• SushiSwap has seen an increase in deposits despite potential investigation by the SEC.
• The sentiment around the project is optimistic, with TVL increasing by 12.04% on a monthly basis and social volume rising to 46.66 within the last 24 hours
• The SushiSwap community showed their support for the legal proceedings with 77% of voters in favor of it.

SushiSwap Sees Increasing Deposits Despite Potential Probe

Monthly TVL Increase

Between 21 March and the time of writing, activities on the SushiSwap [SUSHI] protocol remained increasingly steadfast. Surprisingly, this has been the case despite a recent revelation that the Automated Market Maker (AMM) could face the wrath of the ever-lurking SEC. According to DeFi Llama, SUSHI’s TVL had increased by 12.04% on a monthly basis. The TVL is a metric used to measure the overall health of a protocol; higher TVL means more assets are locked into its ecosystem.

Positive Sentiment

Despite potential legal issues, SushiSwap resisted a drop in unique deposits into its 24 chains under its belt. Additionally, Jared Grey’s revelation drove high search rankings for it on 21 March according to blockchain validation hawkshaw Santiment; social volume rose to 46.66 within this period while weighted sentiment also increased to 0.246 – indicating positive feeling towards SUSHI from its community members. Furthermore, active addresses on SushiSwap network increased to 484 in last 24 hours – showing an increase in number of participants than before.

Community Support

Voting from Jared Grey’s communique indicated that 77% of voters supported proposal for legal proceedings; implying resolute support from community members towards project despite potential investigation by SEC.

Price Analysis

Realistic or not, here’s how much 1, 10 and 100 SUSHIs were worth at press time: • 1 SUSHI = $24 USD • 10 SUSHIs = $240 USD • 100 SUSHIs = $2 400 USD

Conclusion

The data indicates that despite potential SEC probe into activities related to AMM provided by SushiSwap protocol – sentiments remain positive towards project as evident through increasing monthly TVL, weight sentiment and active addresses over past 24 hours; these all suggest healthy level of deposits into platform which have been further legitimized through voting results from communique released by CEO Jared Grey indicating 77% approval rating for proposal regarding legal fundraising efforts made by project team