SushiSwap Trend of Pools

In this analysis, the type of pools used by SushiSwap's users for withdrawals and deposits have been evaluated for the past 90 days.

Methodology

The required data were collected from the ez_dex_swaps table of the ethereum_core schema.

Some assumptions were made before querying the data:

Symbols and pools with null value were removed from the results;
amount_in_usd and amount_out_usd with

Also, three transactions between DSD/USDC pair were considered as outliers and removed from the query as a result:

0x71cefe57d16b73792d6c1b7f176345ff81050a11b4e927b87f89afed79f64e33
0x0a5c146a5d1cebf4c88d707c0d18e51723486f5ea1b7c4a8c7225b3ebbf9d0e4
0xff67cf25ff60f6d3fb72303aa032a234c1660323bb8e223b664fa5af0cca6fe9

Platform Overview

The analysis of withdraws and deposits volume in addition to the number of senders and receivers have been shown that although the input and output volume were almost identical in the past 90 days, the number of unique token receivers was almost 15 times higher than the number of unique senders. This shows that a fewer number of users are responsible for a huge volume of transactions.

Conclusion

As it is demonstrated below, the total number of transactions saw a steady trend over the last 90 days, there have been multiple consecutive spikes in the transactions since May 11th which might be due to the huge global downtrend in the crypto market.

It has been decided to analyze the pairs separately since the number of pairs make the charts obscure. As it can be seen on the charts below, WETH and USDC accounted for more than 50% of all transaction volumes, both withdrawals and deposits.

Pools

The majority of dominant pairs consist of WETH for both deposits and withdrawals which is logical because SushiSwap works on the Ethereum network and ETH is the native token.

Overall, it can be seen that SushiSwap's user engagement has increased over time. The majority of users have utilized the native tokens, specially WETH and USDC, for liquidity pools and their swaps. Although there are other tokens whose usage might spike on certain days, there has not been any clear trend over their increase in usability. In conclusion, apart from the WETH which has been the dominant token on the platform, stablecoins such as USDC, USDT, DAI, etc. have been the major pools used by the users.