How to Swap Sushi [SUSHI] I was able to pull her out before she got cold.

Terra, once priced at $119, has three zeros after the decimal point before numbers appear today. LUNA, trading at $0.0001902, has lost 100% of its value this month.

However, not far from the DeFi section of the cryptocurrency listing is another token that has left investors desperate, despite not having as terribly tanks as LUNA.

SushiSwap’s Titanic

In May 2021, DEX’s token, SUSHI, peaked at $23.93 before the bear market took over, and the altcoin didn’t see another chance to turn the tide.

So within a year the coin switched hands from ATH to $1.02 earlier this month. Down 95.24%, SUSHI investors are suffering bigger losses than most traditional coins.

SushiSwap price action | Source: TradingView – AMBCrypto

However, SUSHI holders were surprisingly optimistic, as on-chain data showed that investors had not yet sold their holdings or left the network.

Despite the fact that 94.66% will not benefit immediately.

ITB sushi historical in out of the money 2022 05 23T08 29 00.609Z

SushiSwap Investor | source: Into the Block – AMBCrypto

Of these 84,000 addresses, 1,03,000 are poor investors who bought during the hype of SUSHI at its peak. Their holdings suffer a solid loss of 95% and may never turn into a profit again.

ITB sushi all time highers lowers 2022 05 23T08 29 17.347Z

SushiSwap holders who bought before or after ATH price | source: Into the Block – AMBCrypto

But it’s not just the spot market that’s seeing a downtrend. With DEX SushiSwap, engagement and usage declined.

At best, in November 2021, nearly 100,000 new users were registered on decentralized exchanges. Since then, that number has dropped significantly.

This month SushiSwap only showed 26.8k new users, and only 32.5k existing users were active in May 2022. Combined, these users represent about half of the new users SushiSwap had in November.

Screenshot 2022 05 23 135749

SushiSwap Monthly User | source: Sand Dunes – AMBC Crypto

Nonetheless, the volatility observed in the market over the past few weeks has prompted many investors, for better or worse, to move their holdings.

As a result, SushiSwap has already seen $3.32 billion worth of assets traded on DEX this month and is expected to attract an additional $1.15 billion before the end of the month.

Screenshot 2022 05 23 135851

SushiSwap Monthly Trading Volume | source: Sand dunes – AMBCrypto

Given the uncertainty surrounding the cryptocurrency market, even DEXs cannot be expected to perform as well monthly as in the case of SushiSwap.

However, if the recovery is triggered, investor activity will also increase.

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