Long-Term SUSHI Holders Are Jumping Ship After SEC Subpoena

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Santiment tweeted their latest Insights relating to SUSHI this morning.
The report showed that long-term SUSHI holders are closing their positions in SUSHI.
Goldentree recently capitulated more than 5.9 million SUSHI according to the report.

Santiment shared their latest Insights via a tweet this morning. The report relates to SushiSwap (SUSHI) after the decentralized exchange was recently served a subpoena by the Securities and Exchange Commission (SEC).

According to the report, things are not looking too great for the decentralized platform as SUSHI’s TVL dropped by 93% ever since the collapse of FTX around mid-November of last year. The report stated that SUSHI’s TVL currently stands at around $581.47 million.

Sushi protocol activity (Source: Dappradar)

Dappradar data shows that SUSHI’s protocol usage seems to be struggling in the last year. The report analyzed the number of unique active wallets (UAW) interacting or performing a transaction with the dapp’s smart contracts. This analysis showed that the average number of UAW has remained relatively low with little growth over the past few months.

The report also highlighted the number of SU…

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