Introduction

What is Sushiswap

Sushiswap is a decentralized cryptocurrency exchange and automated market maker built on Ethereum. Holders of SUSHI can participate in community governance and stake their tokens to receive a portion of SushiSwap's transaction fees.

What is Celsius?

Celsius network is a regulated, SEC compliant, lending platform that enables users to receive interest on deposited cryptocurrencies or take out crypto collateralized loans. Celsius hopes to attract users by returning high yields on their deposits while maintaining the benefits apparent in traditional outlets such as quick, fee-less transactions. For existing crypto investors wishing to take out a loan, Celsius provides an opportunity to receive dollars without cashing out of cryptocurrency holdings.

What is currently happening to Celsius?

Currently Celsius is pausing all withdrawals, Swap, and transfers between accounts. Celsius appears to be the latest crypto company to buckle under tightening financial conditions and is rumored to be having liquidity issues.

Methodology

• We will look at the swaps from Celsius wallets on Sushiswap and Uniswap.

• We are looking to see how there wallets have been swapping in Defi under current market conditions.

Celsius Swaps Metrics

Observations

During April of 2021 the celsius wallets transferred from using usniswap to using sushiswap and only use uniswap for a small portion of their swaps each week now. Celsius wallets have made nealy no swaps with their wallets since the beginning of May 2022. The top 3 pools make up about half of all Celcius swaps.

Conclusion

• The top 5 Celsius wallets make up almost all of the trading volume.

• Only 20 Celcusis wallets have used DEX to swap.

• Celsius wallets have made nealy no swaps with their wallets since the beginning of May 2022.

• The top 3 pools make up about half of all Celcius swaps.