SushiSwap (SUSHI) has jumped almost 6% to $4.28 in the last 24 hours, whereas its capitalization has grown to $544.772 million.
Whales have been purchasing SUSHI tokens since mid-December 2021.
Wallets holding between 100,000 and 10 million coins have acquired 9.63 million SUSHI in two months. According to a report published by Santiment, they took advantage of the winter fall in the crypto market and increased their holdings in SushiSwap by about 9%.
The SUSHI token is an asset of the SushiSwap decentralized exchange based on several blockchains. Up to $4.76 billion worth of digital assets are locked in this DeFi protocol.
According to analysts, the SushiSwap platform token will soon be among the top performing altcoins. It will add value if the decentralized finance market starts to grow at a more robust pace.