A crypto analyst with a close eye on the cryptocurrency market has predicted a boom for the popular altcoin SUI (SUI) in the next bull market that could happen soon! Here are the details…
“Popular altcoin SUI could make ATH in the next bull run!”
cryptocoin.com As we have previously reported, one of the famous analysts Coin Bureau host Guy Turner, in the data he shared in a new YouTube video, says that Aptos (APT) rival Sui (SUI) has the ability to outperform other digital assets in the next bull market. In his words, the analyst said for SUI, “It could very easily become one of the top performing cryptocurrencies in the next cycle.” in his words.
While Turner is trending bullish on SUI over the long term, he says the layer-1 project could see “significant” selling pressure during its three-stage token unlock process between this November and May 2025. The words of the expert are as follows:
A major token will be unlocked in November of this year, May of next year, and May of 2025. Considering that SUI was sold for $0.03 (to Andreessen Horowitz) and other crypto (venture capital firms) for $0.10, this could cause significant selling pressure. Also, ordinary people participating in SUI sales on KuCoin, OKX, and Bybit are likely to experience selling pressure given that they are also buying at similar prices.
According to the analyst, SUI could be an opportunity with its low price!
Cryptocurrency analyst Turner goes on to say that despite the high interest in SUI, its price is still relatively low. According to the analyst, SUI’s recession may be due to its launch during the bear market and its price may see a spike as Hong Kong begins enacting crypto guidelines for retail investors. The words of the expert are as follows:
Despite the apparent interest in SUI, its price has so far failed to perform. According to SUI’s defense, the project is brand new and launched in the middle of a crypto bear market. SUI’s Asian focus could also push the price higher after Hong Kong enacted crypto regulations for retail investors on June 1.
According to CoinMarketCap data, SUI, which has increased by 7 percent in the last 24 hours, is instantly traded at $1,2244. Looking at the trading volume for SUI, which is traded at $ 645,931,008, the market value is $ 429,632,972.
So what is SUI?
Sui is a smart contract platform maintained by a set of unauthorized validators that play a similar role to validators or miners in other blockchain systems. Sui is the only network that can scale with the growth of Web3. The Sui platform is written in Rust. It supports smart contracts written in a Rust-based programming language called Move. SUI coin is used to pay transaction fee. It can be locked to secure the anonymous blockchain. The SUI coin provides access to the management of the protocol through the locking process. Transactions are used to pay fees related to storage or other uses of the Sui blockchain.
