Layer 1 blockchain protocol Sui (SUI) has made headlines recently, recording an impressive 120% increase over the past 30 days, allowing the protocol’s native token SUI to outperform the top 10 largest cryptocurrencies on the market, culminating in a new all-time high of $2.35 on October 13. However, since this peak, the token has retreated by nearly 5%, largely due to growing concerns over allegations of insider selling among the project’s stakeholders. Can SUI Match Solana’s Success? Market expert LightCrypto took to social media platform X (formerly Twitter) on Sunday to express his skepticism about the sustainability of SUI’s recent gains. In a lengthy post, he noted SUI’s substantial rise, which has quintupled from its previous lows of $0.5 on August 5, amid the broader market crash that occurred that day. While the market appears to be eager for new winners, with macroeconomic conditions pointing to further price gains, LightCrypto raised two critical points that could undermine SUI’s upward trajectory. Related Reading: Dogecoin Buy Signal Hints At Upside As Funding Rate Keeps Rising Firstly, the expert questioned the rationale behin ..
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