• Filecoin integrated the SushiSwap v2 and v3 AMM on its network.
• FIL price may pullback but a move higher than $4.50 may be close.

Decentralized storage network Filecoin [FIL] has adopted SushiSwap [SUSHI] as its first Decentralized Exchange (DEX). To be clear, a DEX is a cryptocurrency exchange that operates on the blockchain without any intermediary. 

SUSHI gets added to the storage

According to SushiSwap’s official X handle, both the v2 and v3 Automated Market Maker (AMM) would be deployed on Filecoin. 

An AMM is a DEX that makes it easy for traders to buy and sell cryptocurrencies using robot algorithms instead of the usual traditional order book.

SushiSwap also revealed that users would be able to make cross-chain transactions on Filecoin across 30 different blockchains.

According to DeFiLlama, SushiSwap’s DEX volume increased by 95.84% in the last seven days.

This jump in trading volume indicates that users have been actively using SushiSwap. It also means that there is a wide range of tokens available for exchange, thereby increasing the liquidity on the chain.

In terms of the price action, SUSHI, despite a 77.89% 30-day increase has decreased by 15.94% in the last seven days. The plunge in price could be l

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Author: Victor Olanrewaju

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