Sushiswap is a decentralized exchange on the Ethereum network that has been around since 2020. The exchange has 337 coins and I have used it in the past along with other decentralized exchanges including Uniswap. I am a huge fan of decentralized exchanges over centralized exchanges and have been buying SUSHI in anticipation of Altcoin season in 2025.
SUSHI is the governance token of SushiSwap and currently trades at $2.14 and has risen significantly YTD. The coin currently has a marketcap of approximately $560 million and is ranked #404 by marketcap. The coin has plenty of liquidity and is traded on major exchanges including Kraken. Sushiswap made waves in 2020 when it was released on the Ethereum network and quickly became a favorite. Investors rushed to provide liquidity to the exchange amid the popularity of other decentralized exchanges including Kyber Swap and Uniswap.
Bitcoin's rise has helped SUSHI increase in price, and Bitcoin currently has a 55.5% market dominance. This can indicate that an Altcoin season is coming. Bitcoin has risen to $100,000 and has garnered the attention of the media which has given the Altcoin market notice as well.
Centralized exchanges are an awesome development, and SUSHI is a good governance token. I have purchased some and plan on buying more if there is a dip in the broader Altcoin market. I highly recommend giving this asset a look and have also taken a stake in the UNI (Uniswap) governance token as it is participating relevant.
Image and information from Coin Marketcap:
https://coinmarketcap.com/currencies/sushiswap/
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