How Sushiswap V3 (Ethereum) looks today
Decentralized (DEX). Established 2023. Trust rank 334. Reported 24h volume 1.11 BTC.
Coverage: 26 active pairs across 18 tradable assets. Liquidity profile: Low. Concentration: Concentrated. Execution quality: Competitive. Top ten pairs share 99.5%. Key pairs include USDC/WETH, ID/USDC, SPC/USDC, SUSHI/WETH. Leading pair USDC/WETH. Median spread on leading markets 0.66%.
Liquidity structure and trading conditions
Volume mix: WETH is the largest tracked quote currency at about 92.7% of measured flow. Data scope: 30 tickers observed, with spread readings on 30 markets. Trust rank is best read as a positioning cue, and 24h BTC volume complements it with recent activity scale. Coverage describes how many active pairs and tradable assets are available, which influences routing options and price discovery. Concentration indicates how much of the venue depends on its leaders versus a wider set of pairs. Median spread captures the common bid ask distance on top books and helps set expectations for market orders and tight limits. Top ten share is very high here, which can make liquidity feel deep on the leaders while thinner elsewhere. When comparing venues, weigh breadth, concentration, spreads, and the key pairs list to match the venue to your execution style.
Editorial note: This analysis was prepared by the YearBull research team under the direction of Alan Zelvin, Founder and Lead Crypto Researcher. The assessment follows YearBull’s internal research methodology and editorial standards. Methodology · Editorial Policy