SUSHI Vs. CRV: Which Is the Better Exchange Coin?
August 5, 2022 at 7:00 am
by Samuel Mbaki Wanjiku
The SUSHI token is the native token of the exchange known as the SushiSwap. On the other hand, the CRV token is the native of the exchange known as the Curve Dao. As time passes, the exchange gradually distributes the rewards and incentives for using cryptocurrencies to other DeFi competitors. For instance, in the long run, it is expected that the development of Curve Finance will be successful.
Its subsidiary, SushiSwap, aims to improve its users’ impact by increasing their impact on the company’s operations.The platform takes a 0.3% cut from the transactions in its liquidity pools. In return, users can receive the SUSHI tokens as rewards. It also allows them to have governance rights.
The SUSHI token is currently 150 on the coinmarketcap, while the CRV is 73. This ranking is a reflection of their market capitalization and various other attributes. SUSHI token currently trades at around $1.16, while the CRV token is around $0.9578.
What Are Crypto Exchange Tokens?
A cryptocurrency exchange is a financial transaction that allows users to buy and sell cryptocurrencies. It is a secure and user-friendly platform that offers the same features as traditional financial services. However, it also enables users to access a broader range of digital assets.
Due to the blockchain industry’s evolution, cryptocurrency enthusiasts have introduced crypto exchanges. One of these is the creation of exchange tokens. They came up to provide a secure and convenient way for people to trade digital assets.
A cryptocurrency exchange token is a type of digital asset that is native to the exchange. It increases the exchange’s liquidity or facilitates a community governance process. Generally, exchange owners give tokens to encourage trading activity and improve the exchange’s overall liquidity.
The in-house token for the SushiSwap exchange, SUSHI, is created at a rate of around 100 tokens for each block. The first 100,000 block rewards were for 1,000 SUSHI. The block rate will determine the supply.
Around 650,000 newly-minted tokens are issued each day on the platform. By September 2021, there will be around 300 million tokens in circulation. Notably, SUSHI had no premine, and its supply started with zero tokens. It was first minted on the Ethereum block 10,750,000.
SUSHI Price Prediction
If the bullish trend continues, the SUSHI will reach $9.93 by the end of 2022. However, the price will eventually slow down, and enthusiasts do not foresee any major falls. Despite this, the outlook for the stock is still positive. It is due to the various developments that the developers have lined up to happen soon.
Suppose SUSHI holds its 200-MA support level at around $74. In that case, it will allow buyers to easily target the next major resistance level at around $75, serving as the upper boundary of a potential bounce.
In the next five years, SUSHI prices might reach around $750. It is a significant increase from the current level and indicates that the company is likely to be able to achieve a new ATH soon. Aside from this, other factors such as the short and long-term price targets could also help SUSHI reach this level.
The CRV token was released in August 2020. It is a utility and governance token of CurveDAO, which runs the Curve protocol.
The voting weight of the tokens belonging to the platform users will be proportional to the lock time. When liquidity providers provide them with a pool, they can earn CRV tokens with a decreasing distribution rate.
Aside from providing liquidity, users also need to use veCRV tokens to access the platform’s various features. In simple terms, veCRV is the token users get when they lock their CRV. The longer they lock their CRV, the more veCRV they get.
CRV Price Prediction
The rise of the protocol could lead to a significant increase in its user base and volumes. In 2023, the price of CRV could reach around $17.831. However, on the other hand, if the price is lower, it could reach about $8.46.
The rapid emergence and evolution of the DeFi space could confirm the viability of the curve in the long run. It could also lead to huge profits for the network’s investors. The asset’s price could reach a maximum of $55.266 within five years. However, its minimum and average possibilities are at $22.179 and $36.531, respectively.
Summary of the Comparison Between SUSHI and CRV Tokens
AttributesSUSHI TokenCRV TokenSymbolSUSHICRVCMC rank15073Market Cap$147,732,843$517,411,893Max supply250,000,0003,303,030,299Circulating Supply127,244,443.00 SUSHI537,372,110.65 CRVDaily trading volume$66,326,527$175,427,285All Time High$23.38$6.9All Time Low$0.6$0.3829
A Look into SUSHI and CRV Performance
AttributesSUSHICRVPrice in USD$1.16$0.9578Change in 24 hours %5.11%– 0.77%Change in 1 week %-16.35949.14%Change in 1month%-30.242-23.828%Change in 1 Year-610.256-89.977%
Which Coin Will Attract More Investors in the Long Term?
SUSHI provides users with various perks, such as partial earnings. Even though you’re not using the app, you can still benefit from its liquidity. With the various developments happening in the ecosystem and the overall crypto market, we’re sure that SUSHI will continue to grow.
Since its developers established it as an AMM for stablecoin trading, Curve has gained widespread attention. The launch of the DAO and the CRV token has also brought in further profitability. The two cryptocurrencies were created using the governance framework established by the company.
Due to the increasing number of DeFi trading platforms, the industry’s longevity has ensured that the platform has maintained its popularity. Users make use of it for yield farming and liquidity mining. It also makes money by charging a small fee to its providers.
Although both of these cryptocurrencies have a lot of resemblances, SUSHI and CRV are quite different from one another. In terms of growth, CRV is rising quite fast and is ahead in terms of market capitalization and rank. However, in terms of price, SUSHI wins. As for future growth, volatility is still an issue hence one can only speculate, not affirm the top token.