Market Volatility II

The effects of the recent spike in market volatility on the Sushi token.

Outline

For this question, we are looking for the effect of resent market crash on the Sushi token. We first take a look at Sushi's supply and demand during the crash period. Then, we analyze the liquidity of Sushi on Uniswap and Sushiswap. And finally, we look at the staking and unstaking events of Sushi.

Notes: We use the data from the May 1, to May 21.

Q1: What was the supply and demand dynamic for Sushi?

The following graph shows the supply and demand of Sushi.

On May 9, Sushi fell below $2 price. So, a panic sell took place in the market.
On May 11, Sushi lost about 30% of it value, and the market saw another round of panic selling.
May 12 can be seen as the bottom of the pit. Meaning the price of Sushi hit its all time low, which explains more supply than demand. But the price was less volatile during the day, so less nervousness and less supply in the market.
On May 13, Sushi gained +33%. So the demand soared!

After few days of high volatility, Sushi was almost experiencing an stable price, with an minor bullish trend.

Q2: What did the liquidity of SUSHI on Uniswap and Sushiswap look like?

In general, Uniswap absorbs much more liquidity than Sushiswap.

We can see that the liquidity that was poured to the pools of these platforms, was more than 5 Million, per day for the three volatile days of May 11 to May 13. Which was a natural reaction to market crash, since during such an event, people tend to sell their assets ASAP, or swap them for a more stable positions/assets.

Q3: Staking and unstaking situation for Sushi

On May 9, many stakers decided to unstake their assets. Probably they decided that selling their assets sooner can stop their losses.
On May 10 and 11 Sushi staking rose again.
May 12 and 13, unstaking took the lead again. Maybe because of another round of panic!
An interesting thing happened at May 15. When about 5 Million Sushi got unstaked. This requires further inspection.