Sushiswap (Up 31%) Sets New All Time High Of Almost $14
Two weeks ago, we already mentioned that (formerly notorious) DeFi coin Sushi seemed to be making a comeback and had been steadily climbing up the charts again. By now, the coin keeps setting new record all time highs and is getting raving reviews for it’s performance both in staking and for gaining market share on the DEXs (decentralized exchanges).
A couple of hours ago SushiSwap set an all time high of $13,77. The price is currently up 31% and is trading around $12,60.
- Trade SUSHI on Binance including a lifetime 20% fee discount.
Things seem to be looking up for Sushi ever since they agreed to work together with Yearn Finance’s Andre Cronje. Furthermore, the ownership of SushiSwap has recently been passed to Sam Bankman-Fried, CEO of derivatives exchange FTX who we featured yesterday in our segment on Elon Musk’s recent appreciation of Bitcoin.
Bankman-Fried is seen as a very reliable force in the world of crypto and could bring a steady hand to the project.
SushiSwap’s monthly volumes have ballooned over 300% since December.— Ryan Watkins (@RyanWatkins_) January 29, 2021
By end of January SUSHI stakers will likely have raked in $6 million in fees this month alone.
What’s going on with SUSHI and how much could it be worth?
1/ https://t.co/L0NGIBej0c pic.twitter.com/f3JabMDoPx
At the middle of September 2020, just after the infamous Chef Nomi incident which created a temporary backlash against many DeFi food coins, no one could have predicted that Sushi would be making such a comeback. However, the project has resurfaced and thanks to the cooperation with Andre Cronje’s team it is reclaiming market share from Uniswap.
Among the projects hitting recent all-time highs:— Messari (@MessariCrypto) February 1, 2021
+ Compound Finance
+ RARI Governance Token
+ The Graph
The massive increase in trading volume, Sushi has experienced in 2021 means that the coin has seen a price rise of 340% in January alone. Technical analysts claims that it has no barriers on the way up to $15.