This simple comparison will reveal how SushiSwap is undervalued as compared to UniSwap as of now especially when the market is irrational.
A few days ago, UniSwap ended its UNI rewards program and a lot of liquidity has moved over to SushiSwap.
At the time of writing, the TVL and daily of UniSwap are $1.62B and $247M respectively whereas those of SushiSwap are $1.05B and $90M.
However, the ratio of the diluted MCap is only about 0.1 or 10% in percent. This indicator will show the ratio in percent, 10% here at the moment.
This is a recap of both AMMs stats.
- UniSwap: 1B
- SushiSwap: 250M
Supplied so far:
- UniSwap: 215M (21.5%) => 78.5% of the total supply still has to be supplied!
- SushiSwap: 155M (62%) => Only 38% of the total supply remains!
UniSwap will be strongly around as the first mover in the AMM area. With all upcoming innovations delivered by SushiSwap, it will be interesting to see SushiSwap's valuation
SushiSwap is an automated market making ( AMM ) decentralized exchange (DEX) currently on the Ethereum blockchain.
It is a community run project.
Despite all the dramas, SushiSwap has continued to deliver value to the market with solid leadership and competent core devs. A lot of innovated features are coming.