SushiSwap’s SUSHI Continues Ascent, Rallies 10% on $1B in Deposits

SushiSwap’s SUSHI Continues Ascent, Rallies 10% on $1B in Deposits

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SushiSwap has once again taken center stage in the decentralized finance (DeFi) space. The decentralized exchange’s liquidity has seen an exponential explosion over recent days while the SUSHI token itself has gained 200% from the local lows set just weeks ago.

SushiSwap has had a bit of a storied history. It was launched as a fork of the Uniswap exchange just months ago, managing to beat Uniswap temporarily, then dropped into the shadows for a few weeks due to the initial controversy around the Nomi Chef situation.

SUSHI seems poised to rally further as the project gains fundamental strength and goes on a path independent of Uniswap.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom

SUSHI Surges 10% Higher

SUSHI has surged 10% higher in the past 24 hours, pushing to new multi-month highs at $1.67. The