Our objective with this article is to compare the daily Total Value Locked (TVL) on Uniswap and Sushiswap over the last 3 months.
As we all know , The term TVL, or total value locked, basically refers to the spot value (normally expressed in USD) of all assets staked in an account. It is often used as an indicator of the health of an account.
As you can see from the below graph, we can see daily TVL of Sushiswap over the past three months. Observations of major TVL values of 4.29B were recorded on November 25, 2021, while recordings of minor TVL values of 1.86B were recorded on January 27, 2022. According to the last three months of data, there has been a 40% drop in total TVL from November 18, 2021 to February 15, 2022. Thus, we can say that TVL is on a downward trend.
We can observe daily TVL of Uniswap V2 from the below given graph. Maximum TVL of 9.83B was observed on December 27, 2021, and minimum TVL of 5.23B on January 27, 2022. Over the past three months, Total TVL has decreased by more than 30% from November 18, 2021 to February 15, 2022. Uniswap V2 TVL is increasing frequently during the month of Dec 2021, but gradually it is showing a decreasing trend. However, on Jan 19,2022 we can see a large spike in TVL. Once again we can see the trend is in the downward direction. Furthermore, we can consider that the TVL overall has been declining.
According to the graph below, the maximum TVL of Uniswap V3 was recorded on January 14, 2022, and the minimum TVL was recorded on January 7, 2022. Based on the TVL of the past three months of Uniswap V3, the Total TVL increased by 19% from 3.61B on November 18, 2021 to 4.31B on February 15, 2022. Therefore, we can say TVL shows an increasing trend on Uniswap V3.During December 2021, Uniswap V3 TVL showed a significant increase. However, it is continuing to rise steadily.
By comparing Sushiswap’s TVL to Uniswap V2 TVL, we can see that both are in a similar trend. That also means that if we look at the last three months, both TVL’s are directly proportional.
We can see from the below graph that the TVL of Sushiswap and Uniswap V3 have not been very closely correlated in the past three months. We see Sushiswap’s TVL trend is decreasing, whereas Uniswap v3 TVL’s trend is in the increasing direction.
From the above graph, we can see the differences between the TVL on Sushiswap , Uniswap V2 and Uniswap V3 for the past three months. As we discussed above, while Uniswap V3 TVL had an increasing trend, TVL for both Uniswap V2 and Sushiswap has been decreasing for the past 3 months.
The TVL of Sushiswap is in decreasing trend . An the Uniswap V3 TVL’s trend is in increasing trend over the past 3 months period.In UniSwap v3, introduced a new concept called ‘Concentrated Liquidity,’ which allows each user to allocate granular control over price ranges. Each position is aggregated into a single pool, forming one combined curve that allows users to execute trades against. Due to this feature which is attracting the more TVL, we may take into account this option.
SUSHI’s price dropped more than 50% from the past 2 months due to the downgrade of the crypto market. It can be seen as a factor in the overall decline in Sushiswap TVL over the past 3 months .