins, a sector of the crypto market that has been plagued with misleading data. The dashboard is designed to be an easily digestible, freely available window into publicly available aggregated blockchain data, starting with stablecoins.
Addressing the Noise in Stablecoin Data
Sheffield highlighted the issue of misleading data in the stablecoin market, noting that many statistics show stablecoins catching up with established settlement networks in transaction volumes. However, he believes that this data is often skewed by automated bot programs that perform activities such as stablecoin arbitrage, liquidity provision, and market making. These activities result in onchain transactions that do not resemble traditional settlement. Visa’s new dashboard aims to eliminate this noise, providing a clearer picture of stablecoin growth.
