Sushi's Whirlwind Journey Reflects In Its Price Action
Sushi’s Whirlwind Journey Reflects In Its Price Action
December 29, 2020
Sushi's Whirlwind Journey Reflects In Its Price Action
Sushi’s Whirlwind Journey Reflects In Its Price Action
December 29, 2020

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.

ALSO READ :  Zombie Christmas To Auction NFT Holiday Horrors

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.

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.

He said:

“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


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Bitcoin Car Will Be Racing In Indianapolis 500 In May

Bitcoin Car Will Be Racing In Indianapolis 500 In May

Bitcoin car, the car branded with the Bitcoin logo, will be racing in circles against 32 others in this month’s Indianapolis 500. It has been reported by Jack Mallers, the CEO of Zap, that US racing driver Ed...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.