SushiSwap Token has experienced significant price volatility in recent days. However, it wasn't until October 6 that an official announcement of a $5.30 million investment in the project was made.
The future of finance, with rising acceptance.
Several DeFi coins and tokens are gaining traction in this context. Some DeFi tokens (like SushiSwap token) have gained in value rapidly in recent months, particularly in response to positive news. Investment from major players such as venture capital firms lends credibility to these projects.
SushiSwap (SUSHI) has witnessed significant price fluctuation in recent days. However, it wasn't until Thursday (Oct 6) that an official announcement of a $5.30 million investment in the project was announced.
According to sources, SUSHI experienced an unusual rise in on-chain activity two days ago. However, there was no buzz on social media about the governance token. The price of SUSHI increased steadily in the run-up to Golden Tree's investment. According to Golden Tree's investment statement, Sushi embodies the finest of DeFi.
“Sushi has enormous potential in our opinion. To GoldenTree, Sushi reflects the finest of DeFi, both in origin and in community. Sushi is what DeFi is all about: iterating and innovating without arbitrary obstacles to competition.”
Rise in Activity Ahead of the Golden Tree Announcement
GoldenTree is a privately owned asset management with a $50 billion asset that focuses on corporate credit, distressed credit, credit structured products, and developing markets. The asset management has introduced its digital investing strategy.
Before the announcement, there was a spike in trade volume and active addresses. However, there was little discussion on social media regarding the price increase or the anticipation of good news.
Meanwhile, the SUSHI price increased significantly in the last 7 days, increasing by 21.65%. According to CoinGabbar statistics, the current price of Sushiswap (SUSHI) is trading at $1.30, up 5.29% in the last 24 hours. With a total market value of $254.53 million, the DeFi token is now ranked 138.
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