What does SushiSwap mean to Uniswap?

Mars Finance APP (WeChat: hxcj24h) first-line report on September 1 , data shows that since the decentralized trading platform SushiSwap went online 81 hours, the scale of locked funds on the platform has exceeded 1 billion US dollars, and the token SUSHI (sushi) has a market value of 163 million Dollar.


In terms of token prices, according to the data of the Cocoa Finance platform, SUSHI continued its upward trend before its launch. The price is currently reported to be 6.65 US dollars, which is an increase of over 121% in 24 hours. The increase is much higher than that of popular DeFi generations such as YAM, AMPL, CRV, and ANT. currency.

SushiSwap’s very attractive gameplay and the sharp rise of SUSHI are introducing players in the DeFi market to its platform step by step. According to the data, as of now , in the 13 fund pools provided by SushiSwap, about 93% of the liquidity providers (LP) are from Uniswap , while the previous figure was 88%. Chung continued into the LP push SushiSwap locked gross, the size of funds from the $ 630 million a few days ago, soared to the current $ 1.05 billion, up 76.8% Uniswap amount of money .

From the data of SushiSwap , the platform seems to have the possibility of challenging Uniswap’s market position. However, if you look at Uniswap’s transaction volume in recent days, SushiSwap may not only be its potential “challenger”, but also a “feeder”.


According to the data, SUSHI’s current Uniswap liquidity pool size surpasses YFI, LINK, and SNX, becoming a popular currency after ETH, USDT, USDC and other stable currencies, and its 24-hour trading volume exceeds 100 million U.S. dollars. At the same time, the popularity of the SUSHI/ETH pool has surpassed YFI/ETH and LINK/ETH, ranking only below ETH and USDT (such as stable currencies).


Affected by SUSHI, the size of Uniswap’s liquidity pool has further expanded, from US$630 million on the 29th to the current US$1.37 billion, an increase of 117.4% within 3 days.


At the same time, Uniswap’s trading volume has risen sharply, reaching 426 million US dollars on the 30th , catching up with the mainstream centralized exchange Coinbase (about 348 million US dollars).


Currently, Uniswap has a transaction volume of US$580 million in the past 24 hours, which is still higher than the Coinbase transaction size (approximately US$445 million).


As of press time, SUSHI is quoted at US$6.83, a 24 hour increase of 127%.

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