Raoul Pal, a macroeconomic expert and CEO of Real Vision, highlighted Layer 1 blockchains, which he sees as key forces to watch.
Pal tells his 1 million followers on social media platform X that Solana (SOL) competitor Sui (SUI) is “acting like it’s going to be one of the key Chosen Ones of a major new chain, even if it’s not THE Chosen One.”
According to Real Vision CEO, people should “pay attention to Sui” amid bullish signals, technology upgrades, and increased adoption. Pal says one of the bullish signals Sui is showing includes a breakout from an inverse head and shoulders pattern.
“But more importantly, it broke the downtrend against SOL (and all top 20 tokens). Its relative strength in a sideways market is worth noting.”
Here’s what the macroeconomic expert had to say about the fundamentals that underpin his bullish argument for Sui:
“Speaking of the tech stack, the Mysticeti upgrade brought sub-second finality (the fastest of any chain), and the upcoming Pilotfish is expected to bring transactions per second (TPS) that surpass Solana Firedancer.
So what does Sui/Misten Labs want to achieve?
Basically, they are trying to rebuild the internet brick by brick for Web3, built to scale for Facebook/Meta sized use cases (3 billion+).
…from zero-knowledge (ZK) login to the Walrus distributed storage protocol.”
According to Pal, gaming is a potential niche for Sui to thrive in, and Circle’s announcement that it will issue a USDC stablecoin on its platform is “another great step forward.”
But Real Vision CEO says:
“But SUI is still in its infancy, and the evidence needs to come from successful, scalable applications built on top of the technology stack.”
As of this writing, Sui is trading at $1.18, up about 53% in two weeks.
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