What does "adjusted" stablecoin transaction volume mean?

[Capitao4435]

I’m an economics student currently working on a term paper about the transformation of financial markets under the influence of Web3, and I keep coming across the metric "adjusted stablecoin transaction volume" while analyzing reports on the digital asset market. I don’t fully understand the methodological difference between this metric and the standard gross volume of on-chain transfers. Could someone explain exactly how this adjustment is calculated and what it filters out?

 

[Capitao4435]

Here’s a quick clarification for the methodology section: Why do economists prefer adjusted metrics to the reported total on-chain turnover of blockchains when assessing the impact of crypto assets on the real economy?

 

[Teo99]

Raw blockchain data can create a misleading impression of the true scale of coin usage. The adjusted volume filters out exchange trading and automated flows, counting only actual payments and transfers. This is precisely why the $28 trillion figure for 2025 is referred to as ""real economic activity."" Without filtering, internal transactions by trading bots, arbitrage loops, and transfers between crypto exchange hot wallets inflate the statistics many times over. To gain a deeper understanding of these statistical models, I recommend reading the article https://www.tekedia.com/stablecoin-transaction-volume-could-reach-1-5-quadrillion-by-2035/ It's an informative piece that describes how data adjustments reveal the underlying development of the payment infrastructure. Which analytical platforms (such as Glassnode or Nansen) do you use to collect statistics for your term paper? Have you considered comparing these figures with those of traditional systems like Visa?