TribalDex Still at 40M Liquidity

 

Two weeks ago we had a look at TribalDex

We saw that liquidity went up 10x in one day without any apparent news event. Since then I saw some others making a post about it as well, but so far it seems that someone or a small group really did add ~70M in liqudity to the Axie Infinity token pools.

Back then the pools looked like this:

Since then things have changed a bit. Total liquidity went down to about 40M and volume went down as well interestingly (not on daily, but on the weekly scale):

The liquidity in the pools now is quite different as well. The two top ones with the Axie Infinity tokens have dropped by almost half. The Hive:DEC pool is now on rank 3 and the DEC:SPS pool lost in liquidity and is now ranked 5, although all pools lost some liquidity.

What happened?

We still can't say for sure why the total liquidity sky rocketed several weeks ago. Since then it dropped by almost 50%, but seems to be dropping a bit slower now. Interestingly, volume did not increase as I was expecting. In fact, it is at background levels again, although liquidity is still much higher than it was before. It would be good overall if TibalDex could maintain some of the higher liquidity as it is good exposure for the Dex. But even if it continues to drop, it will probably be increasing again when macro market conditions improve.

 

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