Raoul Pal, a macro expert and CEO of Real Vision, has highlighted one blockchain token based on smart contracts that he believes has potential.
Pal told his 1 million followers on social media platform X that the native token of its layer 1 blockchain, Sui (SUI), was “starting to get very interesting from a price standpoint.”
“… I’m looking at all the major tokens for the next Solana type opportunity, and I think this (Sui) is one of them.”
According to the macro expert, SUI is “making a breakthrough for most tokens” and is “one of the fastest horses in the race.”
Pal said that Sui stands at a breakthrough when compared to the native token of Avalanche (AVAX), a layer 1 blockchain.
Unlike Celestia (TIA), a decentralized network focused on minimizing the costs and technical hurdles of building a blockchain, Pal says SUI is also escaping the downturn.
Compared to Bitcoin (BTC), macro experts say that SUI has already broken out of its downtrend.
On the potential downside risks facing SUI, a macroeconomic expert said:
“Yes, there are token unlocks, but the worst is over and the game is really about demand, not supply. Supply is known and demand is a swing factor.
Yes, it is a high fully diluted value (FDV) coin and some people don’t like that. I like to find where the current narrative is overwhelmed by the price action.”
High FDV crypto assets have high valuations but have low initial circulating supply, suggesting the potential for significant dilution in the future.
Pal is a board member of the Sui Foundation, which supports and empowers builders of the Sui blockchain ecosystem.
Don’t miss out – subscribe to receive email notifications straight to your inbox
Price check task
Follow us XFacebook and Telegram
Surfing the Daily Hodl Mix
 
Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.
Generated image: Midjourney