Solana: Jupiter Stablecoin Popularity

Using the below dashboard, we can see a comparison of USDC, USDT, and UST (wormhole) popularity in swaps on Jupiter since December 1st (both in terms of amount and count – swaps from and swaps to). As well, you can see if there are any dominant stablecoins used in Jupiter swaps. Additionally, what proportion of stablecoins are used in Jupiter swaps?

What is Jupiter?

In addition to Jupiter being the first on-chain swap aggregator, Jupiter is a key liquidity aggregator for Solana, offering the most tokens and the best routes between any token pair. In addition to providing the best rates, Jupiter’s main objective is to deliver the best swapping experience for all users and developers across the entire DeFi ecosystem. Because of the high transaction speed of Solana, swap aggregation actually works extremely well.

The tweet regarding Jupiter can be found below.

https://twitter.com/JupiterExchange/status/1448306201444306946?s=20&t=neRqbw_T06EHfC8yHFJLAA
According to the analysis of the data,
  • From the 3 Token Names( USD Coin, USDT and UST), USD Coin contributed the highest percentage (73.84%) to total swapped away amounts.
  • We can see from the below analysis of the data that 89.6 percent of all Jupiter swaps are stablecoin swaps (like a USDC, USDT, and UST swap).
  • Over time, we can observe more instances of users swapping USDC for UST based on the following data.

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