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What Will You Read?

In This Analysis, You will Read about Celsius wallet’s activities with Stablecoin on Sushiswap.

We want to Find out what the Celsius platform has done on sushi (swaps, lending, LP'ing, farming).

IMPORTANT NOTE: I DID NOT FIND ANY LENDING AND BORROWING ACTIVITIES ON SUSHI FROM CELSIUS NETWORK. SO I JUST ANALYZED STABLECOINS SWAPS.

Analyzed by Hess - Reading time Almost 3 min

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Method

• First, I found Celsius addresses from  flipside_prod_db.crosschain.address_labels table with celsius wallet address name.
• Then, I used My finding in the Cross-chain EZ swap table and calculated swaps activities.

Celsius Swaps Overview

Daily Swaps

• I found Only one stablecoin swap in 2022 from Celsius wallets. About 52K swapped on April 29th, 2022.
• There were 5 swaps in 2020 and rest of them in 2021.

Celsius Swaps

• 52% of swap volume was from USDT.
• 45.5% of swap volume was from USDC and 2.9% was from DAI. In total, 343K US dollars were swapped from Celsius wallets.
• One Celsius wallet made 7 swaps with 154K Volume.

Conclusion

• Unfortunately, there weren’t enough data to analyze Celsius wallets better. What we can conclude from this analysis is that they don’t use Sushi to swap their stablecoins. The most common stablecoin for Celsius wallets was USDC and USDT.