So far, nearly $2.2 billion worth of stablecoins have been transferred using @squidrouter, powered by @axelar.
By total volume and transaction count, @osmosiszone has been the top destination.
Let’s dive in 👇
Before continuing with the thread, you can read the details at the link below👇:
Squid is one of the most widely used cross-chain routers, powered by Axelar.
It enables seamless swaps and transfers across 70+ chains, including EVM, Cosmos, and more, in a single click.
This thread focuses on stablecoin transfers and swaps using Squid Router.
Different types of stablecoins exist across various chains, including EVM, Cosmos, and others.
Squid makes it easy to move them across ecosystems with a single transaction.
So far, nearly 1.4 million transactions have been recorded by Squid Router for stablecoin transfers or swaps, involving 464.4K unique receivers.
In recent weeks, weekly transactions have averaged between 5K and 10K.
So far, nearly $2.2 billion worth of stablecoins has been swapped or transferred using Squid Router.
On average, weekly stablecoin volume has ranged between $10 million and $30 million.
Based on total volume, Osmosis has been the top destination for stablecoins with $381 million. BSC and Ethereum followed next.
By number of transactions, the top destinations were Polygon, Osmosis, and Arbitrum.
Which routes had the highest stablecoin volume?
The top routes were Ethereum to Osmosis, Ethereum to BSC, and BSC to Ethereum.
Together, these three routes have accounted for $518 million in volume.
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