Aerodrome farming drove 90% of USDC transfers, analyst says
- —$109B of $121B in USDC transfers on Sep. 23 tied to Aerodrome farming
- —One-tick farming drove about 75% of USDC transfer volume since Aerodrome's launch
- —About $12B of the daily total fell outside the activity RyeBlocks identified
- —Aerodrome handled $557.1M in tokenized-stock trades on Base over 30 days
Why it matters: The data shows stablecoin volume metrics are heavily inflated by trading activity and do not reflect actual payments.
Source: crypto.news