SideShift.ai Weekly Report | 18th - 24th March 2025
Welcome to the one hundred and forty-sixth edition of the weekly stats report - your one-stop shop for all things SideShift.ai.
This past week, SideShift token (XAI) traded within a narrow and steady band, hovering close to the $0.14 mark. Its 7-day price range saw minimal deviation, with the current price resting at $0.1413. At this level, XAI has a market cap of $20,704,369, representing a slight dip of -0.32% from the previous week.
XAI stakers earned an average APY of 9.16% throughout the week. The highest daily rewards were distributed on March 20, 2025, when 42,778.91 XAI (APY of 12.64%) were deposited directly to our staking vault following a daily volume of $2.72m. XAI stakers received a total of 220,161.20 XAI or $31,108.55 in rewards throughout the week.
Additional XAI updates:
Total Value Staked: 131,578,911 XAI (+0.3%)
Total Value Locked: $18,372,166 (-0.6%)
General Business News
Crypto markets flipped upward this week as BTC briefly surpassed $88k, rebounding sharply from its $77k low just two weeks ago. Sentiment is improving, with the Fear & Greed Index climbing to 34/100, while top coins like SOL and AVAX enjoyed double-digit gains alongside growing positive momentum. Despite the broader rally, Bitcoin dominance remains firm near 60%, underscoring its continued strength at the center of market attention.
SideShift closed the week with a gross volume of $12.3m (-12.3%), marking a slowdown from the previous period. Of this, $9.0m came from user shifting while $3.3m was attributed to liquidity provider rebalancing, which accounted for a slightly lower 27% share of total volume. The average shift size dipped to $1,716 (-15.5%), reflecting a week defined by smaller shift sizes despite a steadier flow. BTC/USDT (ERC-20) led all user pairs with $744k, edging out BTC/ETH, which followed with $651k.
Shift activity saw a modest increase, with a total count of 7,198 shifts (+3.8%). However, this remains -36% below our running YTD average of ~10,800 shifts per week, and sits near levels that have only occurred a handful of times over the past year. Even so, volume remained comparatively stable, suggesting a consistent level of smaller-scale user activity.
BTC held the top spot with $4.8m in total volume, though it was one of the few coins to record a decline, falling -33.6% week-on-week. Alongside stablecoins, BTC was among the biggest losers, reflecting a clear pivot away from risk-off assets. While user deposits climbed +24.3% to $2.2m, this was offset by a sharp -54.1% drop in settlements to $1.6m, suggesting users were shifting out of BTC rather than into it. The week’s top user pairs - BTC/USDT (ERC-20) and BTC/ETH - further highlighted this imbalance.
SOL climbed to second place with $2.9m in total volume (+46.9%), marking the strongest gain among top coins and rebounding hard off last week’s multi-month low. The surge was driven by a +76.2% jump in settlements to $1.2m, which reinforced demand to receive the coin. Meanwhile, deposits rose to $973k (+15.4%), though the bias remained fairly one-sided for the time being.
ETH followed just behind with $2.6m in total volume (+10.3%) but slid back beneath SOL - a trend seen for the better part of the past few months after briefly flipping it last week. ETH activity was led by outbound shifts, with settlements climbing +28.0% to $1.1m, which helped offset a -16.8% ($843k) dip in deposit volume and kept ETH comfortably in the top three.
Notable mentions outside of the top 5 include BNB, which saw a strong uptick in user activity, recording $677k in deposits (+281.5%) and $727k in settlements (+319.1%). TRX also made a significant comeback from last week’s lows, with deposit volume jumping to a modest $145k (+221%) and settlements surging to $418k (+1,226.4%), making it the week’s most improved performer.
This week’s breakdown of high-value activity reflected some interesting movements across the upper tiers. The number of shifts valued above $10k rose +8.2% to 291, showing a slight uptick in mid-to-large sized transactions. Conversely, the top bracket of shifts over $20k saw a minor decline in count, falling -6.8% to a total of 152. Despite this, these larger whale-level swaps still accounted for a substantial portion of volume, combining for $4.91m. That figure, however, represented a significant -21.8% drop compared to the previous week, suggesting that while larger transactions remain present, their individual sizes may have slightly decreased.
This week saw a clear rebound across alternate networks to Ethereum, with many enjoying double-digit growth as positive market sentiment drove users to shift out of BTC and into other assets. The Solana network led the group with $3.9m (+18.6%), finishing first by a considerable amount, but not like the wide margin it had created earlier in the year. TRON followed with $2.6m (+5.2%), maintaining its strong presence, while the BSC network climbed to $2.5m and stood out with the largest percentage increase of the week at +143.8%. The BASE network also gained traction and recorded $684k (+64.4%), overtaking Polygon, which slipped -4.7% to $329k. Together, alternate networks totaled $10.5m in volume (+32.1%), marking a healthy recovery from last week, though volumes still trail the higher peaks seen in prior weeks. Meanwhile, the ETH network saw $7.5m in total volume, down -14.3%, keeping its share steady at around 30% of total volume.
Affiliate News
Affiliate activity slowed notably this week, with the combined volume from our top affiliates finishing at $3.26m - exactly -50% lower than last week’s total. Their collective share of total volume also fell to 26.4%, down from a significant 46.2% last week. Despite the decline, there was no change in the ranking order. Notably, our second place affiliate bucked the broader trend to close the gap, rising +15.6% to $756k, while first place tumbled to $1.38m (-69.6%) and third place dipped to $401k (-23.2%).
That’s all for now. Thanks for reading and happy shifting.