A extensively adopted crypto analyst says one altcoin has the potential to be a high 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 in the course of the subsequent bull market.
“SUI may very simply turn out to be one of many top-performing cryptocurrencies within the subsequent cycle.”
Though Turner is long-term bullish on SUI, he says that the layer-1 challenge can also see “important” promote stress throughout its three phases of token unlocks, that are between this November and Might of 2025.
“There will probably be an enormous token unlock in November this 12 months, in Might subsequent 12 months, and in Might 2025. This might lead to important promote stress, contemplating that SUI was offered for $0.03 a pop to (Andreessen Horowitz) and $0.10 a pop to the opposite crypto (enterprise capital companies). It’s additionally potential that there’ll be promote stress from the common people who participated within the SUI token gross sales on KuCoin, OKX and Bybit, given they bought it at related costs.”
Turner goes on to say that regardless of the excessive curiosity in SUI, its worth continues to be comparatively low.
Based on the analyst, SUI’s doldrums may very well be as a result of it was launched throughout a bear market, and its worth ought to see a lift as soon as Hong Kong begins enacting crypto tips for retail buyers.
“Regardless of the obvious curiosity in SUI, its worth has to this point did not carry out. In SUI’s protection, the challenge is model new and launched in the course of a crypto bear market. SUI’s Asia focus may 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% acquire over the last 24 hours.
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Featured Picture: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia
