SideShift.ai Weekly Report | 11th

Welcome to the one hundred and forty-fifth edition of the weekly stats report - your one-stop shop for all things SideShift.ai.

SideShift token (XAI) spent the past seven days moving within a range of $0.1421 - $0.1597, with its sharpest decline occurring mid-week. Since then, price action has remained relatively flat, with XAI continuing sideways or slightly downwards, to its current price of $0.1417. XAI now holds a market cap of $20,771,295, an -11.2% decline as compared to last week's total.

XAI stakers earned an average APY of 7.65%, with the highest single-day staking reward occurring on March 18th, when 32,386.18 XAI was distributed to the staking vault following a daily volume of $2.03m. In total, XAI stakers received 185,396.92 XAI, or $26,237.55 USD in rewards throughout the week.

Additional XAI updates:

Total Value Staked: 131,219,136 XAI (0.0%)
Total Value Locked: $18,476,037 (-12.2%)

General Business News

BTC hovered around $83k this past week, moving sideways as it tried to find its footing following weeks of heavy sell pressure and bearish sentiment. The broader market remains cautious, with the Fear & Greed Index at 25/100, but some relief rallies emerged after a prolonged downturn to start the year. BNB and LINK led top coins with gains exceeding 10%, while TON climbed over 30%, capitalizing on a long-overdue rebound as buyers stepped back in.

After last week’s record surge in shift count, with a massive total of 15,643 shifts processed, this week saw a notable decline to just below 7,000 (-55.7%) as the action around VERSE token simmered down. This marked our lowest weekly shift count since October 2024, but unlike then, when gross volume totaled $8.6m, this week’s figure was over +65% higher, highlighting the significantly larger average shift size.

Gross volume remained far more resilient, closing at $14.1m (-26.4%). While lower than last week, it was still a strong outcome given the sharp decline in shift count. The average shift size rose to over $2,000 and showcased a week defined by fewer, but evidently larger shifts. This volume stemmed from $14.1m in user shift volume, alongside $3.97m in liquidity shifting, both of which saw declines of roughly -25%. Notably, USDT(ERC-20)/BTC emerged as the top-shifted pair among users, generating $1.16m and overtaking its inverse pair, which had led for the past three weeks.

Interestingly, the overall -26% decline in volume was evenly distributed across both large and small shifts, with transactions over $1,000 and those exceeding $20,000 falling at a similar pace. Notably, shifts under $100 saw the steepest drop, collapsing from over 9,000 last week to below 3,000 (-69.8%), their lowest level this year. This sharp decline is clearly illustrated in the chart below, which shows both volume and count of sub-$100 shifts plunging in tandem after last week’s peak.

With sideways-to-downward market volatility throughout the week, BTC emerged as the preferred safe haven for users. User settlement volume climbed to $3.5m (+3.6%), making it the only top coin to see an increase in demand. This marked an eight-week high for BTC settlements, as user buying spiked during its dip to $80k near the end of last week.

Meanwhile, USDT on the Ethereum network saw the highest deposit volume of any stablecoin so far in 2025, totaling $1.8m (+82.0%), the only top coin to record a deposit increase. The influx of stablecoins was primarily shifted to BTC, as users rushed to buy the dip. In contrast, user BTC deposits fell -30.8% to $1.76m, while ETH deposits dropped -23.8% to $1.05m. SOL, meanwhile, continued its sharp decline and fell -44% to $1.99m, extending its total volume slump for a fifth consecutive week. Compared to just two months ago, this week’s total volume now sits at just 10% of that previous high.

With USDT (ERC20) securing the top spot for deposit volume, stablecoin flows shifted significantly into net positive territory this week. This trend, which could be interpreted as bullish, was not limited to Ethereum-based USDT, as other stablecoins also saw notable increases. USDT on the Liquid network advanced past $100k (+46.2%), while USDC on Ethereum jumped +19.4% to $526k. Even USDT on Avalanche, which typically sees minimal activity, recorded volume in the tens of thousands rather than mere hundreds. Net stablecoin flows (inflows - outflows) measured +$825k, marking one of the few times this metric has been positive and reflecting a dramatic $2.46m swing from last week's -$1.63m. This shift was driven by both an increase in stablecoin deposits and a decline in settlements, with the latter playing a more significant role in pushing net flows into positive territory, as seen in the chart above.

Alternate networks outside of Ethereum faced steep declines this week, with total volume across alternate networks plunging -43.6% to $7.96m. The Polygon network suffered the heaviest hit, collapsing -81.1% to $345k, a sharp reversal from last week’s $1.83m. Meanwhile, the Solana network saw the largest absolute drop, shedding $2.6m to finish at $3.3m (-44.4%). Other major networks also struggled, with Avalanche (-67.2%) and Arbitrum (-54.5%) both losing more than half of their previous volume, while even the typically resilient Tron network fell -31.3% to $2.47m. The only outlier was the BLAST network, which recorded a +23.7% increase, albeit from a much smaller base.

Ethereum, in contrast, remained relatively stable with $9.29m in total volume, down just -7.3%. This allowed it to increase its share of overall network volume to 32.9%, up from 26.1% last week. Ethereum network shifts also grew significantly as a proportion of total shift count, highlighting its steady presence amid broader declines.

In listing news, SideShift added support for HYPE on HyperEVM this past week, which is now live for shifting with any of our 200+ supported assets.

Affiliate News

Affiliate-driven volume moved in step with the broader market slowdown, declining -23.4% to $6.52m, closely mirroring the drop in total volume. Despite this, the proportion of affiliate-driven shifting edged higher to 46.2% (+4.0%), reflecting a steady presence even as overall activity cooled. Our top affiliate retained its position and was one of the few to see growth, climbing +11.0% to $4.58m. Meanwhile, last week’s second-place affiliate saw volume retreat to $654k (-69.1%) in wake of last week’s surge, allowing third place to close the gap, despite also slipping -38.2% to $522k.

That’s all for now. Thanks for reading and happy shifting.