소금별@saltroom
Even if stablecoin activity increases, we can look at whether that actually translates to increased altcoin buying separately.
The ERC-20 transfer function records the sender's address, the recipient's address, and the amount, while totalSupply is a separate query field. The format itself doesn't indicate whether a payment or swap took place.
If we look at a single ledger, when 100 tokens move from A to B, B to C, and then C back to A, the total transfer volume is 300. Assuming no other movements or minting, the number of tokens entering from outside A, B, and C is 0, and new issuance is also 0.
This doesn't mean all movements are fake; they could have been used for payments. However, by recording internal transfers, inflows/outflows across group boundaries, minting/burning, and actual altcoin swaps in separate columns when looking at the same period's ledger, we can avoid conflating 'increased activity' with 'altcoin demand.' Since a single transaction might fall into multiple columns, we don't calculate total inflow by simply adding up the values in each column. Anything where the address owner or swap status cannot be verified is left as unclassified.
If an altcoin swap is verified, this path could be a clue linking it to altcoin trading activity, but net buying or price increases would need to be confirmed separately. This isn't to say I've analyzed the ledger right now; it's just a calculation example.
Bitcoin has had a rough few days... If it’s any consolation, the entire asset market has seen a pullback. While Bitcoin remains the dominant force in the crypto market, many individual investors are likely more intereste…
