The crypto-market seems to be stabilizing of late, despite an increase in the Fed’s interest rates. DEXs are also beginning to see a resurgence after TVLs hit record lows in Q2 of 2022. SushiSwap too has been revelling during this period of recovery, with the DEX seeing a major shift in total value locked over the month.SushiSwap noted an uptick in its DeFi holdings during July with over $133 million added.
Worth pointing out here that there are several reasons behind the rapid increase in interest in SushiSwap of late.for the launch of the Sushi Guard Router earlier in July. The proposal has been welcomed by SUSHI users and is undergoing implementation. Around 6 million validators accepted the proposal while 467 negated it. The launch will help in MEV protection at the protocol level for SUSHI users. It will also improve gas efficiency which will make swaps cheaper than before.
Development updates are being rolled out to ensure a user-friendly experience. Furthermore, SushiSwap recentlyThe growing prominence of the DEX has not gone unnoticed by the market. In the past 24 hours alone, SUSHI is back among the top 100 Ethereum whales, as🍣 SUSHI, anyone?