The announcement that SushiSwap, a decentralized cryptocurrency exchange, has acquired an investment from one of the biggest fund managers, GoldenTree, has caused the price of the Sushi token to soar to new heights.
The decentralized crypto exchange market was predicted to undergo a revolution due to the Sushi 2.0 roadmap, upcoming cross-chain integrations for lending and exchanging and updated Tokenomics. Not only social groups and businesses paid attention to these changes, but also well-known investors.
Asset Management Giant GoldenTree has invested around $5.2 million in the exchange governance token, according to the exchange’s forum post dated October 5.
The GoldenTree said n the forum:
“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.”
Sushiswap, in the opinion of GoldenTree, has huge potential. The project had several challenges, yet it is amazing that the core staff and the community remained steadfast during this trying time, producing remarkable outcomes.
The Asset Management Giant also stated that its goal is to support the community in any way possible. Additionally, it said that they will primarily concentrate on SUSHI’s “Tokenomics” and “General Design/Strategy.”
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Sushi Prices Analysis
The token is currently worth $1.32 after rising by about 15.8% during the previous 24 hours. Additionally, according to CoinGecko data, the price rose by almost 18.0% during the last seven days, which is a considerable gain. Due to this increase, investors are now more optimistic about the coin.
Moreover, as per Nomics statistics, the token’s 24-hour transaction volume surged to $307.55 million, a significant boost of 71.54%. Also, it has caused its market value to rise to around $322.21 million, or 14% more than the day before.
However, Sushi is a Uniswap clone that has been enhanced with governance and liquidity mining features. With these qualities, the token has already developed more quickly than its rivals and has a lot of room to grow in the future.
The latest long-term SushiSwap price forecast shows that the token will cost $1.39 by the end of this year and then $1.46 during the first half of 2023 due to its continually rising price. The price would then rise marginally to end the year at $1.67, which is 33% more expensive than it is presently.