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Home»ALTCOIN NEWS»Solana Killer Sui has serious long-term potential, Coin Bureau host Guy Turner said. But there’s a problem.
ALTCOIN NEWS

Solana Killer Sui has serious long-term potential, Coin Bureau host Guy Turner said. But there’s a problem.

By Crypto FlexsJune 3, 20242 Mins Read
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Solana Killer Sui has serious long-term potential, Coin Bureau host Guy Turner said.  But there’s a problem.
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Guy Turner, host of the Coin Bureau channel, is providing price predictions for Solana (SOL) competitor Sui (SUI).

Turner told the Coin Bureau YouTube channel’s 2.48 million subscribers that Sui has “serious potential” for the long term.

As for the reasons for his optimistic thesis, the Coin Bureau host says:

“(Sui) meets the criteria for a cryptocurrency that retail can emulate. The low price creates the illusion that you can make a big profit. It has a lower market capitalization than most large cryptocurrencies, so it takes less money to move its price. And it’s listed on all major exchanges so it’s accessible.”

Sui is trading at $1.03 at the time of this writing, down about 53% from its all-time high of $2.17 reached in late March.

According to Turner, various indicators for Sui, such as total value locked (TVL) and number of on-chain transactions, suggest a near-term bearish future for the Solana rival.

“What is clear is that many of these on-chain indicators suggest that demand is not trending in the right direction, and this is causing problems for the price of Sui. In Sui’s defense, the same trend can be seen in almost every other cryptocurrency.

As I said a moment ago, interest in altcoins is not very high at the moment. This means that even if supply-side pressures ease, the price of Sui is likely to continue to trend downward along with demand-side indicators in the short term.”

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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