Sushi during Volatile Times II
How The Exchange Is Doing Across Multiple Chains
The recent volatility in the market which has been really felt since the beginning of May 2022, has been very much a crazy one. It is believed that a lot of investors are taking flight to safely while others are dollar-cost averaging (DCA) into coins they feel as currently at a discount.
Amid all the volatility, centralized exchanges (CEX) and decentralized exchanges (DEX) are the ones processing all the volume. So we want to narrow down into a particular DEX (Sushiswap) which has been multichain for a while now an try to get insights into trading activity over this volatile period (May 1, 2022 >).
First, let us take a look the swap count of Sushiswap across three different chains, Ethereum, Harmony, and Polygon.
The numbers from the swap counts tell us that a lot of Swaps are happening on Sushi on Harmony, more than Ethereum. The swap count for Sushi on Polygon is the least among the three as it sits in third place.
Next, we want to look at the actual volume accompanying these swaps, so let's take a look a the chart below which presents the volume per day across chains since May 1 2022.
From the graph, we can see that Ethereum is leading in the Sushi swap volume which is in the millions and it hit a peak at 472.1M USD on May 12, 2022. Harmony on the other hand saw more swap activity but its peak volume was under 7.4M USD on May 11, 2022. For Polygon, it seems to be trailing on both swap count and volume.