Swap Volume and Ukraine War

    Q68. How has the Ukraine war affected the swap volume on Sushi and Uniswap? Has there been a surge in demand for a particular token?

    Introduction:

    Based on the question, this dashboard wants to find the impacts of Ukraine war on swap behavior of popular DEXs like Sushiswap and Uniswap.

    For this purpose, first we must clarify the date of beginning war. According to the sources of internet, Feb 24, 2022 was the date of first attack on war.

    • The inflow and outflow volume (USD type) of swaps for DEXs are estimated.

    • The most popular tokens on DEXs are obtained by volume of swaps.

    • The detailed results are shown in the following figures.

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    In this figure, the USD volume of swaps on Sushiswap is shown from the start of Ukraine war. As shown in this figure, in the start day of war both of the inflow and outflow volumes were at their maximum level. It shows the impact of starting war on crypto universe and how people afraid from war and swap tokens momentarily. Some peoples seeks to gain extra money and some of them just want to secure their financial investments.

    Uniswap is one of the most used DEXs on crypto universe. The swap behavior on this platform from the USD volume of swap is shown in this figure. Both inflow and outflow volume is demonstrated. As shown in this figure, the maximum USD volume of outflow from Uniswap happened on Mar 16 which is about 3 weeks after start of war. Also, the maximum inflow to Uniswap happened on Apr 5.

    The most popular tokens that swapped for or it can said most demanded token on Uniswap and Sushiswap over time are shown in this chart. As shown in this chart, almost in every day of war the WETH token was popular. The WEAPON token had spike on Apr 5. The Volt token jumped at very high swap volume on Apr 20.

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