SUI showed a remarkable performance on Friday amid the market retrace. Following Bitcoin’s drop to the $55,000 mark, the cryptocurrency was among the few tokens showing green numbers with an 8% surge. The token’s performance, alongside the network’s developments, has fueled a bullish sentiment among investors. However, some analysts remain cautious of the cryptocurrency, warning that the joy could be short-lived. Related Reading: KAMA Memecoin Soars 10% Following Putin’s Endorsement Of Kamala Harris SUI Surges As Top 100’s Largest Daily Gainer SUI was among the best performers throughout August, registering 50% surges amid the market downturns. The cryptocurrency’s resilience last month was fueled by several factors, including network updates, large over-the-counter (OTC) bids, and “strong holdership through big unlocks.” Moreover, crypto asset manager Grayscale launched its investment trust, Grayscale SUI Trust, based on the cryptocurrency. As a result, the token’s bullish momentum propelled the price toward key levels not seen since mid-June. Since then, SUI has moved within a multi-month accumulation zone between the $1.2-$0.57 price range, holding the lower range as a key support area. ..
Support the originator by clicking the read the rest link below.
