SUI Drops 8.63%
Sui has experienced an 8.63% decrease in the last 24 hours, leaving the crypto community unsure of its future trajectory. Will this dip lead to a significant uptrend, or are there even lower lows on the horizon?
SUI Price Chart August 25th
- SUI’s price dropped to $0.54, resulting in a market capitalization decrease of 8.63% to $393.6 million.
- The trading volume also decreased by 40% to $178.7 million.
What is SUI?
SUI is a layer-one blockchain that aims to address latency issues in executing smart contracts. It uses a new programming model and a Byzantine consistent broadcast protocol to enhance safety, scalability, and reduce latency.
SUI intends to become a hub for various elements of Web 3, including NFT games, DeFi, and metaverses. It was created by Mysten Labs, a team led by five engineers formerly from Facebook.
SUI Price Analysis
The daily chart for SUI reveals a pattern of two consecutive greens followed by two straight reds. The current price point of $0.54 may act as psychological support, potentially leading to a price increase. However, if SUI experiences another red candle, it could move to a lower point.
Current indicators, such as an RSI of 44 and a negative MACD, suggest lukewarm community interest in SUI. Therefore, investing in other crypto assets with better utilities may be a wiser choice.
SUI Alternative – YPRED
YPRED is an AI-driven crypto that has gained momentum during its current presale. It offers utilities for traders, developers, quants, analysts, and marketers. yPredict provides an AI model marketplace and predictive analytics tools for investors to make informed decisions.
YPRED has already raised over $3.5 million in the presale and is available at a discounted price of $0.1. It aims to increase crypto adoption through AI-driven objectives.
Hot Take
While SUI has experienced a recent decrease in price, its future remains uncertain. Investing in alternative cryptos, such as YPRED, that offer more robust utilities and potential for growth may be a better choice for crypto enthusiasts.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
