Peter Schroeder
@peterschroederr
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Following
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Doing marketing at @Circle for USDC | occasionally writing at @theapieconomy | everything onchain
Joined December 2017
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Pinned Tweet
Banks are closed today.
USDC is available 24/7/365 and has processed $12.83B in transaction volume over the past 24 hours.
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A couple of years ago, a piece written
@Accel
titled ‘APIs are the next big SaaS wave’ got me excited.
They talked about exciting API companies with promising futures which have grown to become some of the biggest in tech.
Here’s just how far those companies have come…
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There are now over 13 million monthly active addresses on
@base
.
At the beginning of the year, there were less than 1 million active addresses on the network.
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Total stablecoin supply has grown to over $160b for the first time in 2+ years and is approaching all time highs.
What a time to be onchain.
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The past two days,
@base
has exceeded $5B in daily USDC transfer volume (both record days on Base).
This happened on two days where banks in the US were closed for a holiday and blockchains were running 24/7.
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Compare this to sending USDC…
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Ethereum stablecoin volume over the past 45 days was nearly $1.5T.
Ethereum stablecoin volume is at a record $1.46 trillion as DeFi demand surges. 👀
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I don’t think people have fully realized the transformative efficiencies micropayment with USDC on
@base
can unlock.
• No longer having fixed transaction costs make it practical to facilitate payments any time & for any amount.
• No borders or transaction minimums allow
blockchains make micropayments a reality
example: on sunday,
@base
facilitated ~365k onchain payments for an avg transaction fee of $0.008
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This week was the first week
@AerodromeFi
led the
@base
ecosystem in USDC transfer volume.
Aerodrome is taking off. 🚀
Volume is Taking Off 🛫
From epochs 0 to 33, cumulative volume hit $2.75B. In epoch 49 alone, it reached $3B.
Slipstream has been the catalyst, becoming the leading CL implementation on
@base
in just 3.5 months. Slipstream makes Aerodrome more efficient.
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Another day, another all time high for USDC transfer volume on
@base
.
Can’t stop, won’t stop.
The past two days,
@base
has exceeded $5B in daily USDC transfer volume (both record days on Base).
This happened on two days where banks in the US were closed for a holiday and blockchains were running 24/7.
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There are now over 1 million daily active addresses on
@base
.
It only took a little over a year to reach the milestone.
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In 6 years, stablecoins have become one of the biggest settlement networks in the world.
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Today, USDC surpassed $16 trillion in all time volume.
If you had 16 trillion physical dollar bills stacked up, you could go to the moon and back 2.27 times.
Luckily for us, digital dollars are much more efficient & practical.
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Years from now, people will study
@base
as one of the greatest product launches ever. Just a year after launching:
• Base is pacing in August to exceed $100b in USDC transfer volume.
• The ecosystem is seeing significant growth on
@Uniswap
,
@AerodromeFi
, and
@MoonwellDeFi
.
‘
@Base
is dominating the L2 space with over 11M monthly active users
They launched just over a year ago
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Yesterday, stablecoins experienced the highest number of single day transfers of all time.
USDC alone saw:
• $36b in volume
• $822m minted
• $380m redeemed
Stablecoin stress test = passed.
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In the past year alone,
@AerodromeFi
has processed $12B+ in USDC transfer volume on
@base
.
It’s no surprise to see them reach $1B total TVL so quickly.
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I am once again here to tell you that USDC transfer volume on
@base
set a new record yesterday after processing over 12.7B in USDC volume.
Base has now handled more USDC transfer volume than any other chain for the past 10 consecutive days.
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We’re not even halfway through September and
@base
has processed nearly as much USDC transfer volume as it did in August (which was a record month).
For 3 days this month,
@base
has led all chain in USDC transfer volume for the first time ever.
We’re entering the golden age of money movement.
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I had to try this myself.
Paying for a cappuccino from
@BlissCoffeeCafe
with
@solana
SPL USDC - straight from my
@phantom
wallet.
Feels like the future 🚀
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The median transaction cost to send USDC on
@base
is $0.002 today.
The technology works really really well.
Now we just need to let the world know.
Base casually reaching over 1 Million Daily Active Addresses.
Meanwhile, Median Transaction Costs are $0.002 on
@base
Probably nothing...
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Former NBA player
@SDinwiddie_25
did a demo on CNBC showing how you can send USDC on
@CalaxyApp
.
Crypto just got so much cooler.
Sending crypto is as easy as sending a text message...
Co-Founders
@SoloCeesay
&
@SDinwiddie_25
preview the latest Calaxy update for
@TaliaKaplan
and
@CNBC
!
Introducing DMs with super powers. ✉️ 🦸
#BuiltOnHedera
#YourWorldYourCalaxy
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@AlgoFamily
@circle
@Algorand
@marcvl
Yes, we’ll get these updated in one of our upcoming reports. We’ve all come a long way and we’re excited to run all these tests again.
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Aerodrome has processed nearly $10b in USDC volume on
@base
in the past 12 months.
A DEX revolution is underway.
Aerodrome is now delivering...
* 5x the volume of UniV3 on
@base
* 1.9x WETH/USDC volume of UniV3 on Mainnet
* 1.25x the ETH volume of Coinbase Exchange
* 14x the DEX revenue of Curve
A DEX revolution is underway. Read all about it below:
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Stablecoin transfer volume on Ethereum hit record highs in August and accounted for over 50% of all stablecoin volume.
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Last week, Base had its first day with 1M+ USDC transfers in a 24 hour period.
On the same day, Base transferred $4B in USDC volume (also a record).
Big things are happening on
@base
.
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“65% of stablecoin transactions on
@solana
are under $100 showing the network can process large volumes of small payments.”
–
@cuysheffield
at
@SolanaConf
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What a week for USDC volumes on
@base
.
Last week, $62B+ in USDC transaction volume was processed on Base. This represents the most USDC Base has processed in a 7-day period.
With these volumes, Base led all other chains in weekly USDC volume for the first time ever.
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Congrats to
@MoneyGram
for the launch of their non-custodian wallet!
The wallet is built to bridge the worlds of crypto and fiat currency with USDC on
@StellarOrg
.
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USDC all time volume has surpassed $15.5T in total onchain activity.
And we’re still just getting started.
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The
@base
ecosystem keeps climbing and Aerodrome is the hub.
24hr Volume Leader 🛫
For the second consecutive day,
@dexscreener
reports that the Aerodrome Slipstream WETH-USDC pool leads in volume across all chains, achieving this with $16.8 million in liquidity.
The
@base
ecosystem keeps climbing and Aerodrome is the hub.
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Along with record high USDC daily transfer volume,
@base
also processed record weekly volume with over $30B USDC transferred last week.
Over the last 3 months, USDC transfer volume on Base has increased 64%.
The past two days,
@base
has exceeded $5B in daily USDC transfer volume (both record days on Base).
This happened on two days where banks in the US were closed for a holiday and blockchains were running 24/7.
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There are now over 2 million daily active stablecoin users around the world.
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Stablecoins on L2s now represent 7% of the total stablecoin market.
With an average transaction cost of $0.01, it’s easy to see why L2 stablecoin usage is rapidly increasing.
Stablecoin market cap on L2s just surpassed $10B
Huge milestone 🚀
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According Visa’s onchain data, stablecoin volumes over the past 12 months have surpassed $20 trillion while processing 3.4B+ transactions.
Stablecoins have entered the big leagues.
9/ The survey also suggests that stablecoin usage for non-crypto activities will continue to grow, as 57% of respondents report an increase in stablecoin usage in the past year, and 72% believe their usage will increase in the future.
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Daily transactions on
@base
are at an all time high.
Over the past week, Base has processed over 4 million transactions per day on average.
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Today, I’m very excited to drop the first edition of The API Economy. This essay features
@merge_api
, a company on a mission to connect the world of B2B SaaS through their unified API.
Give it a read and let me know what you think 😎
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Since the beginning of the year the market cap of stablecoins has increased by $40b (+32%).
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This week, we saw activity pickup across crypto.
1. DeFi experienced its highest trading volume day since March of 2023.
This represented the 4th most active day in DeFi in the past 3 years.
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In the last 3 months,
@MoonwellDeFi
has processed over $1.7b of USDC volume and has now reached $100m of USDC supply.
DeFi on
@base
is cooking. 🔥
🌜🔵🌛
@MoonwellDeFi
has reached $100M total USDC supply volume since the start of
#SuperFest
. Based.
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One place stablecoins have grown the most the past few years are on
@ethereum
L2s.
The launch of
@base
a year ago and the continued growth of
@arbitrum
has helped stablecoins on L2s swell to over $11B in circulation.
There are now $162.4B worth of stablecoins in circulation and that number keeps growing.
In the last year alone, stablecoins have grown:
• 38% in total supply
• 76% in active addresses
• 122% in transfer volume
As of today, we’re less than $4B away from all time highs.
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“And what I'm really happy to report is that we've now gotten that under one second and $0.01 for a transaction anywhere in the world globally.
That makes crypto, I think, the best payment rail globally to date.”
USDC on
@base
will change a lot of things for the better.
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The most valuable startup in Africa (
@theflutterwave
) is facilitating the collection and payout of funds via USDC, supported by
@hedera
.
🇬🇭
@theflutterwave
VP of Strategic Growth Iyembi Nkanza takes to the main stage at the Africa Money &
#DeFi
Summit in Ghana to present: “Enhancing Merchant Settlement Through Flutterwave on
#Hedera
”
#AMDSGH
Flutterwave - a participant in
@The_Hashgraph
Association’s
#Hashgraph
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Stablecoin market cap has reached levels that we haven’t seen since May 2022.
Bullish.
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Circle is now the first global stablecoin issuer to be compliant with MiCA.
This is what it looks like to create a foundation that’s built to last.
BREAKING NEWS:
@Circle
announces that USDC and EURC are now available under new EU stablecoin laws; Circle is the first global stablecoin issuer to be compliant with MiCA. Circle is now natively issuing both USDC and EURC to European customers effective July 1st.
Details
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Stablecoin transfer volume on
@base
is another metric when
@AerodromeFi
is nipping at the heels of Uniswap.
This will be an important metric to keep an eye on.
A whopping 25% TVL increase for
@AerodromeFi
for over the last 7 days as $cbBTC flows into
@base
.
Aerodrome represents 73% of the total DEX TVL on Base and over 3.7x the TVL of Uniswap.
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APIs are more than just tools for technologists; they're the building blocks of innovation.
In my latest essay, I dive into how
@speakeasydev
transforms the API lifecycle through an SDK-first approach with
@sagar_batchu
&
@iamsimonyu
.
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USDC on Solana will replace inefficient payments everywhere.
Solana is the best chain for payments, and it's not close
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How far have stablecoins come in the past five years?
• Supply: +7,242%
• Transfer Volume: +11,600%
• Number of Transfers: +30,668%
• Active Addresses: +15,203%
Sometimes you just need to zoom out to appreciate how far we've come.
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Getting onchain is now free. Zero fees to transfer assets from Coinbase to Base in seconds. Money moves faster and cheaper onchain.
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It works like a dream.
@phantom
consistently delivers the best user experiences in crypto.
Take notes.
FYI:
You can mint photos and videos as NFTs for free in Phantom.
Just take a picture or video (or upload existing ones), add a name and description, then mint!
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Robinhood’s CEO
@vladtenev
discussed stablecoins on Bankless this week, saying:
“If you look overseas, people really want dollars. There’s this narrative of Bitcoin being the greatest store of value for people in countries where currencies are hyper-inflating and they want to
LIVE NOW --
@RobinhoodApp
CEO & Co-Founder Vlad Tenev
What is Robinhood doing in crypto?
@vladtenev
chats with us about tokenization, Robinhood’s Wallet and L2, payment for order flow and MEV, the SEC Wells Notice, and much more.
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This week, the stablecoin market reached supply levels we haven’t seen since January of 2022.
Now is when the fun part starts. 📈
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There are now $162.4B worth of stablecoins in circulation and that number keeps growing.
In the last year alone, stablecoins have grown:
• 38% in total supply
• 76% in active addresses
• 122% in transfer volume
As of today, we’re less than $4B away from all time highs.
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L2s are a game-changer for stablecoins.
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The surge in small $USDC transactions on
@solana
hints at its potential to become a go-to medium for daily expenses in the digital world.
This trend makes Solana + USDC one of the most exciting opportunities in crypto.
More than 2/3 of USDC txs on
@solana
are transfers of less than $100, and more than 1/3 of USDC txs are transfers between $1-$10.
The high frequency of small, dollar-denominated txs on Solana highlights the network's potential for supporting payments activity.
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Recently, USDC on
@base
surpassed more than $3 billion in circulation showing the demand for digital dollars within the Base ecosystem.
To build on the demand for stablecoins, we’re excited to bring EURC to Base to give the world access to digital euros.
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Stablecoin usage continues to break ATHs and has decoupled from the crypto market. While trading ebbs and flows, stablecoin monthly active users has consistently increased.
@BHDigitalAssets
@Visa
@artemis__xyz
@AlliumLabs
Interestingly, the trend is stable and up throughout the market cycles, showing that stablecoin usage has meaningfully decoupled from crypto cycles. This demonstrates that there is exogenous demand for stables, outside of mere trading collateral.
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USDC volumes on
@AerodromeFi
continue to soar.
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Stablecoin growth over the past 12 months is one of the best stories in crypto.
• Over past 6-months, average monthly onchain transaction volume has been $1.5T (growing 200%+ year over year).
• Total stablecoin supply & users will soon reach all time highs.
Watch the space.
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Some additional context on why this is a big deal:
SAP is the world’s largest provider of Enterprise Application Software, counting 99/100 of the world’s largest companies as customers. Their customers generate 87% of total global commerce equating to approx. $46T annually.
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Stablecoin transfer volume reached record highs over a 7-day period last week. Some stats:
• 116.1m total transfers
• 43.2m transfers for USDC alone
• $500b in transfer volume
Along with total stablecoin supplies approaching all time highs, we’re approaching mass adoption.
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The market cap of major stablecoins just reached $164B for the first time since 2022.
Since the beginning of the year, the market cap of these stablecoins is up $40B and only needs up add another $3B to reach all time highs.
Total stablecoin supply has grown to over $160b for the first time in 2+ years and is approaching all time highs.
What a time to be onchain.
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Celebrities are using USDC on
@base
to buy their coffee.
Onchain Summer has been another beautifully executed
@coinbase
campaign.
Love ☕️ I hear there is an Onchain Summer coffee in LA
@NounCoffee
! Might be good to stop by and grab one!
Who has been?!
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Along with the highest stablecoin transfer volume, Ethereum has also seen the most net inflows in the past month.
Stablecoin transfer volume on Ethereum hit record highs in August and accounted for over 50% of all stablecoin volume.
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I’m going to start speaking at a few events/podcasts to prove I can do more than just post charts about stablecoins on X (hopefully).
Come see how it goes.
Next up, we welcome
@peterschroederr
, Director at
@circle
, on stage as he explores how stablecoins are paving the way for blockchain adoption. This session will cover the transformative impact of USDC on global payments.
⏰ 1:30-2:00PM ET
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Onchain is the only way.
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The company bringing the likes of Nike, Starbucks, Meta, Adidas, Disney, and more into the Web3 world.
Along came
@0xPolygonLabs
.
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Incredible story.
Using USDC to pay workers in Colombia, people who were excluded from the traditional financial system get all the benefits of digital dollars via
@Decaf_so
.
Show this video to anyone who says crypto has no real use cases.
Crypto. Saves. Lives.
Still a skeptic? See the onchain effect of
@Decaf_so
,
@StellarOrg
,
@MoneyGram
, and
@circle
in Colombia.
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USDC usage over the past month is on the rise:
• $121.5b Transfer Volume (+204%)
• 20m Transfers (+88%)
• 2.7m Active Addresses (+45%)
Stablecoin summer is heating up. 🔥
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If you’re in crypto, there’s no reason you should be splitting the bill with friends this weekend using Venmo, Cash App, or Zelle.
Have everyone pay their share with any token and get automatically paid out in USDC.
This week I built Bill Split, an app that lets you split the bill with friends
They pay with any token, you receive USDC
Try it this weekend and lmk what you think!
What other features should I add? 🤔
Name and domain might change if there’s a cooler name for it!
Link 👇
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USDC is Venmo for the world.
3/ Send money abroad
We spoke with a user who sends money to Israel and India to pay for help on social, research or to settle up expenses like one would use Venmo.
His issue was Western Union fees are quite high for low dollar amounts.
USDC was used as a global venmo product
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Brian Armstrong on where
@base
is seeing success and what they are seeing developers leverage the most:
“The whole payment stablecoin thing is now finally working because we can do transactions under one second and under one cent anywhere in the world.”
Really enjoyed this chat on the Moment of Zen podcast!
Available on X and most platforms (YouTube, Apple Podcasts, Spotify, etc)
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You can now accept USDC payments via
@stripe
. 👏
After 6-year hiatus, Stripe to start taking crypto payments, starting with USDC stablecoin
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One of the first MiCA compliant EURC transactions to happen, powered by EURC on
@CoinbaseWallet
.
Circle CEO
@jerallaire
pays a photographer in EURC, the first major transaction since Circle attained an Electronic Money Institution (EMI) license in France/EU.
We are the first major global stablecoin issuer to achieve such a license.
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Banks are closed today.
USDC is not.
#OpenMoneyEra
Banks are closed today, but open money is still moving between businesses and across borders 24/7.
$USDC is global, frictionless, and open money that can help your business move faster, with no days off.
#OpenMoneyEra
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It’s just a animated chart of USDC staying $1 while the rest of the market goes bananas.
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@hedera
@CalaxyApp
Sending USDC in a gasless transaction is a killer use case. It’s encouraging to see what the
@CalaxyApp
team is building.
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USDC is the digital dollar made for businesses everywhere.
In 2022, businesses collectively sent more than $150 billion in cross-border payments around the world.
With traditional methods those transactions have high fees and slow processing times, but $USDC can help businesses move money faster, for less. Money is now open.
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If stablecoins are going to keep growing, they’ll need new places to grow and those places are frequently new chains.
Here are the top ecosystems that stablecoins have grown on in the past year.
If stablecoins are going to keep growing, they need new places to go and those places are commonly new chains. If you’re just getting started thinking about different chain interoperability, token standards is a great place to start.
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In 5 years, when we see these signs more places than not. We’ll look back at Coffee Days as the start of a movement to make onchain payments accessible by anyone.
Well done,
@chintanturakhia
. 👏
We made 😄
Since last week, inspired by Coffee Days, we've heard from many small biz owners who want to do the same. And not just for coffee.
Sign up today for a free "USDC Accepted Here" starter kit! 🚀
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Since 2018, USDC has processed over $15T in volume.
Learn more about $USDC at
Our USDC website is live 🚀 We created a dedicated resource to educate the $USDC curious and long-time end users about the digital dollar.
Explore the possibilities of unlocking digital dollars designed for everyone:
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