Positive developments in the marketplace have led to a rise in SushiSwap share price. Asset management business Golden Tree has bet around $5.3 million on SushiSwap. The news caused a nearly 15% increase in SushiSwap’s share price the day after it was released. Since the uptick of August 31–September 10, this is one of SushiSwap’s most rapid periods of expansion. The fall that occurred on September 13 as a result of negative macroeconomic pressures was almost entirely erased due to this rally. SushiSwap has a current TVL of $607.51 million. Increased network activity was also noted, according to Santiment’s analysis of the price spike that was also made public. They also saw the rise in both network activity and address creation. However, what does this mean for SUSHI generally? Expanding The Protocol As stated in a thread on the SushiSwap site, Golden Tree has faith in the potential of the entire Sushi protocol, praising its resilience along with that of the community that supports it. The company stated that with the funding, they will be able to contribute in the development and expansion of the protocol’s various components, such as Kuro (a loan service) and Trident. This investment has a tremendous impact on the development aspect of things. This is the significant increase in on-chain development activity. Related Reading: Shiba Inu: How This Newly Found Support Will Boost SHIB Price This Week Sus...
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