Sushi Activity on Ethereum
Question:
Q96. How did the recent spike in market volatility affect the overall activity of sushi on Ethereum? Analyze both swaps and lendings?
Approach:
The market downturn is considered since May 9 to 12 according to the various resources. This essay represents the application of Sushiswap on Ethereum from various aspects like swaps, lending and borrowing.
The methodology of this essay contains:
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Swap analysis
from ethereum.sushi.ez_swaps
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Lending
from ethereum.sushi.ez_lending
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Borrowing
from ethereum.sushi.ez_borrowing
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The metrics
count(distinct tx_hash) as count_txn -- number of transactions sum(AMOUNT_IN_USD) as volume -- Volume of usage (in USD) count(distinct SENDER) as wallets -- Participants
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Time period
where BLOCK_TIMESTAMP>='2022-05-01' -- start of May, 2022
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The Key findings of the Sushiswap activity on Ethereum during market downturn have been listed as below:
- The number of transactions on Sushiswap decreased since May 11th as shown in the first graph.
- The trend of Sushiswap application on Ethereum has decreasing movement until June 5th and after that date started growing after consistency of Market.
- The count of unique participants on Sushiswap activities decreased after market downturn, too.
- The volume of swaps decreased very sharp from 385 million USD on May 12th to 139 million USD next day.
- The USD volume of Lending and borrowing application on Sushiswap decreased as shown in the last graph.