Sudowap Struggles as User Activity Continues to 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
Interpret the above information:
The latest data on Sudowap, a decentralized exchange operating on the Binance Smart Chain, shows that the platform is facing a significant decline in user activity. Despite celebrating a milestone of over $100 million in cumulative transaction volume, Sudowap has seen a steep drop in its user base since February 2023.
According to Dune Analytics, Sudowap had been adding an average of 800 users per day in August 2022. However, the average daily influx of new users since February 2023 has been fluctuating between 20 and 50 users, hitting a new low of 19 on February 23. The decrease in the number of daily transactions and NFT transactions on the platform can be attributed to this decline in user activity.
Since August 2022, there has been a dramatic 93% drop in the number of daily transactions completed by the Sudowap agreement. Similarly, the number of NFT transactions conducted by users on Sudowap per day has decreased by a staggering 96% over the same period.
These statistics suggest that Sudowap is struggling to maintain its position in the competitive world of decentralized exchanges, and it is likely that the platform will continue to decline unless measures are taken to reverse the trend. The company’s revenue seems to be taking a hit as well, with the total fee charged by Sudowap in the past 30 days being $286,000, which is down by 8%. Moreover, the agreement revenue has decreased by 28% during the same period.
In conclusion, the declining user activity and transaction volume on Sudowap are alarming trends that require immediate attention. Sudowap needs to re-imagine its business strategy and come up with ways to attract more users to its platform. Achieving growth and maintaining profits in the highly competitive space of decentralized exchanges is challenging, but not impossible, and Sudowap must find a way to rise to the challenge if it hopes to stay relevant.
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