Will the rise in Sushiswap (SUSHI),which has increased by 3000% in the last 3 months, continue?
The foundations of sushiswap are still strong.
Sushiswap has experienced significant increases in both trading volume and price in the last 3 months. However, analysts still believe that there are signs of an increase in Sushiswap (SUSHI),and there is the potential for continued upward momentum.
Sushiswap Key Indicators
SUSHI, the project's governance token, rose $ 0.52 to $ 15.60 in the three-month period, a nearly 3,000 percent increase in its market value. The rise in the price of cryptocurrency is thought to reflect the fundamental changes Sushiswap has undergone in the recent past.
Most importantly, Sushiswap's liquidity has increased significantly. On November 4, 2020, the protocol had a total locked value (TVL) of $ 258 million. Currently, the project has $ 2.97 billion in TVL. This represents a liquidity increase of more than 1,000 percent. The increased liquidity of the project can be attributed to payments to liquidity providers from fees obtained through SUSHI tokens.
However, it is believed that the partnerships established also benefit the project. In late 2020 SushiSwap merged with Yearn Finance. This collaboration allowed Sushiswap to gain access to yearn's development resources. In contrast, SushiSwap exchanges are also helping Deriswap with the year project, a service that combines options, futures and loans into a single contract.
The Future Of Sushiswap
Earlier this week, the team announced Minimal Initial SushiSwap offering (MISO),a smart contracts package that allows developers to launch new projects in Sushiswap. With MISO, users will be able to launch and boot liquidity for their projects. This, in turn, will help the protocol by increasing the volume of transactions.
On January 9, 2021, the SushiSwap team announced their roadmap for 2021 and outlined the products they are developing. According to the statements made, sushi expects significant developments in 2021. Therefore, an increase in the price is also considered inevitable.