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Investors Should Be Watching the Rising Sui Coin

In a mostly frozen cryptocurrency market, Sui (SUI) is bullish and should not be overlooked.

Over the last 24 hours, Sui rose 15.48% from $1.351 (SUI/USD) to $1.560. This is no fluke either, as the coin is up 48% over the last 7 days. You can see why we are bringing attention to it.

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How long has this been going on for? Since late October of last year, the Sui token has been steadily moving up, remaining bullish almost the entire time, which is very unike much of its competition. Analysts are saying Bitcoin may be due for major losses this year, and many of the other major coins are not looking like hot investments, but Sui coin is bucking the trend.

This crypto is up nearly 100% from 30 days ago, and it is now making a bid for a top 10 spot on the charts for volume. If it can crack that, the coin will likely stay in the public consciousness for a while, easily sliding into view of casual investors and not just those who watch the market like hawks.

What Is Sui Coin?

This crypto, though doing well, does not have the cache of much of its competition. Sui is a newcomer to the market, and it serves as a decentralized storage partner for apps and games. It has a partnership with Space and Time, which is a Web3 decentralized warehouse for data.

Because Sui is so new to the market, there is no telling if it will retain its upward momentum. What it has managed to achieve is very impressive, but consumer interest in new cryptos can be remarkably short lived. If the coin stays bullish, the sky is the limit, but there may be little to keep it going if its current momentum drops off. We expect short term gains but would not put down money on a long-term bullish lifespan just yet. 

 

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ABOUT THE AUTHOR See More
Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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