Total value locked increased 171%
Decentralized exchange platform SushiSwap has doubled in size since the start of this year. The amount of unique active wallets increased by 93%, while the total volume locked in the platform’s smart contracts increased 171%.
SushiSwap now has almost 3 billion dollars in value locked in their product (TVL), while they only had $1.2 billion on January 1st. The Adjusted Total Value Locked (aTVL) shows a chart separate from the token value. Also here we see that the value in SushiSwap increased.
On SushiSwap users can trade cryptocurrency in a decentralized manner. All the trading pairs on the platform have been provided by other users, and are locked into smart contracts. Those liquidity providers earn SUSHI tokens for doing so.
The value of these SUSHI tokens has skyrocketed over the past three months. One SUSHI is $15.75 at the time of writing, which’s more than three times the value from early October.
SushiSwap has been in the news a bit in recent weeks. American billionaire Marc Cuban mentioned the platform recently, while also creating his first NFT. At the same time the development team has plans for more collaborations, blockchain integrations and a migration to an even more decentralized ecosystem.
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