Sudowap transaction volume reaches milestone, but user activity on the decline
It is reported that although the cumulative transaction volume of Sudowap has exceeded the milestone of US $100 million, the data shows that the activity of Su…
It is reported that although the cumulative transaction volume of Sudowap has exceeded the milestone of US $100 million, the data shows that the activity of Sudowap users has continued to decline. According to Dune Analytics, in August 2022, Sudowap added more than 800 users per day on average. However, since the beginning of February 2023, the average number of new users per day of the platform has fluctuated between 50-20, and on February 23, it hit a new low of 19. The number of daily transactions and NFT transactions decreased due to the decrease of user activity on Sudoswap. Since August 2022, the number of daily transactions completed by the agreement has decreased by 93%, and the number of NFT transactions conducted by users on Sudoswap per day has decreased by 96% during the same period. In addition, the total fee charged by Sudoswap in the past 30 days was US $286000, down 8%, and the agreement revenue decreased 28% in the same period. （ambcrypto）
The data shows that the user activity of Sudoshap is declining continuously
Interpretation of the news:
The message discusses Sudowap’s milestone of reaching over US $100 million in cumulative transaction volume. However, despite achieving this milestone, the platform’s user activity has continued to decline. According to data from Dune Analytics, the average number of new users joining Sudowap per day has fluctuated between 50-20, and on February 23, it hit a new low of 19. This decline in user activity has also affected the number of daily transactions and NFT transactions, which have decreased by 93% and 96%, respectively, since August 2022.
One possible reason for the decline in user activity could be due to increased competition in the market. As more decentralized exchanges and NFT marketplaces emerge, users may have different preferences and opt to use other platforms instead. Another possible reason could be due to technical issues or shortcomings that may be affecting the user experience.
The message also mentions a decrease in the total fee charged by Sudowap in the past 30 days, which was down 8%. This decrease in revenue could be attributed to the decrease in user activity and lower transaction volume on the platform.
In conclusion, while Sudowap has achieved a significant milestone in terms of transaction volume, the decline in user activity on the platform indicates that there may be underlying challenges that need to be addressed. It remains to be seen whether Sudowap can continue to compete in the decentralized exchange and NFT marketplace space, or whether it will need to make significant changes to remain relevant.
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