SUI Price See Explosive Growth: Why Everyone's Suddenly Obsessed With This Altcoin
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Keep up with what's happening in the crypto world in real-time.
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Sui made CryptoSlate's top gainers' list for Jan. 15 following a 13% increase during the past day that pushed its value to a new all-time high of $1.43. This continues a persistent uptrend that the digital asset has enjoyed during the last 30 days, outperforming major cryptocurrencies like Bitcoin, Ethereum, Solana, etc.
SUI's peak comes after a solid month, during which the asset's price has risen by almost 130%.
At the end of December and the beginning of January, the price of Sui (SUI) was stuck below the $1 level. However, in the last four days of trading, the bulls successfully broke through this resistance.
SUI, a token backed by Mysten Labs, curated a tidal wave of speculations across the broader crypto market on Monday as the token's on-chain data showcased a monumental achievement, surpassing Bitcoin in TVL. As per on-chain insights unveiled by a DeFi protocol tracking platform, Sui now ranks 13th among all the chains globally.
Crypto Price Prediction: The crypto market has witnessed a surge in volatility since the approval of spot Bitcoin ETFs on Wednesday. Amid the ETF approval and two trading days in the U.S. market, the underlying asset BTC temporarily hit $49000 but made a quick retracement to $42000.
Bitcoin (BTC) prices have declined after the much-awaited exchange-traded fund approval, confirming a sell-the-news scenario for the bellwether digital coin. Meanwhile, top tokens, including Memeinator (MMTR), Sui (SUI), and the Solana-based Bonk (BONK), appear ready for uptrends in the upcoming seven days.
The approval of an ETF by the SEC appears to have triggered a “sell the news” scenario, as previously forecasted by various analysts. Consequently, the price of BTC is experiencing a significant decline. In contrast, altcoins remain relatively unaffected by this decline.
Sui, the proprietary token of the Sui blockchain, has recently witnessed a remarkable growth spurt. Over just four days, SUI's value escalated from $0.79 to $1.33, representing a 50% increase.
Analysts who predicted spot Bitcoin ETF approval in the US could become a “Sell-the-News” event got the maths right. The euphoria over the Bitcoin ETFs seems to be fading as jittery investors continue to offload their crypto holdings.
A rival of the leading smart contract platform by volume is soaring as the protocol's total value locked (TVL) hits a new all-time high.
According to CoinMarketCap, the world's most-referenced price-tracking website for cryptoassets, SUI is the day's top gainer at 17%, followed by FTT and BLUR.
Crypto Price Prediction: On January 12th, the cryptocurrency market experienced steady trading with a noticeable positive sentiment among investors. This comes as the Bitcoin asset class embarks on a transformative journey following the SEC's approval of 11 Spot Bitcoin ETFs.
Cryptocurrencies were awash with red in morning trade on Friday. Major digital assets, including the OG cryptocurrency Bitcoin, witnessed a drop in their prices amid a wider crypto sell-off.
The latest news about the SUI, TIA, and CAKE coins.
As the new year unfolds, the cryptocurrency market is witnessing a remarkable surge, with Bitcoin leading the charge by breaking past the $45,200 mark. This bullish trend is not just limited to #Bitcoin; altcoins like Astar and Sui are also making significant strides, with Astar reaching an impressive $0.165 per $ASTR and $Sui soaring above $0.9.Bitcoin's Resurgence: A Signal of Market ConfidenceBitcoin's ascent above $45,200 marks a significant turnaround from its previous fluctuations, instilling renewed confidence among investors.
SuiMint, a pioneering platform in the blockchain space, has officially launched the test version of its Sui Inscription trading platform, named SuiMint Inscription Marketplace. The launch marks a significant development in the Sui Network ecosystem, introducing the first real inscription market.
In a recent YouTube video, Michaël van de Poppe, a highly respected figure in the crypto analysis sphere, disclosed his top 5 altcoin picks for 2024. Van de Poppe, known as founder of Eight Global, emphasized the importance of a balanced approach over speculative bets on lesser-known altcoins.
The Sui blockchain is gaining significant momentum as Solend, a leading Solana-based lending protocol, announces its impending launch on the Sui network. This strategic move marks Solends expansion onto a blockchain other than Solana for the first time.
SuilendProtocol, also known as SolendProtocol on Solana, has taken a significant step by integrating with the Sui blockchain. It marks a pivotal moment for Solend, the largest lending and borrowing protocol on Solana, as it expands its services to a blockchain beyond its native platform for the first time.
The expansion of Solend from Solana to Sui is not only significant news for these two platforms, but also an indicator of the direction in which the DeFi world is moving.
Top Lending Protocol Expands to Sui for First Launch Outside of Solana
Unicorn crypto startup Mysten Labs wants to be the center of digital commerce with its open standard Sui blockchain.
Even as major cryptocurrencies including Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are trading at psychologically important levels amid anticipation over approval of spot Bitcoin ETFs, a pseudonymous crypto strategist expressed a bullish stance on Cosmos (CRYPTO: ATOM) and hinted at the potential rise of the Solana (CRYPTO: SOL)-based meme coin BONK (CRYPTO: BONK), a rival to the popular Dogecoin (CRYPTO: DOGE). According to Altcoin Sherpa's analysis, Cosmos, a cryptocurrency that has been relatively quiet in the market, is showing signs of activity.
