SushiSwap (SUSHI) and Synthetix (SNX) in trouble as institutional interest slows down
|- Grayscale recently rebalanced its portfolio, dropping SushiSwap and Synthetix out.
- SUSHI and SNX out of the institutional giant crypto portfolio as the cryptocurrencies failed to meet market capitalization criteria.
- Analysts predict a further drop in SUSHI and SNX prices as institutions pull capital out of the tokens.
Grayscale kicked SushiSwap and Synthetix out of its portfolio as part of its quarterly rebalancing. The crypto asset management giant dropped SUSHI and SNX as the two assets failed to meet the qualifying criteria.
SUSHI and SNX prices could suffer as institutional interest wanes
SushiSwap (SUSHI) and Synthetix (SNX) could suffer a massive drop in prices in response to waning institutional inflow. Grayscale, a crypto investment giant, shifted its crypto portfolio as part of its quarterly rebalancing, making changes to the assets that are part of its funds.
The institutional giant added Polkadot, Avalanche and ATOM to the crypto assets in its portfolio. At the same time, Grayscale dropped SushiSwap and Synthetix out for failing to meet its crypto market capitalization criteria.
Grayscale is considered one of the largest institutional investors in crypto; therefore, removing SUSHI and SNX could negatively influence the adoption and demand for the two cryptocurrencies.
Proponents believe the failure of SushiSwap and Synthetix in meeting the market capitalization criteria indicates a drop in investors' interest in the crypto assets.
Analysts have evaluated the price trend of SushiSwap and Synthetix and predicted further drop in the asset's prices.
@BabyPips, a reputate market media outlet, believes SushiSwap price has busted through crucial inflection points, and it's now gaining traction. A pullback in SushiSwap price is likely; the analyst believes the token could suffer a drop in its price.
@CryptoFaibik, a pseudonymous crypto analyst, argues the Synthetix token has offered 56% profit to investors. The analyst believes there could be a pullback in Synthetix price. Institutional interest in the token continues to wane.
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