SushiSwap withdrew over $ 800 million …


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SushiSwap withdrew over $ 800 million ...

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

  • 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%

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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 ...

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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.


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).

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

SushiSwap withdrew over $ 800 million ...


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.

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