SUSHI

SushiSwap withdrew over $ 800 million …

Navigation

How To Make 3,000% On SushiSwap – Step By Step SushiSwap Tutorial | Sushi Coin Yield Farming

SushiSwap withdrew over $ 800 million ...

SushiSwap Withdraws Over $ 800 Million, Collapsing Trading Volume on Uniswap
CONTENT

  • New SushiSwap Owners Withdraw All Liquidity From Uniswap

  • The total volume of liquidity exceeded $ 800 million

  • Unauthorized decision of anonymous developer SushiSwap drops the price of SUSHI by 50%

International consortium of news organizations developing transparency standards.

The withdrawal of liquidity occurs as part of the transfer of control over the project to the cryptocurrency community

SushiSwap’s decentralized liquidity protocol divested nearly $ 830 million in liquidity from another marketplace – Uniswap.

Sam Bankman-Freed, head of FTX cryptocurrency exchange, announced this on his Twitter page..

SushiSwap withdrew over $ 800 million ...

Join our telegram channel to keep abreast of the main trends in the crypto market.

SushiSwap decided to withdraw liquidity that was previously held in Uniswap in order to reduce commission costs.

The liquidity migration itself occurs earlier than planned.

This decision was made by Bankman-Freed, whose exchange received control over the project after the anonymous creator of SushiSwap unilaterally sold all of its assets worth more than $ 8 million, collapsing the SUSHI token rate by more than 50%.

Inconspicuous elephant

It is noteworthy that against the background of liquidity withdrawal, the volume of assets blocked in Uniswap fell by almost half to about July values.

Source: defipulse.com

According to DeFi, Decentralized Finance (DeFi) is a financial service built on blockchain technology that offers users access to an open, efficient and … More Pulse, as a result of the liquidity migration, the amount of funds blocked in Uniswap per day has collapsed by almost 70% ($ 450 million).

Learn how to trade in the cryptocurrency market with BeInCrypto partner – the StormGain cryptocurrency exchange

Thanks to SushiSwap, Uniswap even managed to overtake the centralized exchange Coinbase Pro in trading volume at its peak..

SushiSwap withdrew over $ 800 million ...

Source: coingecko.com

However, even though SushiSwap was handed over to the FTX management, who decided to continue on the path to the natural development of the ecosystem, the token As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More SUSHI was unable to recover to previous levels.

At the time of this writing, the price of SUSHI / USDT is $ 2.72.

What do you think? Share your thoughts with us in the comments and join the discussion in our Telegram channel.

Disclaimer

All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..

Share Article

Similar articles

  • SushiSwap failed to become a Uniswap “killer”

    SushiSwap Fails to Become a Uniswap “Killer” CONTENTS Decentralized Protocols Clones Fail The Fork is now a new form of protest in…

  • Adam Back saw the similarity of the SushiSwap dump with Litecoin and XRP

    Adam Back saw the similarity of the SushiSwap dump with Litecoin and XRP CONTENTS A well-known cryptographer believes that over a dozen crypto projects have the same scheme…

  • Bitcoin took John Lennon’s son beyond the physical world

    Bitcoin took John Lennon’s son beyond the physical world CONTENTS John Lennon’s son believes Bitcoin helps overcome the limitations of the physical…

  • Coinbase Custody is exploring over 30 cryptocurrencies listing

    Coinbase Custody Examines Listing Over 30 Cryptocurrencies CONTENTS Coinbase Custody Announces Examination of 37 Assets for Listing…

  • Project SUSHI has a new master chef

    The SUSHI project has a new master chef CONTENTS The creator of SushiSwap has transferred control over the project to the head of the FTX cryptocurrency derivatives exchange. Course…

Similar articles