SushiSwap registers increase in turnover with the resurgence of DeFi

DeFi markets seem to be rejuvenating with strong upward momentum after several weeks of inactivity

In addition to the DeFi boom recovery, the use of decentralized scholarships has also begun to soar. The total blocked value (TVL) in DeFi has risen 31.6% in the last four days, jumping from $14.26 billion on New Year’s Day to $18.81 billion at the time of writing. Only two of the top ten projects, in terms of blocked value, have a negative change of 24 hours, according to DeFi Pulse.

Curve Finance, in seventh place, fell 1.27%, while RenVM, a position above tenth place, annual finances fell 2.91%. Maker had the biggest positive jump with 31.71%, followed by Uniswap and Synthetix with 27.27% and 23.84%, respectively.

SushiSwap’s trading volume surpasses the previous ATH

Turnover on Uniswap’s rival project, SushiSwap, reached a new record of $355 million, according to DeFiance Capital analyst Darryl Wang. The analyst reported yesterday that the remaining seven-day volumes had reached $1.26 billion. Further analysis of these figures revealed that SUSHI participants were accumulating $33 million in annual fees.

„For his information, SushiSwap has just broken its daily ATH trading volumes by one kilometer. The 7-day volumes are now at ~ $1.26 billion. On an annual basis, xSushi stakers are earning $33 million in fees. This puts the $SUSHI at 13x behind the PE (16x FDV),“ observed Defiance’s capital allocator on Twitter.

In the wake of these developments, the total value blocked in the protocol has exceeded $1.4 billion today – an increase of 19.34% in the last 24 hours. SushiSwap TVL was just under $1.1 billion at the end of last year and has since increased 28%.

Camp SushiSwap users have more to look forward to as the project is expected to announce its plans for the year in the coming weeks. The announcement can bring additional information about the money market solution BentoBox.

There are also rumors of an anticipated v2 SushiSwap in the coming months. While the specific impact of this latest event is not clear at the moment, experts predict a strong positive push for SushiSwap following the announcement of BentoBox.

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