As many investors are investing their huge money in defi coins as they are the biggest giant in cryptocurrency .
The founding founder of Sushiwaz has scammed on 5 September after allegedly converting all his sushi tokens to ETH. The report of the alleged scam came just days after the sushi token, which was derived from the Uniswap protocol, increased in value to $ 10. Just 24 hours.
Coin dropped above 90% due to this massive sellout by Sushi management from their tokens . which become huge loss for their investors . However , many big institutions also lose their money.
A massive sellout in the crypto world this week hit the most well-known cryptocurrencies such as Bitcoin and Ethereum with a 20% loss. For a constant stock market trader, this may exists as an serious incident, but for those accustomed to the wild swings of the crypto market, so far this is indication of bull run in crypto.
Another story was entirely in Defy space, with decentralized finance coins suffering full losses in some cases or removed from the top.
SushiSwap vs UniSwap
One of those who landed in the abyss was a week-old Sushi coin, which was making headlines at the beginning of the week, with $ 1.4 billion in trading volume (unbelievable for the one-week-old coin) on the Uniceval platform to reach and reach. Above $ 10.
Before the sushi "takeover" by FTX and SBF, SUSHI was possibly the route to zero. It dropped 88% in five days with clarity on the future of the project.
Industry executives and analysts are generally positive about acquisitions. Bitmax CEO Arthur Hayes said:
Three Arrow Capital CEO Su Zhu suggested that he support the acquisition.
SEPTEMBER 07, 2020
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