This Little Known DeFi Token Is Attracting Investors – Find Out Here
2022年10月7日 - 5:50PM
NEWSBTC
This DeFi token, which only ranks 138th among cryptocurrencies
according to total market capitalization, is starting to make some
real loud noise in the crypto space this ‘Uptober.’ Even though the
market continues to struggle to recover from its dismal September
performance, SUSHI – the native token of SushiSwap – is making
impressive leaps over the past couple of days. At press time,
according to data from CoinGecko, SUSHI is trading at $1.33 and has
been up by 3.5% for the past 24 hours. It currently carries a 20.1%
price increase for the past seven days while its performance for
the past 30 days has been equally impressive, recording a 15.5%
uptick in value. While it is still in the lower ranks of
cryptocurrencies due to its $255 million market cap, SUSHI is
currently the subject of tremendous interest among investors.
Related Reading: Hedera: Investors Should Check Out These Data
Before Buying HBAR SUSHI Sounds Delectable To GoldenTree Asset
management powerhouse GoldenTree recently announced it has invested
$5.3 million to SUSHI – a move that was instrumental for the
governance token’s recent bullish rally. During a SushiSwap forum
held last Wednesday, the firm admitted they have been following the
digital asset for a while now and that they are more excited about
it with the upcoming rollout of their crypto-focused GoldenChain
Asset Management Arm. GoldenTree went on to say that the crypto
asset has incredible potential and that it “represents the best of
DeFi, both in origin and in community.” The $50 billion privately
owned asset manager has full trust in SUSHI as it iterates and
innovates “without artificial barriers to completion.” DeFi Token
No Longer Just A Clone As a digital token, SUSHI had a hard time
earning respect from crypto aficionados as it was created as a copy
of Uniswap. Although it attempted to be better than the asset where
it was based through liquidity mining and governance features, the
token ended up lagging behind its competitors. But the $5.3 million
GoldenTree investment speaks volumes of how much interest the
digital currency is now commanding. The multi-billion dollar
company did not dismiss the challenges that plagued SUSHI in the
past but at the same time said they are amazed by the resiliency of
the core team and the asset’s community of supporters.
GoldenTree took notice of the top-tier products that SushiSwap has
built and released, becoming one of their reasons for the
game-changing investment. Related Reading: Polkadot Seeing Lots Of
Development Activity – But Why Is DOT Stuck In The Cellar? SUSHI
market cap at $168 million | Featured image from Japan Centre,
Chart: TradingView.com
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