What's Driving Token Prices? (April 27, 2022)

SUSHI (-11%) - Sushiswap released a restructuring proposal yesterday to lay out how the team and business will move forward. Specifically, it defines salaries, establishes a compensation committee, and allocates resources toward the future executive search for a new CEO. So far, the proposal has had broad support across the community.
BTC (-5.3%) - Fidelity announced yesterday that it would allow 401k retirement accounts to purchase Bitcoin subject to employers’ approval. Individuals would be able to invest up to 20% of their portfolio in Bitcoin under this provision, potentially opening up a sizable swath of new capital to invest in Bitcoin.
TRX (+0.7%) - Layer 1 blockchain Tron announced last week it would launch an algo stablecoin, similar in design to Terra’s UST. USDD aims to have a 30% “risk-free rate” by raising a yield reserve of $10B.
APE (+20%) - Apecoin, the token issued by the creator of the Bored Ape Yacht Club NFT collection, soared last week as the project announced the “Otherside” land sale for the BAYC metaverse will begin on April 30.

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