The Daily Breakdown takes a closer look at Amp and SushiSwap, before taking another look at the charts for Stellar (XLM).
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Crypto Corner
We’re continuing our talk about the ins and outs of the crypto market, helping investors become more familiar with the 110+ cryptoassets offered by eToro. Today we’ll discuss SushiSwap and Amp.
SushiSwap (SUSHI): Trading near $0.15 with a market cap of ~$44.5M
SushiSwap is a community-driven DEX launched in 2020 as a Uniswap fork, using AMM smart contracts for token swaps and liquidity pools across multiple networks. SUSHI supports governance, staking, and liquidity incentives, with token holders voting on proposals, treasury use, and protocol changes. While Sushi has had fee-sharing mechanics and some core-team influence, its open-source, DAO-led structure supports decentralized user participation.
Amp (AMP): Trading near $0.00048 with a market cap of ~$44M
Amp is an Ethereum-based collateral token used to secure real-time value transfers across payments, asset movement, and DeFi applications. Through Flexa integrations, AMP can be staked in application-specific collateral pools to guarantee transactions before blockchain confirmation. Holders do not receive equity, dividends, or shared protocol revenue; AMP’s role is functional, supporting payment assurance, network security, and decentralized collateralization rather than passive profit-sharing.
Check out these crypto offerings — and many more — on eToro’s Discover page and consider adding them to your watchlist. SUSHI and AMP are not currently available for NY users. Learn more.
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The Setup — XLM
Stellar had been one of the better-performing cryptoassets amid the recent selloff. While it’s still up about 14% so far in Q2, it’s been a rough run lately, with XLM down more than 15% during a five-day pullback.
However, bulls are hoping the $0.18 area can again act as support. This area was key resistance for much of the year, but became support earlier this month after XLM more than doubled from $0.14 over a multi-day stretch. The 50-day and 200-day moving averages are also near this level. If support fails, more bearish momentum could ensue.
Disclaimer:
Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.