A broadly 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 belongings throughout the subsequent bull market.
“SUI might 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 undertaking might also see “vital” promote stress throughout its three phases of token unlocks, that are between this November and Could of 2025.
“There will likely be an enormous token unlock in November this yr, in Could subsequent yr, and in Could 2025. This might end in vital promote stress, contemplating that SUI was bought for $0.03 a pop to (Andreessen Horowitz) and $0.10 a pop to the opposite crypto (enterprise capital companies). It’s additionally doable 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 received it at comparable costs.”
Turner goes on to say that regardless of the excessive curiosity in SUI, its value continues to be comparatively low.
In keeping with the analyst, SUI’s doldrums could possibly 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 tips for retail traders.
“Regardless of the obvious curiosity in SUI, its value has to date did not carry out. In SUI’s protection, the undertaking is model new and launched in the midst of a crypto bear market. SUI’s Asia focus might additionally pump the worth as soon as Hong Kong introduces its crypto rules for retail traders 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
