This Little-Known DeFi Token Rises Ahead of Big Announcement News

With rising use of Decentralized finance (DeFi), it appears to be poised for becoming the future of finance. In this scenario, several DeFi currencies and tokens are acquiring huge popularity. Some of the DeFi token have increased greatly in value in the recent times, especially with hopeful news. Investment flow from major companies like venture capitalist firms is providing credence to these enterprises.

Investment News Leads To DeFi Token Rise
There was huge price movement in the previous few days in SushiSwap (SUSHI) value. However, it was only on Thursday that there was an official announcement of a $5.30 million investment in the project. According to Santiment Insights, there was an interesting surge in on chain activity for SUSHI two days ago. However, there was no much disturbance in the social media activity around the governance token. In the build up to the investment by Golden Tree, there was a continual rise in SUSHI price. In its announcement on the investment, Golden Tree declared Sushi reflects the finest of DeFi.

“We believe Sushi has incredible potential. To GoldenTree, Sushi represents the best of DeFi, both in origin and in community. Sushi is what DeFi is all about: iterating and innovating, without artificial barriers to competition.”

Activity Rise Ahead Of The Golden Tree Announcement
GoldenTree is a $50 billion privately owned asset manager that invests in corporate credit, distressed credit, credit structured products, and emerging markets. Recently, the asset manager launched its digital investment strategy. At one moment before the news of the release came out, there was considerable trade volume and active addresses. But there was not much of debate about the price spike or anticipation of positive news on social sites.

Meanwhile, there was considerable price rise in SUSHI when looking at the prior 7 day chart with a growth of 20.65%. As of writing, Sushiswap (SUSHI) price sits at $1.33, up 3.29% in the previous 24 hours, according to market tracking platform CoinMarketCap. The DeFi cryptocurrency is now ranked 147 based on the total market capitalization of $169.53 million.

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