Automated Market Makers (AMM) like Sushiswap became a trend in 2020. In general, the whole cryptocurrency world has gone crazy because of DeFi. SUSHI token price rallied, dropping from $46 to only one dollar. This was influenced by none other than the creator of the platform. How will the cryptocurrency develop, and what is the point of the platform? Read the new SUSHI price prediction for the next few years: 2021, 2022, 2023, etc.
What Is SushiSwap?
SushiSwap project is an AMM created by the user called Chef Nomi. The user can add liquidity to the pool and receive a reward in the form of SUSHI tokens. This process is similar to how Uniswap works, but the difference is that SUSHI tokens allow you to continue earning some of the profit, even if you do not use liquidity.
In order to encourage users to create liquidity on SushiSwap, an incentive scheme has been developed. In the case of Uniswap, vendors only receive pool trading fees when their funds are in the pool. As soon as they take it away, passive income stops. Besides, as the protocol being developed and trading volumes increase, the income becomes more diluted as large investors, mining pools, venture funds, etc., join the project.
You can also provide liquidity into the SushiSwap pool and receive a reward (SUSHI tokens). However, unlike Uniswap, early adopters are considered the most significant contributors to the protocol, so even with a withdrawal of funds, they will continue to receive rewards. However, it should be understood that this reward will also gradually wane if liquidity is not continued to be supplied.
Those who already use Uniswap and have funds there can transfer them to any of the SushiSwap pools and start earning SUSHI tokens. The reward will start from block number 10,750,000. Each block gives 100 SUSHI, which are distributed among the members of each of the supported pools:
DAI-ETH, sUSD-ETH (DeFi stablecoins)
USDT-ETH, USDC-ETH (centralized stablecoins)
SNX-ETH, UMA-ETH (synthetic assets)
COMP-ETH, LEND-ETH (lending protocols)
LINK-ETH, BAND-ETH (oracles)
SushiSwap (SUSHI) Price Changes
According to the DeFi Rate, on August 31, the SUSHI/ETH yield reached 1500% per annum. The need to obtain SUSHI tokens to participate in the pool also pushed the token price up.
Many events have already taken place around this project, including the scandalous departure of the anonymous founder, who took $14 million from the developer fund and then returned it with an apology. All these events affected the price of an asset. Back then, the coin price dropped from $46 to $1.13 amid the founder’s drama.
The main source of demand for SUSHI is trading commissions in the protocol. The token price rises with an increase in trading volume. While maintaining a relatively low trading activity, the SUSHI price will also be low – new coins are simply added to the circulation, diluting the supply.
SushiSwap Live Price
SushiSwap Price Forecast for 2021-2025
SushiSwap ranks among the top 10 DeFi projects by market cap, according to Santiment, a network analytics platform. According to the source, SUSHI has a $253 million market cap. Although it has a high market cap, SUSHI price is one of the lowest among other DeFi players.
To predict the future of the SUSHI coin, let’s turn to services that provide data based on AI calculations. According to Digital Coin Price service, the price of one SUSHI can reach about $2.1 by 2021. The coin’s price will rise over the next five years to $3.5.
Another source, called Wallet Investor, claims that SUSHI token is a bad long-term investment. Moreover, the asset price will fall below the dollar in 2021 and continue to fall until 2025. In 2023, the price of a coin may generally drop to one cent.
Based on technical analysis, the asset price could rise to $3 under favorable conditions. After all, many experts believe the coin is in a consolidation trend. If the coin enters a support area, then the price can rise as much as $4.
We kindly remind you that all these numbers are relative since a coin’s price depends on the trading volume.
Where to Buy and Store SUSHI?
SUSHI token is supported by decentralized wallets such as Metamask and WalletConnect. The most convenient way is to use Metamask since it is installed directly into the browser in a few seconds. The wallet allows you to log in to SushiSwap, and also instantly transfer funds to the pool or withdraw funds. For short-term storage, you can consider any exchange.
There are many liquid exchanges where you can buy SUSHI. According to our tradition, you can see the most popular trading pairs in the table below.
If you do not have a specific cryptocurrency that you would like to exchange for SUSHI, Changelly is always happy to provide you with a platform for instant crypto swaps and purchases. Our service will exchange many fiat or cryptocurrencies for the one you need.