 | SushiSwap Moon Liquidity has been absolutely insane the last few days. Yesterday we broke the prior record of ~$158K worth of trades in one day, with a new record of ~$246K in one day. Today total volume on Sushiswap surpassed yesterdays new record by over 5x, at ~$1.3M. In fact todays record candle makes the entire historical Volume chart look broken Think about that for a second, $1.3M in Moons were traded on Sushiswap today alone. At the current price of Moons ($.37) that 3.7M Moons trading hands over the last 24 hours just on SushiSwap. (4-5% of the circulating supply of Moons not considering Reddits stash) Due to this absolutely insane volume. APY for Liquidity Providers on Sushi is currently at ~251% There is bittersweet solace to this, because Liquidity Providers are getting wrecked by Impermanent Loss with two B2B, 100% gain day. ...... A few weeks/months ago Redditors said Moons could never be listed on a major exchange because they don't list coins with such low volume - at that time SushiSwap was getting $3-$30K a day in volume, but everything changed when Reddit updated their TOS to say that Moons could be traded. I have to think if more exchanges list Moons *cough cough\* Kraken *cough cough\* this insane volume will continue for the short term. Let's see what happens. [link] [comments] |
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