Sushi’s Whirlwind Journey Reflects In Its Price Action
DeFi project Sushi’s whirlwind journey was reflected in its price action last week, as on December 23 (Wednesday), from the high of about $2.76, SUSHI prices crashed hard nearly 60% to the $1.16 level. But the next day, Sushi was back above $2.6.
It has been reported that this crash was market-wide, although SUSHI reacted hard and fast both in terms of losses and then reversing them into gains.
However, the news of SEC suing Ripple and its two executives, former and current CEO, over the alleged sale of an unregistered security offering was what pushed the cryptocurrency market down.
The report said that recently, SUSHI had hit $3.35, last seen in early September when the token was making its way down from the high of $12.47 on September 1.
200 allocation points have been set aside for the initial launch of Onsen, a new liquidity mining incentivization program, which will require LPs to stake their SLP tokens in MasterChef to take advantage of the SUSHI rewards.
Likewise, the list of token that will be taking part in Onsen includes MKR, OMG, ESD, ANT, PNK, HEGIC, CREAM, PICKLE, DPI, CVP, YETI, ARCH, INJ, BOR, DUSD, DFD, BADGER, zLOT, INDEX, SWAG, JRT, DOUGH, SEEN, UWL, ICHI, ROPE, oBTC, mbBASED, DSD, nTRUMP, UST, FNX, BCP, YPIE, DEFI+L, BASE, DDX, MPH, FRONT, UOP, TRU, ALPHA, AKRO, and CRETH2.
.@SushiSwap Whirlwind Week Sees the Launch of Onsen; The ‘Future of Finance in 2021’https://t.co/8fjVy80C6P — ₿EG News – BitcoinExchangeGuide (@bitcoinsguide) December 28, 2020
0xMaki, the Project Lead of DEX SushiSwap, recently shared his plans for the project that currently has more than $1 billion in TVL (total value locked).
Similarly, the anonymous developer shared that SushiSwap users will soon get to borrow or lend and long or short an asset with the launch of BentoBox, which he said will be available in 2021.
“Developers will also be able to build on top of the protocol.”
Thus, 0xMaki added:
“I think we are going to see the future of finance in 2021.”
Source: Bitcoin Exchange Guide
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