Looking at specific transaction types on Dec. 9, CryptoSlate analysts revealed big moves in stablecoin and ERC20 trading.
This category includes all transactions that initiate ERC20 contracts, except contracts in the Stablecoins category. The chart below represents these trading volumes in purple areas.
The data shows a visible spike in the number of ERC20 transactions on December 9th, indicating a new ATH for this category. The previous ATH level was recorded in early August and was just over 20%.
The term stablecoin refers to a fungible token whose value is fixed to off-chain assets, either by the issuer or by an algorithm. This category includes over 150 stablecoins, with Tether (USDT), USD Coin (USDC), Terra Classic (UST), Binance USD (BUSD) and DAI (DAI) being the most prominent.
The graph above reflects the size of stablecoin transactions to and from ETH addresses. No new ATH was recorded, but the number of stablecoin transactions spiked on a particular day. His ATH in this category was recorded in his late May.
This category includes all other transactions on the ETH network that are not included in any of the above categories.
The chart below visualizes the number of other trades in the pink area since the beginning of the year.
After a significant drop in mid-October, trading volume in this category began to rise steadily with some volatility. Volume in this category also saw him hit a new ATH at just over 52% in early December.