SushiSwap’s native token SUSHI is surging higher after a correction in the price of Ethereum, which reflected poorly on DeFi. SUSHI is currently up by 20% in the past 24 hours alone, making it the best-performing Ethereum-based large-cap digital asset. It is also the best-performing cryptocurrency in the top 100 by market capitalization.
SUSHI is pushing multi-month highs at $2.30.
SushiSwap Continues to Push Higher on Merger Hype
SUSHI’s continued push higher comes after a strong partnership/merger with the Yearn.finance protocol. The merger recognizes key synergies between the protocols and their developers.
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As Andre Cronje, founder of Yearn.finance, wrote about the SushiSwap partnership in a November 30th blog post:
On the menu, (audit scope)
🍣 New settlement feature — Limit Orders!📈
🍱 Bentobox! — Margin shorts, lending, flexible oracles! pic.twitter.com/oCGePSW0zZ
— Quantstamp (@Quantstamp) December 4, 2020
Many are optimistic that these features will allow SushiSwap to differentiate itself enough from Uniswap. This should result in growth in the price of SUSHI over time as the market realizes the long-term potential and cash flows enabled by a Yearn-backed decentralized exchange.