SUSHI/USD is the pairing of two currencies, SUSHI, the governance token of SushiSwap, and the US dollar. You may find the pair written as SUSHI to USD or SUSHI USD or other variations, but they all represent the cryptocurrency SUSHI traded against the United States dollar. Launched in 2020 via a fork of Uniswap, SushiSwap is an Ethereum-based software that acts as a platform for trading crypto liquidity through the buying and selling of various crypto coins. As a governance token, SUSHI lets holders vote and participate in management decisions related to the protocol. As a crypto exchange, it gives investors the opportunity to invest in liquidity pools and benefit by earning fees. As such, SUSHI (and its holders) plays a key role in the network’s operation and in making crypto easier to trade for crypto enthusiasts. You can find information on trading SUSHI-USD, on eToroX, eToro’s professional crypto exchange, below.
eToroX was developed with the high-level crypto investor in mind and offers a rich and varied product suite as well as the services professional crypto investors require. This makes eToroX an ideal exchange for SUSHI USD trading. Amongst eToroX’s features are an ever-expanding list of cryptoassets, including Bitcoin, NEO, and QUANT, a fiat gateway, 24/7 trading, and a credit line available for investors seeking extra liquidity when they invest in crypto. eToroX is committed to regulation and the safety and security of users. Regulation is provided by the Gibraltar Financial Services Commission (GFSC), with its 9 core principles supporting DLT providers. The exchange closely monitors every aspect of the exchange and user accounts and has in place a solid defense against potential security threats. Traders exploring investing in the leading crypto pairs such as SUSHI/USD on eToroX will find a robust trading exchange where they can benefit from no fees on crypto deposits and when withdrawing, no withdrawal fee on SUSHI withdrawals.
Launched in the summer of 2020, SushiSwap, also called Sushi, is a decentralized crypto exchange that lets people exchange (swap) crypto while creating liquidity without an order book. Rather, as an AMM (automated market maker), SushiSwap uses smart contracts and algorithms to set pair prices for swappers, some of whom use their crypto to add liquidity to the network’s liquidity pools. Adding liquidity rewards lenders with the network’s native token, SUSHI. SushiSwap was created by two anonymous founders as a Uniswap fork and, based on Ethereum, it is a popular Decentralized Application (DApp). Sushi is community-driven and governed, and the SUSHI token can be staked, traded, for example as SUSHI-USD, and farmed. The maximum supply of SUSHI is fixed at 250 million tokens, with over 235 million already created and roughly half the maximum already in circulation in December 2021.
Just several months after its release, SushiSwap was trading at 40 times its all-time low. Later, the price dropped, but at the end of 2021, SUSHI is trading at roughly 15 times its lowest recorded price. Of course, it is impossible to know where the SUSHI/USD market is going. Nevertheless, what is known is that many crypto traders are finding DeFi tokens worth a look, and with SUSHI offering unique features, it may continue to capture a unique place in the crypto market. In general, 2021 was a good year for crypto, and SUSHI was no exception, faring well.
As with all investment decisions, it is a good practice to understand terms, and phrases, the specific investment vehicles you are exploring, and the market before investing. A wider view of the industries and the economic climate assists investing as well. You can find information on cryptocurrency pair trading on eToroX as well as charts and live prices, news, and analysis. When trading pairs including SUSHI/USD, you may hear the terms base and quote. Base currency is the first ticket symbol in the pair, in this case, SUSHI, with the quote currency USD. (You may also hear counter currency, which is the same as the quote.) The duo here can be understood as trading 1 SUSHI for USD, with the base currency stated as one coin versus the quote currency, which is the side that fluctuates. With regards to this pair, when you are quoted SUSHI-USD $7, you can buy 1 SUSHI token for 7 US dollars.