Sushiswap (Up 31%) Sets New All Time High Of Almost $14

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Last Updated on 2 February 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Two weeks ago, we already mentioned that (formerly notorious) DeFi coin Sushi seemed to be making a comeback and had been steadily climbing up the charts again. By now, the coin keeps setting new record all time highs and is getting raving reviews for it’s performance both in staking and for gaining market share on the DEXs (decentralized exchanges).

A couple of hours ago SushiSwap set an all time high of $13,77. The price is currently up 31% and is trading around $12,60.

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Cronje cooperation

Things seem to be looking up for Sushi ever since they agreed to work together with Yearn Finance’s Andre Cronje. Furthermore, the ownership of SushiSwap has recently been passed to Sam Bankman-Fried, CEO of derivatives exchange FTX who we featured yesterday in our segment on Elon Musk’s recent appreciation of Bitcoin.

Bankman-Fried is seen as a very reliable force in the world of crypto and could bring a steady hand to the project.

At the middle of September 2020, just after the infamous Chef Nomi incident which created a temporary backlash against many DeFi food coins, no one could have predicted that Sushi would be making such a comeback. However, the project has resurfaced and thanks to the cooperation with Andre Cronje’s team it is reclaiming market share from Uniswap.

The massive increase in trading volume, Sushi has experienced in 2021 means that the coin has seen a price rise of 340% in January alone. Technical analysts claims that it has no barriers on the way up to $15.