Due to the start of the Ukraine-Russia war on February 24, 2022, the number of swaps and the volume of swaps has increased significantly on this day (Almost doubled).The number of swaps has also increased compared to the days before the war.On March 16 and 19, the volume of swap increased significantly.

According to the chart, it is clear that on the day of the war(24 February 2022), the swap volume in SushiSwap,Uniswap_v2 Uniswap_v3 almost doubled and then dropped.On March 16 and 19, the volume of swap in Uniswap_v2 and Uniswap_v3 increased significantly, but no significant change in sushiSwap. Subsequently, their amount has increased or decreased due to the events in the war and other areas.

Based on the chart above, it can be seen that more than 94% of the swap(on February 24, 2022) belongs to the four tokens WETH, USDC, USDT and WBTC, which shows the high popularity of these cryptocurrencies, the high volume of liquidity pools associated with them and the excellent market cap of these tokens in the digital currency market.

The occurrence of an event such as a war initially causes emotional fluctuations in the cryptocurrency market. It reduces its price to some extent, and if the war continues, the cost of the cryptocurrency will increase. Because cryptocurrency is like gold for people, they look at it as a decentralized, safe asset that can be counted on in the long run. Also, with the acceptance of bitcoin by Russia, there are many benefits for the cryptocurrency market; In fact, when currency codes are accepted and legalized by powerful countries, they increase the acceptance of cryptocurrency, and by setting some rules about them, people gain more confidence in this type of market.

We use Velocity to get results. There are swap data related to decentralized exchanges in the dex_swaps table, which we obtain by using a query on this table and limiting the results to before and after the date of the war (February 24, 2022).

Conclusion