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 may 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 undertaking can also see “important” promote stress throughout its three phases of token unlocks, that are between this November and Could of 2025.
“There will probably be an enormous token unlock in November this 12 months, in Could subsequent 12 months, and in Could 2025. This might end in important 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 corporations). It’s additionally attainable 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 worth continues to be comparatively low.
In response to the analyst, SUI’s doldrums could possibly 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 pointers for retail traders.
“Regardless of the obvious curiosity in SUI, its worth has up to now did not carry out. In SUI’s protection, the undertaking is model new and launched in the course of a crypto bear market. SUI’s Asia focus may additionally pump the worth as soon as Hong Kong introduces its crypto laws 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 last 24 hours.
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