Users deposit funds into Circle account and receive USDC or EUROC at a 1:1 rate.

Circle is a financial technology company that is the principal architect of USDC and EUROC - full-reserve fiat stablecoins that bring US dollar and euro liquidity on-chain.

Circle is a private company registered in the US. Circle's investors include Goldman Sachs, Baidu, and IDG Capital etc.

github

twitter

discord

website

Stablecoin issuers

Circle

# Circle Active addresses (weekly) Methodology

## 1. Overview

Active addresses (weekly) is defined as the number of unique addresses that make a transaction with Circle products, including transaction senders on Arc and participants in StableFX trades, over a 7-day rolling window. This metric is utilized to evaluate user engagement and network activity. By tracking the weekly volume of unique active addresses, insights into the adoption and utility of the platform are provided. Weekly active addresses are used as a key indicator of overall health and growth for the ecosystem.

## 2. Data sources

- **Blockchain events**: Transactions, `TradeStatusChanged`, `TakerRefunded`, and `MakerRefunded` events, and `recordTrade` and `authorizeTrade` function calls from `FxEscrow` contracts, covering Arc

## 3. Step-by-step calculation

### Component A: Arc transaction sender extraction

- **Purpose**: Identify unique transaction senders on the Arc chain
- **Logic**: Transaction data is retrieved from the Arc chain. For each transaction, the sender address from the `from_address` field is extracted and designated as the user address. The transaction timestamp and hash are also captured and cast to their respective data types.
- **Key fields**: `block_timestamp`, `transaction_hash`, `from_address`

### Component B: StableFX trade participant extraction

- **Purpose**: Extract unique taker and maker addresses from settled StableFX trades
- **Logic**: Trade data is parsed from `recordTrade` and `authorizeTrade` functions from `FxEscrow` contracts. Settlement is verified using `TradeStatusChanged` events from `FxEscrow` contracts, while trades with corresponding `TakerRefunded` or `MakerRefunded` events are excluded. System emitter addresses are filtered out. For each settled trade, both the `taker_address` and `maker_address` are extracted and designated as active user addresses, while the transaction sender (representing the relayer) is excluded.
- **Key fields**: `block_timestamp`, `transaction_hash`, `taker_address`, `maker_address`

### Component C: Weekly unique address aggregation

- **Purpose**: Aggregate unique addresses per 7-day window to determine weekly activity
- **Logic**: The extracted user addresses from both transaction senders and StableFX trade participants are grouped by 7-day window using the truncated transaction timestamp. Unique user addresses are aggregated weekly to calculate the distinct active users for each 7-day window.
- **Key fields**: `block_timestamp`, `user_address`

### Component D: Metric finalization and zero-filling

- **Purpose**: Standardize the weekly active addresses metric and ensure continuous time series data
- **Logic**: The aggregated weekly active addresses are cast to the correct numeric data types and mapped to the project dimensions. Missing weeks in the time series are filled with zeros to maintain a continuous weekly record, and chain availability filters are applied to align the data with active periods.
- **Key fields**: `timestamp`, `active_addresses_weekly`

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique active addresses over a rolling 7-day window.

Circle

Active addresses (weekly)

Active addresses (weekly)

Competitive landscape

Chain breakdown