Impacts of SUSHI Price Changes

    The Sushi token has been trending downwards in price for the month or so. How do the changes in price affect trade volume? How do they affect number of users staking and amount staked?

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    It is to say that the SUSHI token price has been trending downwards during last month. However, ti seems that it is starting to rebound now. Let's to analyze it!

    In this dashboard, we will analyze the impact of token price changes over:

    • The token volume
    • The token active users and number of token transactions
    • The staking in $SUSHI pools and the number of stakers
    • The Sushiswap volume, active users, and total transactions
    • The volume of SUSHI staked and the numbers of SUSHI stakers

    To analyze the impact of SUSHI token price over the total SUSHI volume, I have plotted a chart that shows the token price and the total token volume over time. As well, I have made a scatter plot to study if there exists some relationship between both metrics.

    As a result of both charts, we can say that there is a positive relationship between both, so, when the SUSHI price goes up, the total volume tends to go up as well. For this reason, the first chart shows similar lines for both metrics.

    Analyzing the impact of SUSHI price on the number of active token users and total transactions, we can see how in this case, the metrics are not correlated at all. The trends look similar but the percentage of growth is not the same.

    Regarding these two metrics, we cannot see any relation between the volume staked in the pools and the SUSHI price, so it seems like the token price is not affecting this metric.

    On the other hand, the number of SUSHI pools stakers seems affected in a strange correlation. So, when the token price of SUSHI goes up, the number of stakers not change, but when the SUSHI prices goes down, the number of stakers increase. It is occurs due to some people try to find the best price to enter the pool.

    From this charts, we can extract some important information:

    • Sushiwap volume is affected by the SUSHI token price in a positive correlation, so when the token price increase, the total Sushiswap volume increase as well.
    • The Sushiswap active users are not affected by the SUSHI token price.
    • There is a correlation between SUSHI price and total transactions in Sushiswap.

    The total SUSHI staked and the total number of SUSHI stakers seem to be affected by the SUSHI token price. In both cases, when there is a downtrend on the SUSHI price, the total income in staking and the number of stakers decrease as well. Nevertheless, when the price remains stable or seems to be at its bottom or goes up, the numbers tend to increase.

    To conclude, we have seen a lot of metrics that could get impacted by the SUSHI token price. Our study follows the prompt about the downtrend of it, so analyzing the situation, we have concluded that the SUSHI token price affects the total trade volume (in Sushiswap and in SUSHI token), as well as the number of SUSHI stakers.

    The charts above show, on the one hand, the numbers of stakers and unstakers and their volume, as well as the net volume for each metric. As we can see, the dynamics look similar for stakers and the volume. If we take a look at the net charts, it seems like when the price goes up, the number increase as corroborated before, and when the price goes down, the numbers decrease. However, for the net volume of stakers, when the price tends to remain stable and not increase at all, the numbers are quite variant.

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    Finally, to see if there is a correlation between some of these metrics, I have plotted the scatter charts for net volume and net stakers. The results show that there is no correlation between net staked volume and the SUSHI price, but a positive correlation flashed between net stakers and SUSHI price.