Decentralized exchange SushiSwap is currently the clear leader with the SUSHI token in the DEX ranking. This token grew by 23% in less than 24 hours.
SushiSwap is a DEX leader
Over the last four months, the price of the SUSHI token has managed to increase significantly. This is also due to the ever-increasing popularity of decentralized DEX exchange tokens. Sushi is currently the most powerful DEX token for a given period of time.
A DeFi sector analyst also gave his view on this issue, Kris Kay. According to him, the growth of SushiSwap is influenced by several factors, but the most important thing is that the exchange works faster than the competition. The platform has recently been able to branch into several blockchains, which is not yet possible in the case of competition. As a result, more fees are generated for its users, increasing the prospect of holding SUSHI tokens.
The big ttrading boom came after the announcement that the exchange was becoming part of the Arbitration.
With super fast transaction speeds, you never have to sit and wait for tx confirmation again at https://t.co/aoFOsbikeu.
Just try switching your network to Arbitrum today!
🏁🏎️🏁🏎️🏁🏎️🏁🏎️🏁🏎️🏁🏎️🏁🏎️🏁
$ 30M TVL and counting… 📈 pic.twitter.com/qgmybXWhjt– SushiChef (@SushiSwap) September 15, 2021
According to Kay, scaling in several chains from the 1st and 2nd layer clearly has a positive effect on the growth of the ecosystem. Another positive factor may be the planned launch of a market for NFT tokens called Shoyu.
Price SUSHI
The exchange was able to completely beat its biggest competitors, such as UNI. For the last week, there are token gains SUSHI at 45%. Compared to UNI, which reached less than 17%, it is a great success.
“SushiSwap is currently the 5th highest-paying protocol. However, we are still at the beginning. DEX can do much more than it seems, “Kay said.
4 /
Sushi Swap is currently the 5th highest earning protocol 🔥While most of fee-revenue goes to Sushi treasury, $ SUSHI holders still control this. $ SUSHI stakers also receive 0.05% of all fee-revenue. pic.twitter.com/cu4GMiVGU2
– Kris Kay | Fi DeFi Donut (@thekriskay) September 14, 2021
Top alternative exchanges for Binance without KYC verification
