This is why the price of crypto sushi is increasing by 50%

Yesterday we already wrote about Sushi, the cryptography of Sushiswap. Since this article, the price has risen even more and you pay more than 1 euro for 1 sushi. That’s an increase of 48%!

Sushi increases almost 50%

The price of sushi at the time of writing this article is 1.08 euros. In the last 24 hours, the price has increased by 47.68% and in the last 7 days by 84.48%. Sushi has a market capitalization of approximately 211 million euros and a circulating supply of 190 million SUSHI. This is more than the all-you-can-eat restaurant on site!

There have been rumors of market manipulation, which we wrote about in detail yesterday.

We don’t know exactly what’s causing this massive increase, but there are a few things happening in the background on Sushiswap, the decentralized exchange where Sushi first launched.

The commission must be refunded to users

The SushiSwap community presented a proposal to return to the previous model and transfer all commissions to xSUSHI token strikers.

The xSUSHI token is a special token that SushiSwap users can earn by staking their SUSHI tokens. Staking is a way to lock cryptocurrencies on a DEX to ensure the exchange works properly.

The change in Kanpai 2.0 was a change in the way SushiSwap distributes its commissions. Before this change, all commissions went to xSUSHI token stakers. After the change, 100% of the provisions went back to the project fund.

According to the authors of the discussion, the project’s tokenomics have been greatly weakened since the creation of the Kanpai 2.0 model in December last year. The original token of the Sushi Ecosystem (SUSHI) has lost its main purpose and now goes 100% to the project’s treasury. This is great for funding projects, but users feel left out.