SideShift.ai Weekly Report | 25th - 31st March 2025
Welcome to the one hundred and forty-seventh edition of the weekly stats report - your one-stop shop for all things SideShift.ai.
This past week saw SideShift token (XAI) trade within a relatively narrow band, ranging from $0.1394 to $0.143. After brushing the upper end of that range mid-week, XAI gradually eased lower to close at $0.1404, reflecting a modest -0.4% drop from the previous week. The slight downtrend was echoed in its market cap, which dipped -0.59% to a current value of $20,582,118.
Staking activity remained solid, with our weekly average APY holding at 8.60%. April 1st marked the highest daily rewards output deposited directly to our staking vault, with a total of 34,254.05 XAI. This came as the result of a daily APY peak of 9.96%, alongside a daily volume of $2.3m. All together, XAI stakers received a total of 208,211.78 XAI, or $29,236.48 USD in staking rewards this week.
Additional XAI updates:
Total Value Staked: 131,793,010 XAI (+0.2%)
Total Value Locked: $18,455,014 (+0.5%)
General Business News
A red week for the market saw BTC slide -3.3% to close at $81.5k, while ETH declined nearly -10% to $1,855. Broader weakness extended across altcoins, with memecoin interest fading, while conversely, stablecoins gained traction as traders took a more cautious stance. Meanwhile, Hyperliquid drew attention after its volume dropped sharply and the platform faced backlash over its handling of the JELLY token incident.
SideShift recorded a gross weekly volume of $12.8m (+3.5%), landing just slightly above last week’s total. Volume attributed to liquidity shifting dropped -14.4% to $2.8m, meaning that user volume was the clear driver behind the increase, rising +10.1% to finish just shy of $10m. An interesting observation this week is how closely aligned deposit and settlement volumes were for top coins, which contributed to the reduced need for inventory rebalancing. This tighter balance between deposits and settlements helped lower our reliance on liquidity shifts - and as a result, kept overall volume growth more modest despite increased user activity.
Our weekly shift count saw a similar boost, increasing +13.1% to 8,142 shifts. However, with total volume rising at a slightly lower pace, the average shift size declined -8.5% to $1,570. This drop suggests more frequent, lower-value shifts controlled the week - a continuation of last week’s behavioral trend. Combined, these metrics reinforce that SideShift users remained active and engaged, but with shifting preferences across different assets.
BTC was the clear volume leader this week, finishing with a total of $6.8m. This was fueled by strong activity on both sides of the shift flow, with deposit volume up +44.2% to $3.4m and settlement volume up +41.5% to $3.4m. The balance between these sides shows how equally users were shifting into and out of BTC. Notably, BTC was featured in both of the week’s top user shift pairs - BTC/USDT (ERC20) with $1.1m and ETH/BTC with $901k - which together accounted for over $2m in user-driven volume.
USDT (ERC20) followed in second place with a total volume of $3.7m. Similar to BTC, it saw highly symmetrical user activity, with deposit volume totaling $1.7m (+38.3%) and settlements slightly ahead at $1.9m (+38.2%). As compared to other stablecoins, this week’s volume was notably concentrated in USDT (ERC-20), as its total volume surpassed that of all other top stablecoins combined. Behind BTC, it recorded the highest weekly gain among our top coins.
ETH placed third with a total volume of $3.3m, comprised of $1.8m in deposits (+33.3%) and $1.6m in settlements (+20.4%). These sums resulted in another relatively solid week for ETH shifting, especially considering the sluggish price action. Conversely, SOL was the week’s biggest disappointment, finishing fourth with just $2.6m (-11.1%) in total volume and showing declines across both user deposits and settlements. This week’s SOL total ended as the second lowest weekly performance so far in 2025.
ETH network shifts totaled $7.0m this week, adding another ~$1m (+15.6%) and drawing clear momentum away from alternate networks, which combined for just $7.9m - a cumulative drop of -24.3% and sliding to their lowest total in several months. The Solana network still led the group but declined -12.3% to $3.4m, while the TRON network followed with $1.9m (-26.6%). Binance Smart Chain was hit the hardest, falling -51.5% to $1.2m, whereas the Polygon network stood out as the only alternative to post a meaningful gain, increasing +22.6% to $404k. Other networks including Base, Arbitrum, and AVAX also recorded steep declines, while OP and Blast remained insignificant despite small upticks.
A quick reminder that SideShift’s Telegram Bot is now live. Shifts have been steadily trickling in, with a handful occurring each day and combining for a few thousand dollars in volume. Users are encouraged to give it a try, and we welcome any feedback as we continue refining the experience.
Affiliate News
This week marked a strong rebound for our top affiliates, with combined volume climbing +68.5% to $5.49m - a return to the more typical range seen throughout the year. All three of our leading affiliates saw meaningful increases, with our first place affiliate holding onto the top spot and boosting volume +75.4% to $2.43m. Their shift count rose a near identical +77% to 649 shifts. Our second place affiliate surged +270.8% to $1.49m, regaining momentum after a quiet showing last week. Meanwhile, third place remained steady as ever, recording a respectable 1,095 shifts (+5.7%) alongside $810k in volume.
Altogether, the top three affiliates accounted for 43% of total weekly volume, up significantly from 26.4% the week prior.
That’s all for now. Thanks for reading and happy shifting.