USDC Trading Surges Past BTC as Market Structure Shifts
USDC Trading Surges Past BTC as Market Structure Shifts
📊 USDC Flips BTC
USDC trading volumes overtook BTC as the dominant venue this week, marking a significant shift in market structure.
Key Trading Metrics:
- USDCUSDT emerged as largest venue with P95 at 678.7k
- BTCUSDC/USDT dropped to second place at 164.6k P95
- ETHUSDC/USDT remained smallest at 25.7k P95
Notable Changes:
- USDC volumes increased dramatically from previous weeks
- BTC maintained strong position but lost top spot
- ETH trading stayed consistent at lower levels
The tiered structure shows most activity still concentrated in smaller trades, with median sizes ranging from 1.3k to 3.0k across pairs.
Trade size percentiles showed a clear hierarchy across pairs this week. BTC–USDC/USDT led with a P95 of 100.0k, P75 at 9.9k, and P50 at 1.9k. USDC–USDT followed at 50.0k, 9.4k, and 1.9k, while ETH–USDC/USDT remained smallest at 24.2k, 5.0k, and 1.0k. Overall, activity stayed
Trade size percentiles formed a clear tiered structure across pairs this week. USDC–USDT was the largest venue, with a P95 of 678.7k, P75 at 18.8k, and P50 at 3.0k. BTC–USDC/USDT followed, posting 164.6k at P95, 10.5k at P75, and 1.3k at P50. ETH–USDC/USDT remained the smallest,
Hashflow Releases December HashBeats Report
**Hashflow published its latest HashBeats report** covering recent developments in the multi-chain DEX ecosystem. The report provides updates on: - Platform performance across supported chains - Trading metrics and user activity - Recent protocol developments Hashflow continues operating as a **slippage-free DEX** across major blockchains including Ethereum, Arbitrum, Avalanche, BNB Chain, Optimism, and Polygon. [Read the full HashBeats report](https://news.hashflow.com/hashbeats-december-5-2/)
Jupiter Maintains DEX Aggregator Lead as Wowmax Exchange Posts Major Growth
**Jupiter continues its dominance** in the DEX aggregator space, leading weekly trading volume for another consecutive period. **Top performers by volume:** - Jupiter holds the #1 position - CowSwap secures second place - OKX Dex rounds out the top three **Biggest growth winners** this week include: - Wowmax Exchange posting standout gains - Navi Protocol showing strong expansion - Bluefin delivering notable week-over-week increases The aggregator landscape shows **consistent leadership** from established players while newer protocols demonstrate significant momentum in trading activity.
Hashflow Volume Drops to $36M as Trading Activity Stabilizes
**Hashflow's weekly trading volume fell to $36M** as the platform focused on system refinements rather than growth. The DEX maintained **1,600+ active traders** with more balanced trade sizes across stables, ETH, and BTC pairs. This consistency allowed market makers to calibrate more effectively. **Key Trading Metrics:** - BTCUSDC/USDT: P95 at $139.6k, P50 at $7.4k - USDCUSDT: P95 at $75.6k, P50 at $3.0k - ETHUSDC/USDT: P95 at $32.9k, P50 at $0.878k **Aggregator Rankings:** - Jupiter Exchange leads weekly volume - CoWSwap and OKX follow - Biggest growth from WowmaxExchange, Navi Protocol, and Bluefin The data shows **small trades dominate the market**, with larger transactions concentrated in BTC pairs. Hashflow positioned this quieter week as foundational work for more durable future flow. [Read the full report](https://news.hashflow.com/hashbeats-november-21-2/)