This DeFi token, which is only ranked 138The tenth Among the cryptocurrencies by total market capitalization, it’s starting to make some real loud noises in the “Uptober” crypto space.
Although the market is still struggling to recover from its poor performance in September, SUSHI – the original symbol of SushiSwap – has made amazing leaps over the past two days.
At press time, according to data from Queen Gekkosushi Trade at $1.33 It is up 3.5% in the past 24 hours.
It currently holds a 20.1% price increase over the past seven days while its performance over the past 30 days has also been impressive, posting a 15.5% increase in value.
While it is still in the lower ranks of the cryptocurrency due to its $255 million market cap, SUSHI is currently the subject of massive interest among investors.
SUSHI looks delicious to GoldenTree
Powerful asset manager GoldenTree recently announced that it has invested $5.3 million in SUSHI – a move that has been instrumental in the governance token’s recent bullish run.
During the SushiSwap forum held last Wednesday, the company admitted that it has been following digital assets for a while now and that they are even more excited about it with the introduction of the crypto-focused asset management arm GoldenChain.
GoldenTree went on to say that crypto assets have incredible potential and that they “represent the best of DeFi, both in the origin and in the community.”
The privately owned $50 billion asset manager has full confidence in SUSHI as it iterates and innovates “without artificial barriers to achievement.”
DeFi code is no longer just a copy
As a digital token, SUSHI has had a hard time earning respect from crypto enthusiasts because it was created as a version of Uniswap.
Although it tried to be better than the original as it stood with its liquidity mining and governance features, the token ended up falling far behind its competitors.
But GoldenTree’s investment of $5.3 million speaks volumes about the amount of interest the digital currency is now receiving.
The multi-billion dollar company has not ignored the challenges that have plagued SUSHI in the past, but at the same time said it was amazed by the resilience of the core team and the asset backer community.
GoldenTree noted and released the first-class products created by SushiSwap, becoming one of the reasons for a game-changing investment.
SUSHI market cap at $168 million | Featured image from Japan Centre, Chart: TradingView.com