After a raise of popular Defi protocols, newer tokens have begun to go higher. In the past 24 hours, SushiSwap’s SUSHI token surged 30% becoming the fastest growing crypto-asset in the top 100 by market capitalization. The growth is connected with strong technical upgrades for the cryptocurrency as well as certain technical trends.
Earlier Uniswap’s native token UNI has increased about 25-30% over that same time frame. Some find these two coins correlated. SushiSwap has seen positive technical upgrades over recent weeks that should further boost the SUSHI bull case. The protocol is looking to depart itself from Uniswap, from which it was forked just months ago. Analysts think that SushiSwap is capable of making a spot for itself in the ever-competitive decentralized exchange market.
SushiSwap’s developers are looking to do this through a variety of tools, including methods to reduce impermanent loss, a native limit order feature, and a decentralized lending and borrowing platform.
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These changes should boost SUSHI value position as these new products are likely to drive revenue to holders of the coin.