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Aerodrome liquidity farming drives 90% of USDC transfers on Sept 23, inflating onchain volume figures.

Technical Signals
23 Sep 2026
Crypto news
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Neutral
Aerodrome liquidity farming drives 90% of USDC transfers on Sept 23, inflating onchain volume figures.

On September 23, about $109 billion of the $121 billion in USDC transfers were linked to liquidity farming on Aerodrome, a decentralized exchange on Coinbase's Base blockchain. This activity, known as one-tick farming, involves repeated token movements within liquidity pools, inflating transfer volumes without representing actual payments. RyeBlocks highlighted that such farming accounts for roughly 75% of USDC transfer volume since Aerodrome's launch. This distinction is important as it shows that high transfer volumes do not necessarily equate to real payment activity, impacting how investors interpret stablecoin data.

The story on Aerodrome farming's dominance in USDC transfers provides context for readers interested in cryptocurrency activity. For readers following major cryptocurrencies on Pluang, here is the market snapshot as of Sep 24, 2026 01:23 WIB: out of 50 priced major cryptocurrencies, 9 rose and 40 fell today. Notable movers include KSM at Rp78.245 with a 1-day change of -6.98% and Pluang order activity of 86% Sell / 14% Buy, COTI at Rp298 with +6.82% change and 23% Sell / 77% Buy activity, and LINK at Rp218.232 with -6.39% change and 45% Sell / 55% Buy activity.

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