SUI was one of the best assets based on the Layer-1 blockchain within a week. As a result, he reached a new record high level of $ 3.91 on the last day of this period.
As of February 7, it amounted to $ 3.15, which is approximately 13.7% lower than ATH. During this period, the asset received by 22.4%. In addition, its price increased by 102.3% in 2024. At the time of publication, SUI price costs $ 3.79 SUI/USDTField
How did Sui become a major player in the crypto industry?
During the mentioned period, 10 largest assets based on the Layer-1 blockchain were green. Nevertheless, their values grew on different fields, which influenced their rating. SUI and Cardano (ADA) were the main ones. Due to the strong price action of the SUI, he jumped over the Bitcoin cash (BCH) and Polkado to become the 14th rating of L1 tokens.
On the other hand, next to the changed positions with Aptos (APT). Now it takes 20th place among the assets of L1. From his high impulse, he exceeded several key resistance levels during the previous week. The next schedule shows its price action during the quoted period.
As shown in the image, before the price was in its current value, it briefly reached $ 3.49 US SUI/USDT. Altcoin currently has a market capitalization of about $ 9.55 billion. From the point of view of memes, the SUI blockchain has become as popular as Solan. This is because coins of memes on the network are in high demand, which leads to high prices.
For example, the Sudeng (Hippo) value based on the SUI blockchain increased by 210% for the same period. On the other hand, the price of UNI Meme coin increased by 701%.
It is interesting that bull Sui appeared after he experienced a depressive market state, which led to the bottom on August 5, when it was estimated at $ 0.46. The current ascending trend began on February 8, when it crashed above a symmetrical triangle, which extended down to $ 3.0.
SUI Price performance
After recording this impressive price performance, he entered the state of the overburden market, which hints at a possible slowdown. It has a reading RSI 35-60. In fact, the overwhelming area is from 70 to 100. However, as soon as it is 90, it indicates a possible market peak, which can lead to a very strong descending trend.
The SUI/USDT price diagram shows that the coin is in an upward trend. Firstly, the Ichimoku cloud indicator is growing sharply. This indicates a strong bull impulse. On the other hand, the average direction index (ADX) has indications 25, which is a neutral signal. In addition, the fact that the price line is much higher than the upper border of Ichimoku indicates the bull.
The main statistics of SUI
SUI is Layer-1 cryptocurrency, launched in 2023. Since then, its value has been steadily increased, despite some failures and rebounds. Over the past 24 hours, cryptocurrency had a trading volume of 3.23 billion dollars. USA, and dominance in the market amounted to about 0.28%. Since then, it has been trading over this market bottom.
Currently, he has an index of fear and greed 90, which indicates a strong positive mood of the market. It is important to note that it is inflational, with the current inflation level of 142.26%. Currently, SUI/USDT is available for trading on several leading cryptocurrency exchange, such as Gate.io Crypto exchange.
Understanding Sui Coin
This is Layer-1 blockchain, like Ethereum. This means that other blockchains can rely on him and benefit from her safety. Therefore, we expect that there are many game platforms in the Sui network.
However, at present it seems that it is much smaller than Ethereum, although it is one of its growing competitors. One thing that developers know about blockchain is a high transaction speed. It processes 297,000 transactions per second. You can best evaluate its speed by comparing it with the SOLANA blockchain, which has only 65,000 TPS.
There are many signs that its blockchain grows quickly. For example, for less than two years, its total cost (TVL) exceeded 1 billion. He has more than 25 million active users. One of the reasons for its growth is institutional investment.
To illustrate, Grayscale, asset manager, recently launched Dei Trust Greyscale Sui Trust for its accredited investors. Another striking example of the institutional interest in the coin is the launch of Vaneck Sui ETN on EURONEXT PARIS and EURONEXT Amsterdam. At the same time, investors can use this exchange note (ETN) to invest in the SUI token without buying and without keeping it directly.
SUI price forecast in 2025 and how to buy SUI
Based on current data on the SUI trade, its price can increase to $ 5 during this season, if there is a stable bull impulse. Nevertheless, some overly optimistic analysts believe that its cost can reach $ 15 SUI/USDT over the next few months.
As you note in the picture, some analysts have high forecasts for a coin. Nevertheless, existing normative and economic trends will probably determine its overall performance. The market should also maintain positive feelings in order to contribute to the development of bull impulse in the market.
How to buy SUI on gate.io?
Step 1: Register the Gate.io account
Visit the official Gate.io website and register using your email or phone number. To complete the registration, you will need to go through the personality check process (KYC).
Step 2: Deposits
After entering your account, go to the “Deposit” section. You can make the Fiat Currence or other cryptocurrencies to finance your account.
Step 3: Find the Sui trading pair
On the Gate.io home page, go to the menu and select “Trade” → “Station Trade” or “Futures Trade”. Then find SUI to start trading.
If you are a newcomer in cryptocurrency trade and are not sure in the process, visit Gate.io’s “How to buy SUIA page to check a detailed step -by -step textbook designed for beginners.
