Guy Turner, the host of the popular Coin Bureau YouTube channel, has shared his price predictions for Sui (SUI), a competitor of Solana (SOL). With over 2.48 million subscribers, Turner believes that Sui has significant potential in the long run.
Explaining his optimistic stance, Turner points out that Sui meets the criteria of a cryptocurrency that retail investors could easily invest in. It has a relatively low price, which gives the impression of substantial gains. Additionally, Sui has a lower market capitalization compared to other large-cap cryptocurrencies, making it easier to influence its price. Moreover, Sui is easily accessible as it is listed on major exchanges.
As of now, Sui is trading at $1.03, which is a decline of approximately 53% from its all-time high of $2.17 in late March.
However, Turner believes that various metrics, including the total value locked (TVL) and the number of on-chain transactions, indicate a bearish short-term future for Sui as a competitor to Solana. He suggests that the declining demand reflected in these metrics could pose challenges for Sui’s price. Turner also notes that the current lack of interest in altcoins further supports the likelihood of Sui’s price continuing to decline in the short term, even if supply-side pressures ease.
To stay updated on the latest news, subscribers can subscribe to receive email alerts from Coin Bureau. They can also check the price action of Sui and follow Coin Bureau on various social media platforms such as Twitter, Facebook, and Telegram.
Please note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. The article emphasizes that transfers and trades are done at one’s own risk and any losses incurred are the investor’s responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it serve as an investment advisor. It should also be noted that The Daily Hodl engages in affiliate marketing.
(Image: DALLE3)
