While All Cryptos Are Falling, This Altcoin Is Rising!

Decentralized finance (DeFi) native token of SushiSwap from startups SUSHIIt has gained 34% in the last 5 days while the entire crypto market is down.

SUSHI continues to rise day by day, cryptocurrency attracted the attention of investors. Investors are debating whether SUSHI can go any higher from here.

According to crypto experts, the most important reason behind this performance of SUSHI is that the project received a new investment.

Digital asset mutual fund managing $50 billion GoldenTreeannounced that it has invested $5.3 million in SushiSwap. In a statement, the company drew attention to the potential of SushiSwap in the DeFi field:

“SushiSwap is an innovative project in the field of DeFi. We like to invest in startups that open up new possibilities for blockchain developers.”

Earlier this week, the chief executive of SushiSwap changed. Jared Gray has become the new lead developer of the platform. Gray donated $250,000 to the Sushi ecosystem.

Santiment: Interest in SushiSwap is Increasing!

The increase in interest in SushiSwap parallels GoldenTree’s investment. According to Santiment’s data, the number of active addresses in the SushiSwap protocol rose from 300s to 811, but immediately dropped to 700 after the rise.

🍣 $SUSHI‘s ascension these past few days has been assisted by #GoldenTree‘s emergence as bidders. Their announcement caused social volume to spike to 3-month highs. and the #DeFi asset’s trading volume and address activity has really climbed since Oct. 3. https://t.co/UIjTKKEUPA pic.twitter.com/4xGCOCNSa9

— Santiment (@santimentfeed) October 6, 2022

Along with the increase in the number of active addresses, the trading volume of SUSHI token increased from $32 million to $201 million in 1 week. CoinMarketCap According to data, SUSHI was the 18th most searched cryptocurrency in the last 24 hours.