YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
No Result
View All Result

SUSHI Price Posts Significant Leap Amid GoldenTree’s $5.3M Stake in Sushiswap

October 8, 2022
in Blockchain
Reading Time: 16 mins read
A A
SUSHI Price Posts Significant Leap Amid GoldenTree’s $5.3M Stake in Sushiswap
ShareShareShareShareShare

The price of SushiSwap has risen by 23.76% in the last 7 days. The price rose by 2.99% in the last 24 hours. In just the past hour, the price grew by 0.39%. At the time of writing, the current price is $1.35 per SUSHI, according to CoinMarketCap. SushiSwap is 94.15% below the all-time high of $23.38.

SushiSwap price has made a strong surge this week as investors react to several important developments within the ecosystem. First, on Monday, Sushi DAO changed its leadership team and as a result elected Jared Grey as the “head chef”, the equivalent of a CEO.

You might also like

New Huo Tech Reports Explosive Revenue Growth Amidst Increased Losses

New Huo Tech Reports Explosive Revenue Growth Amidst Increased Losses

June 1, 2023
First Digital Group Launches New Stablecoin FDUSD to Revolutionize Global Finance

First Digital Group Launches New Stablecoin FDUSD to Revolutionize Global Finance

June 1, 2023

Grey, the CEO at crypto exchange Bitfineon and former CEO of decentralized finance (DeFi) platform EONS, is a highly experienced professional who has established many crypto startups in the past few years. In a statement, Grey said he wants to bolster engagement on the Sushiswap platform, improve the exchange’s internal organization as well as focus his time on revenue and market share growth.

Multiple technical analysts on Twitter also believe SUSHI’s recent positive performance is tied to the recent investment by GoldenTree Asset Management in Sushiwap. On Wednesday, GoldenTree invested about $5.2 million in the SushiSwap governance token. GoldenTree disclosed a $5.3 million token stake in decentralized exchange (DEX) SushiSwap – a development that sent the SUSHI token surging 13% as bullish investors piled in.

GoldenTree explained the reason for such investment, stating that it has been amazed by the resilience of both SUSHI’s core team and the community in the face of challenges, “as they continued to build and release top-tier products.”

The renewed bullish activity surrounding the Sushiswap token is reflected in the rising social volumes, supported by a surge in the weighted social sentiment, as result bolstered the recent price growth.

SUSHI community elections and GoldenTree’s announcement came when interest in SUSHI was seeing an uptick. Between October 4 and October 6, active addresses on the SUSHI protocol rose from 306 to peak at 811, though currently, the figure stands at around 700.

The token’s trading volume also rose from $32 million on October 1 to peak at $201 million on October 6, according to Santiment data. SUSHI’s supply distribution also indicates that addresses holding 10,000 to 100,000 tokens and 100,000 to 1 million tokens surged with the uptick in prices as whales sought more accumulation.

Image source: Shutterstock


Credit: Source link

Related Stories

New Huo Tech Reports Explosive Revenue Growth Amidst Increased Losses
Blockchain

New Huo Tech Reports Explosive Revenue Growth Amidst Increased Losses

June 1, 2023
First Digital Group Launches New Stablecoin FDUSD to Revolutionize Global Finance
Blockchain

First Digital Group Launches New Stablecoin FDUSD to Revolutionize Global Finance

June 1, 2023
Tether USD₮ Sets New Record Cementing Its Status as the Top Stablecoin for Global Financial Freedom
Blockchain

Tether USD₮ Sets New Record Cementing Its Status as the Top Stablecoin for Global Financial Freedom

June 1, 2023
Hong Kong SFC Finalizes Regulatory Framework for Virtual Asset Trading Platforms
Blockchain

Hong Kong SFC Chief Executive: New Guidelines for Crypto Trading Platforms Prioritize Investor Protection

May 31, 2023
Next Post
Cardano Founder on SEC vs Ripple: ‘Courts Make Poor Substitutes for Legislative Holes’

Cardano Founder on SEC vs Ripple: ‘Courts Make Poor Substitutes for Legislative Holes’

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

FBI urges caution with cryptocurrency scams on the rise – 9News.com KUSA

Investors told to learn more about 'pig butchering' scam – KVOE

May 28, 2023
FBI urges caution with cryptocurrency scams on the rise – 9News.com KUSA

Police Reports: $16,000 lost in digital scam, brief police chase in … – The Record North Shore

May 29, 2023

Popular Story

    • Contact Us
    • Privacy Policy
    • Terms of Use
    • DMCA

    © 2021 - YourCryptoNews.net - All rights reserved!

    No Result
    View All Result
    • Live Prices
    • Crypto News
      • Altcoins
      • Bitcoin
    • Defi News
    • NFT News
    • Blockchain
    • Regulations
    • Trading
    • Scams

    © 2021 - YourCryptoNews.net - All rights reserved!

    • bitcoinBitcoin (BTC) $ 26,892.00 0.8%
    • ethereumEthereum (ETH) $ 1,868.52 0.15%
    • tetherTether (USDT) $ 1.00 0.04%
    • bnbBNB (BNB) $ 305.41 0.14%
    • usd-coinUSD Coin (USDC) $ 0.999240 0.07%
    • xrpXRP (XRP) $ 0.509277 1.03%
    • staked-etherLido Staked Ether (STETH) $ 1,867.46 0.19%
    • cardanoCardano (ADA) $ 0.366056 2.6%
    • dogecoinDogecoin (DOGE) $ 0.071733 0.59%
    • matic-networkPolygon (MATIC) $ 0.889563 0.06%
    • solanaSolana (SOL) $ 20.57 0.53%
    • litecoinLitecoin (LTC) $ 94.35 5.47%
    • tronTRON (TRX) $ 0.074862 0.73%
    • polkadotPolkadot (DOT) $ 5.22 1.67%
    • binance-usdBinance USD (BUSD) $ 0.999705 0.13%
    • shiba-inuShiba Inu (SHIB) $ 0.000008 0.11%
    • avalanche-2Avalanche (AVAX) $ 14.11 0.29%
    • daiDai (DAI) $ 0.999984 0%
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 26,927.00 0.7%
    • uniswapUniswap (UNI) $ 5.00 0.07%
    • leo-tokenLEO Token (LEO) $ 3.59 2.22%
    • chainlinkChainlink (LINK) $ 6.37 1.13%
    • cosmosCosmos Hub (ATOM) $ 10.34 1.27%
    • okbOKB (OKB) $ 45.90 0.46%
    • moneroMonero (XMR) $ 147.75 1.62%
    • the-open-networkToncoin (TON) $ 1.78 3.04%
    • ethereum-classicEthereum Classic (ETC) $ 17.82 0.56%
    • stellarStellar (XLM) $ 0.091175 1.02%
    • bitcoin-cashBitcoin Cash (BCH) $ 113.05 0.37%
    • internet-computerInternet Computer (ICP) $ 4.68 0.64%
    • true-usdTrueUSD (TUSD) $ 0.999508 0.06%
    • filecoinFilecoin (FIL) $ 4.70 0.76%
    • lido-daoLido DAO (LDO) $ 2.08 0.32%
    • aptosAptos (APT) $ 8.54 2.9%
    • quant-networkQuant (QNT) $ 114.96 1.26%
    • hedera-hashgraphHedera (HBAR) $ 0.050484 1.38%
    • crypto-com-chainCronos (CRO) $ 0.058645 1.44%
    • arbitrumArbitrum (ARB) $ 1.15 0.35%
    • vechainVeChain (VET) $ 0.019881 2.32%
    • nearNEAR Protocol (NEAR) $ 1.55 0.33%
    • the-graphThe Graph (GRT) $ 0.128679 3.33%
    • apecoinApeCoin (APE) $ 3.08 1.62%
    • algorandAlgorand (ALGO) $ 0.149120 1.25%
    • the-sandboxThe Sandbox (SAND) $ 0.564071 6.61%
    • paxos-standardPax Dollar (USDP) $ 0.999295 0.05%
    • fraxFrax (FRAX) $ 0.998295 0.09%
    • edgecoin-2Edgecoin (EDGT) $ 1.00 0.04%
    • eosEOS (EOS) $ 0.886397 0.46%
    • rocket-poolRocket Pool (RPL) $ 48.84 0.68%
    • elrond-erd-2MultiversX (EGLD) $ 36.86 0.8%