SushiSwap’s native SUSHI token has been increasing over the past few days and weeks. At the time of this writing, the cryptocurrency is up 10% in the past 24 hours and stands at $ 4.50.
SUSHI’s rally is happening as Ethereum was relatively flat on a day Bitcoin soared to $ 42,000.
The Ethereum-based altcoin appears to be benefiting from a number of fundamental trends that suggest the market will move higher in the days and weeks ahead.
According to analysts, SUSHI remains a relative value for Uniswap’s UNI token.
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SushiSwap roadmap expected
Tomorrow the SushiSwap team is expected to publish the roadmap for the project.
“0xMaki”, the pseudonymous and popular “General Manager” of the project, wrote on Twitter that the team will publish the “2021 Roadmap” tomorrow.
SushiSwap is a decentralized exchange that will be integrated into the Yearn.finance ecosystem. SUSHI is the platform’s native token. Holders of the coin can earn dividends by using their SUSHI in the so-called “sushi bar”.
Then let’s publish the Roadmap 2021 tomorrow. https://t.co/WbL53tKzNb pic.twitter.com/x0Yw6Wwwyr
– 0xMaki Gen Yoshitsune (@ 0xMaki) January 8, 2021
The roadmap is expected to provide more information on SushiSwap’s cross-chain ambitions, possible upgrades to the protocol, and the release date of the BentoBox product. BentoBox is currently being reviewed by Quantstamp and is expected to go live in the coming weeks.
It is believed that SUSHI will benefit from the release of these upgrades and products because as usage increases, the fees for SUSHI holders should increase over time.
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All eyes on Bitcoin
Although SUSHI has been largely uncorrelated with other cryptocurrencies for the past few weeks, Bitcoin is still setting the overall market trend.
Bitcoin has clearly been on an upward trend in recent months, rising from the region of $ 20,000 in December to now $ 42,000. The leading cryptocurrency is being overbought by many technical indicators, according to analysts, although the long-term macro trend remains intact.
SUSHI should continue to outperform as long as new products and updates continue to ship in this ongoing bull market for Bitcoin and Ethereum.
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Featured image from Unsplash Chart from TradingView.com Price Tags: sushiusd, sushibtc Why SushiSwap (SUSHI) is rising 10% higher today