Sui (SUI), a cryptocurrency, may have a promising future with its potential for significant growth in the long term, according to an analysis shared by Guy Turner, the host of the Coin Bureau channel. Turner highlighted the advantages and growth potential of SUI, stating that it meets the criteria for retail use due to its low price, which creates the perception of substantial gains. Additionally, SUI has a lower market capitalization compared to most large-cap cryptocurrencies, making it easier for its price to change. Moreover, SUI is affordable as it is listed on all major exchanges.
However, the analysis also pointed out certain metrics about SUI, such as the total value locked (TVL) and the number of network transactions, which indicate a short-term decline for the token. The data suggests that demand for SUI is not trending in the right direction, posing challenges for its price. It should be noted that this trend is observed in almost every other cryptocurrency. Currently, interest in altcoins is relatively low, which means that SUI’s price is expected to continue trending downwards in the short term, even as supply-side pressures ease.
As of now, the price of SUI stands at US$1.02, representing a 0.8% increase in the past 24 hours. Over the last seven days, the cryptocurrency has experienced a 4.8% price decline. The highest price ever paid for SUI was $2.17, recorded two months ago on March 27. In comparison, the current price is 53.04% lower than the token’s historical peak.
It is important to note that the views and opinions expressed in this article, including those of the author and individuals mentioned, are for informational purposes only and should not be considered as financial or investment advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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