So, grab for your hardware wallets, gentlemen, there is a new crypto giant on the horizon that is ready to make some noise. Meet Sui (SUI), the token that seems to be rising higher than a cat up a curtain. With a mind-boggling 15. 24 hours and has risen by 41%, SUI has managed to be offered at a price of $1. 38, which has left many investors purring with delight.
So let’s dig our teeth into these numbers, shall we? Sui’s market capitalization has soared to a mere $3,691,452,835, which places it at position 25 in the crypto ranking. It is like going from being a beggar in the dark alley to being a king in an apartment on the same night! This has also been seen to have a positive impact on the trading volume which has increased by 23%. By the last day, it increased by 08% reaching $855,671,504. Traders are reacting to SUI with much more enthusiasm than a cat to a mouse, it appears.
As for the supply, there’s 2,679,963,750 SUI tokens floating in the market right now, which is approximately 26%. This will be done with a cap of 8,000,000,000 SUI which is 80% of the total token supply of 10,000,000,000 SUI. Well, that’s correct; we are talking about a maximum total supply of 10 billion tokens here. In the crypto world, that’s like saying that there is no ceiling and that this analogy is more like the top of the cat tree.
But what is the reason for this Sui craze all of a sudden? Is it the same as other crypto catnip or is there more to the feline frenzy? As with all things related to cryptocurrency and blockchain, it is often difficult to identify specific causes, but some are attributing Sui’s issues to its novel take on the technology.
You see, Sui is not some random ERC-20 token that you get to see every now and then. It is integrated into a high-performance, scalable and secure smart-contracting platform that is targeting to address some of the major issues that are associated with blockchain technology. In a world that appreciates speed and efficiency, Sui has delivered on the possibilities of lightning-fast transactions and low fees to developers and investors.
Sui has been developed to improve on the strengths of centralized systems while eliminating their weaknesses by incorporating the benefits of decentralized systems. Indeed, it is as if they have scooped the best of the crypto and have churned it into a blockchain mousse that can be savored and is healthy for the investment portfolio.
However, like any investment it is necessary to do it carefully, especially when dealing with cryptocurrencies, which are still rather risky. The crypto market can be as volatile as a cat’s temper after waking up from a long nap. Today the information can be considered as a trend, however, tomorrow it can be considered as the outdated information. Nevertheless, Sui’s latest results are indeed encouraging, however, it is also important to keep your eyes open and your money well spent. So, please, do not fall for FOMO (Fear Of Missing Out) which is the last thing you want in the world of crypto.
From a broader perspective, Sui’s recent achievements might be the beginning of a new trend of high-performance blockchain solutions. Or they could be a short lived fad before the next hot trend takes over the airwaves and the internet. Well at this point, it is really anyone’s guess. However, one thing is clear, Sui has definitely made its paw print on the crypto world.
So, what’s your take? Is Sui the next major player in the crypto sphere or just another digital currency to be wiped off like the cat’s paw prints in the litter box. As they say, only time will tell how this space will evolve but it is going to be an interesting watch for sure. Perhaps in a few years from now, SUI will become the norm and we will be using it for our day to day transactions. Until then, keep your crypto wallet near you and your private keys even nearer!
As you will shortly find out, in the realm of cryptocurrency, the proverb ‘curiosity killed the cat’ is far from the truth – and for the cat, that may not be the worst thing in the world! Therefore, always be alert, flexible and perhaps, you might be the one lucky enough to spot the next big thing before it becomes the next big thing. Have fun trading, dearcrypto and may your profits be as high as Sui’s recent results!
