Connect with us
Active Currencies 14297
Market Cap $2,524,031,797,033.80
Bitcoin Share 51.73%
24h Market Cap Change $0.34

SUSHI lovers should take a look at the November menu before making a final call

2min Read

Share this article

On 4 November, it was announced that the first ever stableswap on SushiSwap was being deployed through Polygon. With significant volatility surrounding SUSHI, this new update may cement SushiSwap‘s position in the long run.


Here’s AMBCrypto’s Price Prediction for SushiSwap [SUSHI] for 2022-2023


The stableswap features a USD+/USDC Gauge Pool and at press time, its annual percentage rate (APY) was at 209.22%. Its current liquidity was at $127,000 and had depreciated by 5.19% over the last 24 hours. However, its volume had shown growth during the same time period.

Despite the launch of this stableswap, SUSHIs total value locked (TVL) remained the same throughout October according to DefiLama. Furthermore, at the time of writing, SushiSwap’s TVL stood at $591.01 million.

Fees and revenues

The fees generated by the DEX continued to grow over the past few weeks. As can be seen from the image below, the fees collected by SushiSwap had increased significantly. In the last 24 hours, the total fees collected by SushiSwap was at $263,000 and the total revenue generated was $43,000.

Source: DeFiLlama

Although the fees and revenue generated kept on growing, the average number of new users being added on SushiSwap continued to decline. From the image below, it can be observed that the number of new users being added per day declined over the past two months.

Source: Dune Analytics

Furthermore, along with the new addresses decline, the daily activity for SUSHI also declined over the past month. Additionally, its velocity decreased over the past few days as well. This indicated that the frequency with which the tokens were being transferred from one address to another had reduced.

Source: Santiment

Even with the launch of new protocols, SushiSwap still had a long way to go before it could outcompete other DEXs.


The number of transactions on SushiSwap paled in comparison to the frequency of transactions on Uniswap. As can be witnessed from the image below, the number of transactions being made on Uniswap outweighed the number of transactions being made on SushiSwap by a large margin.

Source: Dune Analytics

It remains to be seen whether SushiSwap’s recent development will improve its chances of competing with other DEXs. At the time of writing, SUSHI was trading at $1.92 and had appreciated by 10.04% over the last 24 hours according to CoinMarketCap. During the same time period, its volume also appreciated by 53.50%.


Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.