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A broadly adopted crypto analyst says one altcoin has the potential to be a prime performer within the subsequent market cycle.
In a brand new video replace, Man Turner, the host of Coin Bureau, says that Aptos (APT) competitor Sui (SUI) has the aptitude to outperform different digital property through the subsequent bull market.
“SUI might very simply develop into one of many top-performing cryptocurrencies within the subsequent cycle.”
Though Turner is long-term bullish on SUI, he says that the layer-1 undertaking may additionally see “important” promote strain throughout its three phases of token unlocks, that are between this November and Might of 2025.
“There might be an enormous token unlock in November this 12 months, in Might subsequent 12 months, and in Might 2025. This might end in important promote strain, contemplating that SUI was offered for $0.03 a pop to (Andreessen Horowitz) and $0.10 a pop to the opposite crypto (enterprise capital corporations). It’s additionally potential that there’ll be promote strain from the common of us who participated within the SUI token gross sales on KuCoin, OKX and Bybit, given they acquired it at comparable costs.”
Turner goes on to say that regardless of the excessive curiosity in SUI, its value remains to be comparatively low.
In keeping with the analyst, SUI’s doldrums might be as a result of it was launched throughout a bear market, and its value ought to see a lift as soon as Hong Kong begins enacting crypto pointers for retail buyers.
“Regardless of the obvious curiosity in SUI, its value has to date didn’t carry out. In SUI’s protection, the undertaking is model new and launched in the course of a crypto bear market. SUI’s Asia focus might additionally pump the value as soon as Hong Kong introduces its crypto rules for retail buyers on the first of June.”
SUI is buying and selling for $1.22 at time of writing, an over 10% achieve over the past 24 hours.
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Featured Picture: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia
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