16 Sep 2021 · 1 min read

SUSHI Extends Bull Run, ZEN Jumps on Coinbase Pro News

Source: iStock/PeskyMonkey

The price of SUSHI, the governance token of SushiSwap, a decentralized exchange (DEX), was the second-best performer among the top 100 coins today, after breaking through resistance just below the USD 15 level. Meanwhile, blockchain platform Horizen’s native ZEN token also soared higher, after news that the token is being listed on the major exchange Coinbase Pro

At 14:23 UTC, SUSHI was up by 19% over the past 24 hours, trading at a price of USD 15.37 per token.

Today’s rally for SUSHI follows a sharp bull run that is now on its third day, pushing the price up from just over USD 11 on Tuesday this week, to a high of USD 16.20 today. The move, which has happened without any major news being announced, appears to have been driven mainly by a sense that the DEX token is undervalued compared to those of other DEXes, as well as a bullish-looking chart that community members said “looks ready to explode.”

And explode the price did, shooting through the resistance area that was established between USD 14.30 and USD 14.60, to highs not seen since May.

SUSHI 90-day price chart:

Source: Coingecko.com

At the same time, Horizen’s ZEN token was up by 14% over the past 24 hours to a price of USD 100.80, making it today’s third-best performer.

The majority of the gains for ZEN over the past 24 hours were seen yesterday evening UTC time, when traders got caught by surprise by an announcement from Coinbase Pro saying it has decided to list the token.

Following the listing news, ZEN jumped by nearly 35% in a matter of minutes on large trading volumes, before later giving back some of its gains.

ZEN 90-day price chart

Source: Coingecko.com

According to the announcement from Coinbase Pro, ZEN will be tradeable on or after 09:00 pacific time (18:00 UTC), depending on liquidity conditions. For now, the token will only be available via Coinbase Pro, and not on Coinbase.com, the exchange said.
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