Today, Visa unveiled a new stablecoin analytics website in partnership with Allium Labs. In a blog post, Cuy Sheffield, Visa’s head of crypto, explained why the analytics were published. He demonstrated a frequently circulated graphic showing that stablecoin volumes have surpassed PayPal and are almost up to sVisa’s transaction levels.
However, Sheffield argues there’s a lot of noise in the data from bots. These bots perform necessary crypto activities like arbitrage, liquidity provision and market making. However, these are not conventional settlement transactions, so it compares apples with oranges.
Removing bot activity reduces 30 day transaction volumes from $2.65 trillion to $265 billion. However, active stablecoin users have risen steadily to 27.5 million.
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