Ethereum

Flow

Aptos

<div class="dailyhodl">
 <p>A popular crypto trader thinks one nascent Ethereum (ETH) competitor could be on the cusp of a “considerable expansion upward.”</p>
 <p>The pseudonymous crypto analyst known as The Flow Horse calls attention to the layer-1 blockchain Sui Network (SUI).</p>
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 <p>The mainnet of Sui Network went live in early May, and the SUI token kicked off trading around $1.40. The 48th-ranked crypto asset by market cap then dipped in price across the summer and fall and plunged to a low around $0.365 in October.</p>
 <p>SUI’s price has been on the road to recovery in January, however, with the asset reaching a recent high of $1.59 at time of writing. The Flow Horse says that price trajectory also makes SUI’s future look bullish.</p>
 <p><em>“Almost every single name that has done this and re-bid over the listing has seen considerable expansion upward in the weeks that followed. Betting that SUI should be no different.</em></p>
 <p><em>Invalidated if we start re-accepting below $1.30.”</em></p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GFGtouxWMAgSbUg?format=png&amp;name=large" alt="" width="1063" height="499">
  <figcaption id="caption-attachment-190710" class="wp-caption-text">
   Source: The Flow Horse/X
  </figcaption>
 </figure>
 <p>The blockchain is a competitor of Aptos (APT), which uses the same coding language, Move, originally developed for Meta’s attempt at developing a digital asset. Sui Network runs on a delegated proof-of-stake (dPOS) consensus mechanism and aims to provide low latency and high throughput.</p>
 <p>Mysten Labs, the developers behind the project, raised $300 million in late 2022 at a $2 billion valuation.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/this-ethereum-competitor-s-potentially-on-the-cusp-of-considerable-expansion-says-top-trader-tbt78586.html">https://thebittimes.com/this-ethereum-competitor-s-potentially-on-the-cusp-of-considerable-expansion-says-top-trader-tbt78586.html</a></p>

This Ethereum Competitor’s Potentially on the Cusp of ‘Considerable Expansion,’ Says Top Trader

TheBitTimes

Other articles published on Feb 1, 2024

Jupiter Price Prediction: Solana Token JUP Plummets 63% After Launch, But This Unusual Green Pres...

FTX to Repay Creditors but Not Restart Exchange: Lawyer

BREAKING: Ripple Co-founder Fell Victim To Massive Hack, Over 213 Million XRP Lost

Singapore court denies 3AC’s dismissal request in crypto lawsuit against DeFinance Capital

Sponge Unveils Strategic Pivot To SPONGE V2 On Polygon Network Following Liquidity Pool Attack

Wise Words From a Wise Man, Vitalik Buterin Speaks His Mind

Join our free newsletter for daily crypto updates!