GoldenTree’s $5.3M investment causes a 6.6% increase in sushi prices
According to statistics from CryptoSlate, SUSHI has risen 6.6% during the last 24 hours. The price of the digital asset has maintained a favourable performance over the last week, reaching 24.4%.
At least one technical expert on Twitter feels that the current positive momentum around the protocol might be the spark that propels it over $1.5 for the first time since August when it fell below the threshold.
According to statistics from CryptoSlate, SUSHI has risen 6.6% during the last 24 hours. The price performance of the digital asset over the last week has been favourable, increasing by 24.4%.
Analysts attribute the recent favourable performance to the private asset management company GoldenTree’s $5.3 million investment.
GoldenTree, a $50 billion private asset manager, unveiled a digital asset investing strategy only lately. Sushi has been recognized as one of the DeFi items in which the company intends to invest, highlighting its enormous potential.
Jared Grey was chosen as the new Sushi Head Chef earlier in the week. Grey gave the $250,000 severance payment to the DAO’s treasury to aid in the expansion of the ecosystem.
GoldenTree’s announcement occurred at a time when interest in sushi was on the rise. Between October 4 and October 6, the number of active Sushi protocol addresses climbed from 306 to an all-time high of 811 but is now at 700.
According to Santiment statistics, the token’s trading volume increased from $32 million on October 1 to $201 million on October 6.
Sushi is also one of the industry’s most-watched crypto assets at now. According to CoinMarketCap’s watchlist, it is the eighteenth most-searched asset in the preceding twenty-four hours.
According to CoinGecko statistics, the DEX’s trade volume has decreased by 36% to around $16.5 million during the last 24 hours.