SushiSwap is one of the most popular decentralized crypto exchanges (DEX) out there. The platform was launched as a fork of Uniswap in 2020. Sushiswap, like other DEXs, works based on an Automated Market Maker (AMM) algorithm.
The platform uses smart contracts to create markets for any given pair of tokens. SushiSwap aims to modify the AMM space by adding additional features that were not part of the primary chain. The utility token of the platform is known as SUSHI.
This article will give you a comprehensive overview of the SushiSwap platform and its governing token SUSHI.
I will talk about the major features of this DEX and the economics of the token. I will also discuss the future price forecasts of SUSHI and where and how to buy them.
Let’s jump in.
SushiSwap Key Features
| Incentivization | SushiSwap has a feature they call yield farming, which allows users to lock up their assets in liquidity pools and earn a passive income from them. |
| SUSHI Token | The SUSHI token is the governance token in the platform which allows users to participate in decision-making by suggesting and voting on proposals, promoting community involvement. |
| Reward Programs | The platform has programs like Onsen, which rewards users for providing liquidity for specific token pairs, and MasterChef, which distributes SUSHI to liquidity providers. |
| Exploration of NFTs | SushiSwap also offers NFTs (Non-Fungible Tokens), demonstrating the project’s adaptability. |
| Anonymity | Like other DEXs, users on SushiSwap, can create accounts without providing personal information. |
| Decentralization | Since SushiSwap is community-governed, the users have more control over their digital assets. |
SushiSwap (SUSHI) Tokenomics
The total supply of SUSHi is 250,204,042 tokens, which is also the maximum supply. Out of these, 232,057,373 SUSHI are in circulation.
SushiSwap (SUSHI) Current Position
The price of SUSHI stands at $1.54, which is 0.73% up from yesterday. The daily trading volume is at $94.4 million, almost 10% below yesterday’s numbers. SUSHI’s market capitalization is at $357 million now.
SushiSwap (SUSHI) Price Forecast 2024
The current market sentiment about SUSHI is Bullish while the Fear & Greed Index is showing 80 signaling Extreme Greed. Over the last 30 days, SUSHI recorded 17 (57%) green days with 14.68% price volatility.
According to our technical analysis, the price of Sushi is expected to drop by 7.41% and reach $ 1.42 by next week.
SushiSwap (SUSHI) Price Forecast 2025
Our experts forecast that SUSHI’s price in 2025 will fall between $ 1.33 on the lower side and $ 3.58 on the upper side. If we compare that with current prices, this will be a gain of 131.50%.
SushiSwap (SUSHI) Price Forecast 2030
Though we are in speculative territory, the Sushi price in 2030 is expected to lie between $ 8.44 and $ 15.91. Compared to the current prices, this will be translated into a whopping 929.91% return.
Where to Buy SushiSwap (SUSHI)?
The most popular places from where you can buy SUSHI are:
How to Buy SushiSwap (SUSHI)?
Though you can find SUSHI from CEXs, I will explain how you can buy them from SushiSwap itself.
- First, you need to connect a wallet that is compatible with SushiSwap. MetaMask is a good choice.
- Load your wallet with Ether (ETH) to pay for gas fees, and to swap for SUSHI.
- Go to SushiSwap’s website https://app.sushi.com/swap and connect your wallet.
- Go to the swap interface and enter the amount of the cryptocurrency you wish to swap for SUSHI.
- In the ‘to’ field, select SUSHI from the dropdown list and hit ‘swap’.
- Check all the details in the window that pops up and hit ‘confirm’.
- Once the swap is confirmed, the SUSHI tokens will be added to your wallet.
Conclusion
SushiSwap adds some handy features to the already awesome Uniswap exchange. The platform fills in the gap of a fully decentralized financial system that was envisaged by Satoshi Nakamoto.
Though the native token SUSHI has been trading below a dollar for over a year, it has started to gain traction, starting in 2024. Our quant experts are confident about a bull run for SUSHI.
That being said, remember that cryptocurrencies are highly volatile and sometimes experience large corrections owing to unrelated market conditions.
The reader is advised to exercise caution before venturing into such risky investments. Also, invest only the money you can afford to lose.
