A extensively 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 potential to outperform different digital property throughout the subsequent bull market.
“SUI might very simply change 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 challenge might also see “important” promote strain throughout its three phases of token unlocks, that are between this November and Might of 2025.
“There shall be a large token unlock in November this yr, in Might subsequent yr, and in Might 2025. This might lead to important promote strain, contemplating that SUI was bought for $0.03 a pop to (Andreessen Horowitz) and $0.10 a pop to the opposite crypto (enterprise capital corporations). It’s additionally attainable that there’ll be promote strain from the common people who participated within the SUI token gross sales on KuCoin, OKX and Bybit, given they acquired it at related costs.”
Turner goes on to say that regardless of the excessive curiosity in SUI, its worth remains to be comparatively low.
In response to 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 up to now 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 might additionally pump the value as soon as Hong Kong introduces its crypto laws 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
