This Little Known DeFi Token Is Attracting Investors – Find Out Here

Christian Encila

Last Updated: October 7, 2022 8:50 am

2 mins read

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This DeFi token, which only ranks 138th among cryptocurrencies according to total market capitalization, is starting to make some real loud noise in the crypto space this ‘Uptober.’

Even though the market continues to struggle to recover from its dismal September performance, SUSHI – the native token of SushiSwap – is making impressive leaps over the past couple of days.

At press time, according to data from CoinGecko, SUSHI is trading at $1.33 and has been up by 3.5% for the past 24 hours.

It currently carries a 20.1% price increase for the past seven days while its performance for the past 30 days has been equally impressive, recording a 15.5% uptick in value.

While it is still in the lower ranks of cryptocurrencies due to its $255 million market cap, SUSHI is currently the subject of tremendous interest among investors.

SUSHI Sounds Delectable To GoldenTree

Asset management powerhouse GoldenTree recently announced it has invested $5.3 million to SUSHI – a move that was instrumental for the governance token’s recent bullish rally.

During a SushiSwap forum held last Wednesday, the firm admitted they have been following the digital asset for a while now and that they are more excited about it with the upcoming rollout of their crypto-focused GoldenChain Asset Management Arm.

GoldenTree went on to say that the crypto asset has incredible potential and that it “represents the best of DeFi, both in origin and in community.”

The $50 billion privately owned asset manager has full trust in SUSHI as it iterates and innovates “without artificial barriers to completion.”

DeFi Token No Longer Just A Clone

As a digital token, SUSHI had a hard time earning respect from crypto aficionados as it was created as a copy of Uniswap.

Although it attempted to be better than the asset where it was based through liquidity mining and governance features, the token ended up lagging behind its competitors.

But the $5.3 million GoldenTree investment speaks volumes of how much interest the digital currency is now commanding.

The multi-billion dollar company did not dismiss the challenges that plagued SUSHI in the past but at the same time said they are amazed by the resiliency of the core team and the asset’s community of supporters.

GoldenTree took notice of the top-tier products that SushiSwap has built and released, becoming one of their reasons for the game-changing investment.

SUSHI market cap at $168 million | Featured image from Japan Centre, Chart: TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.