SushiSwap logo

SushiSwap price

(SUSHI / USD)

$4.24
+4.95%

Market stats

$539.5M

$157.8M

-31.35%

127.2M SUSHI

51% of total supply

28 days

67% buy
33% sell

#55

$23.38

+0.24%

+4.95%

-7.41%

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About SushiSwap

SushiSwap (SUSHI) is an Ethereum token that powers SushiSwap, a decentralized cryptocurrency exchange and automated market maker built on Ethereum. Holders of SUSHI can participate in community governance and stake their tokens to receive a portion of SushiSwap’s transaction fees.

What is SushiSwap (SUSHI)?

SushiSwap (SUSHI) is a decentralized exchange (or DEX) built on the Ethereum network. Originally forked from Uniswap, SushiSwap leverages smart contracts in order to provide liquidity pools that allow users to directly trade crypto assets — with no intermediary. Users can also become liquidity pool providers, supplying an equal value pair of two cryptocurrencies in order to receive rewards whenever anyone utilizes that pool. It is a decentralized finance (or DeFi) protocol.

What are the risks of using SushiSwap?

Users of Ethereum-based apps like SushiSwap have to pay transaction fees (also called gas) that can vary widely in price and can make it costly to use the network. DEXs have a range of risks, so do your research.  For example, bugs in smart contracts can be exploited. And, since anyone can create a token, watch for “rug pulls” of unvetted tokens. “Rug pulls” occur when developers and/or bad actors create and list tokens on a decentralized exchange, request that unsuspecting investors swap their ETH or other asset for the new token, only to liquidate the token after accruing a certain level of investments. This liquidation drives down the value of the token to 0. 

How does SushiSwap work? 

You can use Sushiswap to trade one cryptocurrency for another directly — it can’t be used to trade fiat for crypto or vice versa. It uses the Automated Market Maker model pioneered by Uniswap.  

To add liquidity, users send equal-value amounts of two cryptocurrencies to SushiSwap. In exchange, they receive Liquidity Provider (or LP) tokens and begin receiving rewards. Users can deposit their newly created LP tokens into yield farms to earn further APY rewards. This creates extra incentive for users to continue to be part of the liquidity pool over time.

Where do you buy SushiSwap?

You can buy SushiSwap through an exchange like Coinbase, in addition to using decentralized exchanges like Sushishwap itself (or Uniswap, a competing decentralized exchange).

Released: August 2020

SushiSwap is on the decline this week.

The price of SushiSwap has fallen by 7.41% in the past 7 days. The price increased by 4.95% in the last 24 hours. In just the past hour, the price grew by 0.24%. The current price is $4.24 per SUSHI. SushiSwap is 81.86% below the all time high of $23.38.The current circulating supply is 127,244,443 SUSHI.

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This content and any information contained therein is being provided to you for informational purposes only, does not constitute a recommendation by Coinbase to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges. Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content.

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