Visa Launches Onchain Analytics Dashboard for Monitoring Stablecoins
- The new platform was outlined as an updated approach to stablecoin transaction volume.
- Users will be able to see the monthly active users, stablecoin supply, and transaction volume.
As a result of all the recent buzz around stablecoins, Visas crypto division has released a new platform called the Visa Onchain Analytics Dashboard.
It was after seeing a line chart made by well-known crypto enthusiast Nic Carter that Cuy Sheffield, Head of Crypto at Visa, decided to develop the firms stablecoin analytics dashboard, as he revealed on X. The payment processing company Visa and the blockchain company Allium Labs worked together to create their new platform.
Comprehensive Statistics
Moreover, the new platform was outlined by the Visa executive as an updated approach to transaction volume. It integrates a one-way volume filter that eliminates unnecessary smart contract transactions with an inorganic user filter that attempts to eliminate bot activity by only counting volume from addresses that have made less than 1,000 transactions and less than $10,000 in the last 30 days.
Users may keep tabs on stablecoin activity whenever it suits them with the aid of this dashboard. Among the important information that users will be able to see are the monthly active users, stablecoin supply, and transaction volume. Around the same time, data for USDC, USDT, PYUSD, and USDP, which are stablecoins tied to the US dollar, is accessible across five Layer-1 blockchains and four Layer-2 blockchains.
Also, Sheffield claims that Visa has recognized a number of issues with stablecoin, the most notable of which being the presence of lots of noise in the data. The usage of digital assets in many contexts, he said, with transactions started either by humans or by bots programmatically, poses this problem.
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Read more: https://thenewscrypto.com/visa-launches-onchain-analytics-dashboard-for-stablecoins-monitoring/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
