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Home»ALTCOIN NEWS»SUI reaches all-time high of $4 amid growing market praise
ALTCOIN NEWS

SUI reaches all-time high of $4 amid growing market praise

By Crypto FlexsNovember 20, 20243 Mins Read
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SUI reaches all-time high of  amid growing market praise
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  • SUI is surprising the cryptocurrency market with its impressive growth.
  • The token is hitting new all-time highs.
  • Market observers are praising SUI’s potential.

Sui, the native token of the layer 1 blockchain, went parabolic throughout the month, giving up several months of underperformance for fresh gains. SUI’s rise has upset several all-time highs in quick succession, establishing it as one of the best-performing altcoins in the ongoing Bitcoin-led rally.

Continuing this trend, the token has set its sights on even higher milestones.

SUI achieves $4 goal

SUI token maintains strong bullish momentum and is hitting new price highs every day. The token’s performance over the past few weeks has been largely positive, although occasional corrections have occurred.

Currently trading at $3.75, SUI is 6.67% below its ongoing next price target of $4. In an attempt to reach the previous price mark, the token briefly topped $3.9, but fell back due to lack of support. Despite recording a loss of around 5% over the past 24 hours, its current value is up 19% over the past 7 days, 82% over the past month, and a whopping 588% over the past year.

SUI’s performance has received significant praise, with market observers praising its potential. Market analyst Michaël van de Poppe ranked SUI as the top token to watch, reinforcing the hype surrounding SUI’s trajectory.

The continued praise for the token is consistent with the positive sentiment surrounding the wider network.

Cardano Founder Applauds Sui

Cardano co-founder Charles Hoskinson recently joined the growing ranks of praise for the Sui network. In October 2024, Hoskinson shared a series of posts celebrating the network’s innovation and position within the industry.

“Sui has made some real innovations.” Hoskinson emphasized that the network deserves great success in the cryptocurrency space.

Solana should have done that. I still think Cardano’s approach is superior for many reasons, but Sui has some real innovations.

— Charles Hoskinson (@IOHK_Charles) October 5, 2024

Hoskinson went on to compare Sui favorably to Solana. He reaffirmed that Cardano is ahead of both blockchains, but also noted that the network should be the Solana blockchain.

Several investors also praised SUI’s performance, emphasizing its position as a top-performing token.

On the flipside

  • Sui Network’s Total Value Locked (TVL) continues to grow, reach At the time of writing, $1.67 billion.
  • SUI recently reached 30 million active accounts.

Why This Matters

SUI token’s impressive performance reinforces its growing reputation. If the upward momentum continues, it could further increase investor confidence and contribute to the growth of the broader ecosystem.

Learn more about recent developments in the Sui network here.
Sui’s first ‘incubator hub’ goes live in Dubai

Here’s why market analysts believe altcoins will take Bitcoin’s attention.
Why Altcoin Season Is Next After Bitcoin-Breakout

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