The Sushi token price has reached new heights as the news appears that the decentralized crypto exchange, SushiSwap, has secured an investment from one of the largest fund managers – GoldenTree worth about $5.2 Million for its Governance Token – SushiSwap
The token’s price has increased roughly 13.8% in the last 24 hours and is now worth $1.27. In addition, according to CoinGecko statistics, the price also increased significantly over the previous seven days by around 18.0%. This spike is leading investors to new bullish sentiment for the token.
Moreover, Nomics data shows that the token’s 24-hour trade volume has increased to $275.37 million, with a considerable gain of 54.5%. It has also led to an increase in its market capitalization up to around $309.46 million, which is 14% higher than the previous day.
However, Sushi is a clone of Uniswap but has been improved by adding governance and liquidity mining capabilities. With these features, the token has already outpaced its competitors when it comes to development speed, and it also shows great potential in terms of future expansion.
As its price is steadily increasing, the prices chart indicates that the token will cost $1.39 by the end of this year and then $1.46 during the first six months of 2023. The price would then increase slightly to close out the year at $1.67 (33% higher than now), according to the latest long-term SushiSwap price forecast.
Asset Management Giant’s Invests In Sushi Token
The Sushi 2.0 roadmap, forthcoming cross-chain integrations for exchanging and lending, and updated Tokenomics were claimed to have the power to transform the decentralized crypto exchange industry.
These developments have attracted not only the attention of social volumes and merchants but also of prominent investors.
The exchange’s forum statement from October 5th revealed that Asset Management Giant GoldenTree had invested about $5.2 million in the exchange governance token.
The GoldenTree said in the statement that:
“We’ve been following Sushi for a while (some of us for several years now), and with the launch of GoldenChain, we are psyched to be more active in all things Sushi.”
GoldenTree believes that this token has incredible potential. The project had many obstacles but what was astonishing is that the core team and the community remained resolute in this time of hardship, which led to outstanding results.
Moreover, the Asset Management Giant also said, “Our plan is to be helpful to the community in whatever ways we can be.” it also claimed that, among other things, they will primarily focus on SUSHI’s “Tokenomics” and “General Design/Strategy.”
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