{"id":25298,"date":"2022-08-08T06:22:45","date_gmt":"2022-08-08T06:22:45","guid":{"rendered":"http:\/\/egrowonline.com\/?p=25298"},"modified":"2022-08-08T06:22:45","modified_gmt":"2022-08-08T06:22:45","slug":"down-by-93-but-not-quite-out-the-sushiswap-sushi-story","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=25298","title":{"rendered":"Down by 93%, but not quite out – The SushiSwap [SUSHI] story"},"content":{"rendered":"


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As a token native to a DEX, SUSHI<\/a> is affected in a lot of ways by the developments in the DeFi markets. However, of late, the bearishness has been such that despite a 71% recovery from its June lows, SUSHI is still far away from bringing its investors profits.<\/p>\n

SushiSwap is unique\u2026<\/h4>\n

SUSHI was one of the few altcoins to not mark a new all-time high (ATH) in May 2021. Instead, it hit its high in March 2021 and has been on a downtrend post-May.<\/p>\n

In fact, since the aforementioned ATH, the cryptocurrency has plummeted by more than 93.4% in a year and a half.<\/p>\n

\"\"\"\"<\/a><\/p>\n

SushiSwap price action <\/em> | Source: TradingView \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n

Even though the crypto-market is in the middle of recovery, SUSHI is yet to actually recover the losses of its investors.<\/p>\n

However, the situation is not similar the other way around, as the improvement on the DeFi front has had no significant impact on the altcoin.<\/p>\n

Between June and 7 August, SushiSwap\u2019s performance as a DEX has ameliorated after a downtrend of more than eight months. The first instance of the same was visible when looking at the average monthly users on the DEX.<\/p>\n

By November 2021, a total of 170k users could be seen active on the platform. The figure dropped to just 49k by the end of June.<\/p>\n

Last month, 7k users returned to the network. Interestingly, higher numbers are expected this month since in the first week of August, over 15k users have already been recorded.<\/p>\n

\"\"\"\"<\/a><\/p>\n

SushiSwap total users <\/em>| Source: Dune \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n

However, along with their presence, it is important for their activity to increase as well, which is the key driving factor for growth. SushiSwap recorded a total of $1.8 billion in volume in June, which slightly declined to $1.52 billion by last month.<\/p>\n

Now, August is expected to note $1.3 billion worth of volume by the end \u2013 Lower than July.<\/p>\n

\"\"\"\"<\/a><\/p>\n

SushiSwap volume <\/em> | Source: Dune \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n

Even so, with over $336 million in volume recorded over the past week, SushiSwap is inching closer to overtaking Balancer. In doing so, it might claim the latter\u2019s spot as the fourth-biggest DEX in the market.<\/p>\n

Hopefully, with such changes, SUSHI could see some growth as well and recover some of its 93% losses.<\/p>\n<\/p><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As a token native to a DEX, SUSHI is affected in a lot of ways by the developments in the DeFi markets. However, of late, the bearishness has been such that despite a 71% recovery from its June lows, SUSHI is still far away from bringing its investors profits. SushiSwap is unique\u2026 SUSHI was one […]<\/p>\n","protected":false},"author":1,"featured_media":25299,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[2690,8713,1424],"class_list":["post-25298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-story","tag-sushi","tag-sushiswap"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/08\/asian-gcdcb68d9a_1280-1000x600.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25298"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25298\/revisions"}],"predecessor-version":[{"id":25300,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25298\/revisions\/25300"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/25299"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25298"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}