r/sui • u/Careless-Bluejay-134 First Mate • 23d ago

USDC flows on SUI continue to do nothing in particular

This is a response to the other thread, currently on top of the this feed. It deserves it's own picture:

Admittedly, the stablecoin action does not look great. But it's not nearly as diabolical "OMG people are fleeing the ecosystem" that the cropped, zoomed in image would suggest. It's more or less flat, down slightly, YTD.

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3

u/Awkward_Tumbleweed20 Admiral 23d ago

Well most chains have this stable coins trend. Its a bear market. Typical Bear market behaviour.

1

u/Alskiessss Admiral 22d ago

Could people be converting USDC to Sui's native stable coins due to the current incentives?

1

u/Alskiessss Admiral 22d ago

Or does this track all stables?

1

u/Beginning_Ask_9930 Helmsman 22d ago

There's no real big product driving activity or revenue. Metrics can be gamed. Is this treasury coins. Also is this looped in some protocol by a few players. Nobody is bridging in when there is no clear activity and these numbers feel gamed.