The DeFi sector is witnessing a notable surge in the value of Sushi Coin, coinciding with Bitcoin‘s rebound from its January 12 downturn. This upswing is attributed to the DeFi platform’s latest undertaking, which promises to enhance its service offerings and user base. Expounded here are the underlying factors contributing to the recent price volatility and the platform’s announcement.
DeFi Platform Launches New Exchange Initiative
The introduction of a novel product has catalyzed a swift escalation in Sushi Coin’s value, jumping from $1.13 to $1.183. The product in question is a decentralized derivatives exchange, set to operate on the Layer N network, distinguished for its impressive transaction speed and rollup optimization. SUSA, the exchange born from the Sushi and Layer N collaboration, aspires to rival centralized exchanges in performance through Layer N’s Nord Engine, capable of processing over 100,000 transactions per second and achieving latencies below one millisecond.
Industry Leaders Comment on the Collaboration
Jared Grey of Sushi expresses enthusiasm for the partnership with Layer N, highlighting the synergy of their joint expertise to create premier products that embody the essence of DeFi. Layer N’s rollup model is praised for its capital efficiency, liquidity, and Ethereum’s security. Dima Romanov, CEO and Co-founder of Layer N, echoes this sentiment, recognizing Sushi’s pivotal role in DeFi’s foundation and voicing his eagerness to usher in Susa as one of the initial rollup nodes on the Layer N network. The ambition is for Susa to emerge as a leading perpetual exchange and ecosystem in the decentralized arena.
With the DeFi token supported on multiple networks, including Ethereum, Arbitrum, Optimism, Polygon, and Base, Sushi Coin’s price has experienced a sharp increase following the recent announcement. This strategic timing aligns with Bitcoin’s robust price climb. For the prominent DeFi cryptocurrency, a short-term close above the crucial threshold of $1.26 could signal a revisit to the $1.5 peak. On a long-term trajectory, the coin could potentially reach milestones of $1.92 and $3.37.