SushiSwap’s decentralized exchange (DEX) aggregator has emerged as a major player in the DeFi ecosystem, now spanning over 40 blockchain networks.
Since @DefiLlama began tracking its performance in July, SushiSwap’s monthly trading volume has skyrocketed, growing from $100 million to over $400 million. In just five months, the platform has facilitated over $1 billion in total trading volume.
November proved to be a landmark month, with SushiSwap achieving an all-time high of $407 million in trading volume. This represents an impressive 70% increase compared to October, highlighting the aggregator’s growing influence in the DeFi space.
Trader Makes Strategic Gains From Trading $SUSHI
Amid this surge, a trader recently secured a remarkable profit from SushiSwap’s native token, $SUSHI. About 10 minutes ago, an address transferred 1.5 million $SUSHI (valued at $2.01 million) to Binance for sale. The trader initially withdrew 1.568 million $SUSHI from Binance on August 9 at a price of $0.58 per token. After holding the tokens for four months, $SUSHI’s price surged to $1.36, prompting the trader to sell and lock in a 134% gain. This successful trade is expected to generate a profit of $1.17 million.
SushiSwap’s rapid growth and consistent adoption across multiple networks have solidified its position as a leading DEX aggregator. With rising monthly volumes and notable profitability for its users, the platform is cementing itself as a key player in the evolving DeFi landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.