April 16, 2021, 6:05AM EDT
• 8 min read

A close look at trading volumes on Uniswap and SushiSwap

Quick Take

  • Upcoming DEX updates will lead to an increased userbase and capital efficiency.
  • A small part of Uniswap’s volume was generated as a result of wash trading.
  • Retail users still create most of the trading volumes on Uniswap.
  • SushiSwap is very capital ineffective in its current implementation.
  • Bots are already starting to play the leading role in SushiSwap’s trading volumes.

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