A new DeFi project, Sushiswap, has hit an impressive record not long after its launch. The project has now pulled in more than a billion dollars of locked up funds.
Chain analytics platform, DeBank, revealed this information. According to data from the platform, liquidity miners on the Sushiswap platform now have more than $1 billion locked up. At press time, current data shows a total locked value of $1.3 billion. The data also shows that SushiSwap is the fourth largest in total locked value. The others, in order from the first, are Uniswap, Maker, and Aave.
The development is particularly interesting, considering that Sushiswap only launched days ago. The SUSHI tokens themselves have been jumping significantly. SUSHI jumped from less than $1 to $7.70 in less than three days.
One of the major reasons attributed to the SUSHI surge was an announcement from the FTX crypto exchange. The crypto exchange announced on August 31 that it would be listing SUSHI tokens. FTX now has SUSHI listed, running perpetual futures and spot markets on the platform.
Ethereum is also a big winner with all of the spike happening in the DeFi space. According to recent data, the 15 largest DeFi projects are currently built and running on the Ethereum network. However, Ethereum cofounder, Vitalik Buterin, is not a big fan.
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