The host of the Coin Bureau channel, Guy Turner, is offering his price projections for Solana (SOL) competitor Sui (SUI).
Turner tells the 2.48 million subscribers of the Coin Bureau YouTube channel that Sui possesses “serious potential” over the long term.
On the reasons for his bullish thesis, the Coin Bureau host says,
“[Sui] meets the criteria of a crypto that retail could ape into. It has a low price tag, which gives the illusion of large gains. It has a lower market cap than most large-cap cryptos, which means that it takes less money to move its price. And it’s accessible as it’s listed on all major exchanges.”
Sui is trading at $1.03 at time of writing, down by around 53% from the all-time high price of $2.17 reached in late March.
According to Turner, various metrics on Sui such as the total value locked (TVL) and the number of on-chain transactions suggest a short-term bearish future for the Solana rival.
“What is clear is that many of these on-chain metrics suggest demand is not trending in the right direction and this spells trouble for Sui’s price. In Sui’s defense, the same trends can be seen with almost every other crypto.
As I mentioned a few moments ago, altcoin interest isn’t very high at the moment. This means that in the short term, Sui’s price is likely to continue trending lower, along with its demand-side metrics, even if the supply-side pressures ease.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
Credit: Source link
