SushiSwap is one of today’s biggest winners. The coin, which ranks #88 by market cap, has gained just under 16% in the last 24 hours. This quick guide explains what SushiSwap is, if it’s a good investment, and whether you should buy SushiSwap now.
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What is SushiSwap?
SushiSwap (SUSHI) is an example of an automated market maker (AMM). An increasingly popular tool among cryptocurrency users, AMMs are decentralized exchanges which use smart contracts to create markets for any given pair of tokens. SushiSwap launched in September 2020 as a fork of Uniswap, the AMM which has become synonymous with the decentralized finance (DeFi) movement and associated trading boom in DeFi tokens. SushiSwap aims to diversify the AMM market and also add additional features not previously present on Uniswap, such as increased rewards for network participants via its in-house token, SUSHI.
SushiSwap was founded by the pseudonymous entity known only as Chef Nomi. Little is known about Chef Nomi, or his or her impetus for forking off from Uniswap.
Should I buy SushiSwap today?
Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never take any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose.
SushiSwap price prediction
According to PricePrediction, SushiSwap will trade for at least $13.17 in 2022. The SushiSwap price can reach a maximum of $16. In 2023, the price of SushiSwap will hit $19 as the bare minimum. The maximum it can go up to will be $23. The next year, 1 SushiSwap will change hands for at least $26.