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SUI Price Soars to New ATH: What’s Next?
In the latest ‘Everything Crypto’ podcast, the analyst fleshes out SUI price reaching its ATH, and what exactly drove the price upwards.
He kept a bullish sentiment on SUI prospects, mainly because the general trend for altcoins is always to outshine Bitcoin in this market cycle. SUI price has been able to reach new all-time highs in the recent surge and thus entered price discovery, showing very strong upwards momentum.
SUI Price Bullish Outlook: 118% Monthly Gain, New Highs Expected
The price of SUI, the leading layer-one blockchain, has increased by 118% in the last month alone and by 452% in the last year, reaching its all-time-high.
The ‘Everything Crypto’ analyst remained bullish on SUI potential, especially now that altcoins typically outperform Bitcoin in this market phase. The recent breakout to new all-time highs and price discovery mode is underway.
He concluded it would continue higher, considering the still-expanding ecosystem and actual technological and performance metrics set it apart from other blockchains.
USDC Integration and Growing Ecosystem
Another significant development is the recent launch of native USDC on SUI, which will enable the creation of more financial products in the DeFi space and give users access to digital dollar savings without exposure to traditional banks. With USDC natively present, there will no longer be a need for bridging via Wormhole or similar services that make cross-chain transactions seamless.
Renowned Analyst Predicts Rise
A widely followed crypto analyst had predicted the possibility of a new peak just hours before SUI price reached its high.
In that regard, according to Michaël van de Poppe, an analyst widely recognized for updates on what to expect from the cryptocurrency market, he told his over half a million followers on Twitter that SUI, a blockchain platform, and someone would consider a rival to Solana, was about to experience a breakout.
He forecasted a potential movement of more than 23% from its price levels and mentioned the $1.79 mark as vital support the coin already had a bounce from, jumping 10%. His projection indicated that more upside could be seen, with the target falling between $2.25 and $2.50.
Frequently Asked Questions
Q: What drove the price of SUI to new highs?
A: The general trend for altcoins to outshine Bitcoin in this market cycle.
Q: What are the key factors contributing to the growth of the SUI ecosystem?
A: Still-expanding ecosystem, actual technological, and performance metrics set it apart from other blockchains.
Q: What is the expected price movement for SUI in the near future?
A: A potential movement of more than 23% from its current price levels, with a target of $2.25 to $2.50.
Q: What is the significance of the recent launch of native USDC on SUI?
A: It enables the creation of more financial products in the DeFi space and gives users access to digital dollar savings without exposure to traditional banks.
