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Q63. Analyze the trend of active users and number of swaps for sushiswap and draw a comparison with Uniswap. Describe the trends that you see
The chart below shows the number of daily transactions on Sushiswap and Uniswap since the beginning of 2021.
The table below shows the total number of sushiswap and Uniswap transactions since the beginning of 2021.
According to the chart above, the number of Uniswap users has jumped sharply in several dates:
- May 8, 2021 - 85,412 users (sudden increase)
- 15 July 2021 - 57,146 users (sudden increase)
- 9 November 2021 - 52,734 users (sudden increase)
- December 25, 2021 - 103344 users (sudden increase - the number of users on this day is the highest number recorded on Uniswap since the beginning of 2021).
- January 31, 2022 - 21,135 users (sudden decrease)
- March 27, 2022 - 14,906 users (sudden decrease - similar to Uniswap, the number of Sushiswap users also recorded the lowest on this day.) Immediately the next day, March 28, the number of users increased significantly and reached 83,789 users. In other words, it has increased more than 5.5 times in less than a day.
According to the above diagram, the following information is obtained:
The number of transactions was on a downward trend from July 3 to September 4, 2021. From October 8, 2021 to October 30, 2021, the number of transactions on Uniswap gradually increased. Then, from October 30, it entered a multi-month downtrend. This downtrend ended on January 30, 2022, and the number of transactions has been increasing since then.
According to the time frame, the highest number of transactions was recorded on October 30, 2021. The number of these transactions is equal to 174,248 transactions. The lowest number of transactions in Uniswap is related to January 30, 2022. The number of these transactions is equal to 37,612 transactions.
The point that draws attention in the chart related to the number of Sushiswap transactions is several jumps in the number of transactions. Some of these transactions are:
- 22 August 2021 - 21,527 Transactions
- October 15, 2021 - 23,571 transactions
- December 25, 2021 - 27,540 transactions (the highest number of transactions is related to the same day.)
On the other hand, the lowest number of transactions was recorded on February 18, 2022. In general, the number of transactions has decreased since February compared to the previous months.
Uniswap is a protocol for automated token exchange on Ethereum. It was launched on November 2, 2018. Uniswap has a formalized model for pooling liquidity reserves. It serves as an open-source frontend interface for traders and liquidity providers and is committed to providing free and decentralized asset exchange.
>> Refrence: CoinMarketCap
Introduction
SushiSwap is a decentralized exchange (or DEX, for short), and the first product by Sushi. SushiSwap is also non-custodial, which means that—unlike centralized exchanges—SushiSwap does not need to possess your tokens in order for you to be able to trade them. Instead, SushiSwap allows users to trade trustlessly, peer-to-peer, with liquidity that is supplied by other users. This means that new projects can easily connect to their desired markets as long as some entity is willing to provide the liquidity.
>> Refrence: Sushiswap Whitepaper
The chart above shows that the number of Sushiswap users has now decreased compared to last year. For example, the number of users on April 1 this year was 5,126 users, while on the same date last year, Sushiswap had 7,166 users. Of course, this could be due to the cryptocurrency market conditions.
On the other hand, in a few dates, the number of users in Sushiswap has increased dramatically. These dates are:
- 16 August 2021 - 29,955 users (Maximum User)
- October 15, 2021 - 21,428 users
- 25 December 2021 - 19,015 users
On the other hand, on March 27, 2022, the lowest number of users interacted with Sushiswap.
The chart below shows the number of uniswap users per day since the beginning of 2021.
According to the chart above, the number of transactions in Uniswap was more than 8 times the number of transactions in Sushiswap.