Binance News Boosts Sushi Price

The Sushi token is on the rise following the staking announcement from the Binance cryptocurrency exchange

The Sushi token is on the rise following the staking announcement from the Binance cryptocurrency exchange. When Binance announced on December 28 that it was launching a program under the name “Sushi Staking,” the token price rose to $ 2.87.

Cryptocurrency exchange Binance announced that it has launched a Sushi Staking app. According to the announcement, users who stake Sushi tokens will be able to get APY (annual interest return) of 24.49%. Sushi, which rose with the announcement, has increased by 19% in the last 24 hours, according to CoinGecko data. The token, which had an intraday low of $ 2.33, rose to $ 2.87 with the announcement.

Huge mobility seen in Binance wallet
Data shared on Etherscan shows that Binance transferred over 10.9 million Sushi to its own wallet. Twitter user state.ETH, in a share on the issue Binance has the highest stake rate with 21% compared to other exchanges, he said.

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Commenting on the issue on Twitter, however, a user named Arthur said: “I don’t believe such a large amount of Sushi balances can be controlled by any other platform other than Binance.”he commented and pointed to 10.9 million Sushi tokens transferred to the Binance balance.

About Sushi Staking program
Binance began transferring some of the sushi tokens available on the exchange to its own wallet for staking purposes. It was noted that staking operations will progress in 15 and 30-day processes. The maximum stake rate for both periods was limited to 100 thousand, while the minimum value was 10.

Sushi Current Data
Sushi, the token of Sushiswap, the uniswap forku, has a market capitalization of $ 363 million. The token, which rose with the news feed, rose 19% on the day to $ 2.88. Priced between $ 2.33 – $ 2.88 in the last 24 hours, Sushi saw $ 362 million in trading volume. The token, which is actively traded on Sushiswap during the day, is also heavily traded on the Binance cryptocurrency exchange. The current price of the token is $ 2.81.

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