Bittensor

Solana

Injective

Helium

<h4><strong>Last week, the high-cap section produced 3 winners. Sui (130%), Helium (60%), and Bittensor (50%). </strong></h4> 
<p>We have 2 of them in our portfolio! But what makes Sui special? There are many reasons, including its high-quality fundamentals, team, investors, etc. But a few other interesting reasons emerged recently.</p> 
<h5><strong>#1: Grayscale involvement</strong></h5> 
<p>Grayscale <a href="https://www.grayscale.com/crypto-products/grayscale-bittensor-trust" target="_blank" rel="noopener">announced</a> two new crypto funds that invest in the native tokens of Bittensor Protocol (TAO) and Sui last week. This triggered massive fomo among investors, and the rally happened. But is Grayscale that important for the <a href="https://www.coingecko.com/en/coins/sui" target="_blank" rel="noopener">SUI price</a> action? The short answer is NO.</p> 
<p>Grayscale has only managed to accumulate $1M in the Grayscale Sui Fund yet. $1M buying pressure can NOT push SUI 80%. So, we can assume influential whales are buying SUI.</p> 
<h5><strong>#2: Substantial OTC Bids</strong></h5> 
<p>Whales have been accumulating SUI. At the beginning of the bull run, the rally was led by Injective (INJ).</p> 
<ul> 
 <li>It had excellent tokenomics</li> 
 <li>Alternative to Ethereum in DeFi</li> 
 <li>Excellent marketing and project onboarding</li> 
 <li>Successor to failed Luna</li> 
</ul> 
<p>So, we can assume that a similar coin will lead the second phase of the bull run. SUI ticks all the boxes.</p> 
<h5><strong>#3: Excellent Tokenomics </strong></h5> 
<p><img decoding="async" class="wp-image-148405 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-1-300x166.jpg" alt="" width="605" height="335" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-1-300x166.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-1-1024x566.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-1-768x425.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-1-759x420.jpg 759w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-1-696x385.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-1-1068x591.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-1.jpg 1074w" sizes="(max-width: 605px) 100vw, 605px"></p> 
<ul> 
 <li>52% supply will be allocated after 2030</li> 
 <li>Investors hold 16.6%</li> 
 <li>The team holds 6%</li> 
</ul> 
<h5><strong>#4: Vesting</strong></h5> 
<p><img decoding="async" class="wp-image-148407 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-2-300x127.png" alt="" width="669" height="283" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-2-300x127.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-2-1024x434.png 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-2-768x325.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-2-1536x651.png 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-2-992x420.png 992w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-2-696x295.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-2-1068x452.png 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-2.png 1695w" sizes="(max-width: 669px) 100vw, 669px"></p> 
<ul> 
 <li>The team and investor vestings started in May 2024</li> 
 <li>Each month, around $80M worth of tokens are unlocked</li> 
</ul> 
<p><img decoding="async" class="wp-image-148409 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-4-300x230.jpg" alt="" width="570" height="437" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-4-300x230.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-4-1024x784.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-4-768x588.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-4-548x420.jpg 548w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-4-80x60.jpg 80w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-4-696x533.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-4-1068x818.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-4.jpg 1137w" sizes="(max-width: 570px) 100vw, 570px"></p> 
<h5><strong>#5: Sentiment</strong></h5> 
<ul> 
 <li>Sui is slowly taking over the meme space from <a href="https://www.altcoinbuzz.io/?s=solana" target="_blank" rel="noopener">Solana</a>.</li> 
 <li>Ever since Solana became a top L1, the growth rate of SOL has been slow and limited. SOL can still do 5X in this bull run, but it is still not seen as a reliable chain.</li> 
 <li>The price action helped SUI massively</li> 
</ul> 
<p><img decoding="async" class="wp-image-148410 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-5-300x139.png" alt="" width="596" height="276" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-5-300x139.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-5-1024x474.png 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-5-768x356.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-5-1536x712.png 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-5-907x420.png 907w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-5-696x322.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-5-1068x495.png 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-5.png 1770w" sizes="(max-width: 596px) 100vw, 596px"></p> 
<ul> 
 <li>SUI did a full reset of the bull run. It dumped to the All Time Low levels, and whales saw this as the perfect opportunity to load up SUI bags</li> 
 <li>Thanks to this sentiment, the lending protocols added over $132M to the TVL in one week</li> 
</ul> 
<p><img decoding="async" class="wp-image-148411 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/GUnxtmWXQAAZgx4-300x169.jpg" alt="" width="644" height="363" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/GUnxtmWXQAAZgx4-300x169.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/GUnxtmWXQAAZgx4-1024x576.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/GUnxtmWXQAAZgx4-768x432.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/GUnxtmWXQAAZgx4-1536x864.jpg 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/GUnxtmWXQAAZgx4-2048x1152.jpg 2048w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/GUnxtmWXQAAZgx4-747x420.jpg 747w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/GUnxtmWXQAAZgx4-696x391.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/GUnxtmWXQAAZgx4-1068x601.jpg 1068w" sizes="(max-width: 644px) 100vw, 644px"></p> 
<ul> 
 <li>This TVL was previously achieved when SUI was at its ATH of $2.1. This means the increase is mainly because of stablecoins inflow. This will largely benefit the SUI ecosystem in the coming months.</li> 
 <li>Excluding Bitcoin, Sui is the second largest non-EVM L1 after Solana.</li> 
</ul> 
<p><img decoding="async" class="wp-image-148412 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-6-300x95.png" alt="" width="635" height="201" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-6-300x95.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-6-1024x324.png 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-6-768x243.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-6-1329x420.png 1329w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-6-696x220.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-6-1068x338.png 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/image-6.png 1414w" sizes="(max-width: 635px) 100vw, 635px"></p> 
<ul> 
 <li>This project also has an impressive Marketcap/TVL ratio. It shows how undervalued a chain is compared to the real activity in the chain.</li> 
 <li>Solana marketcap is 14 times its TVL. Ton’s marketcap is 26 times its TVL. While SUI is merely 4 times.</li> 
 <li>To understand the full impact, this number is 6.5 for Ethereum and 17 for BNBChain.</li> 
</ul> 
<h5><strong>Conclusion</strong></h5> 
<p>If we take the current Mcap/TVL ratio of Ton and the All-Time High ratios, we can assume the bull top number is usually 30 for an L1. This means the current 2B mcap shall be 2B*30 = $60B at the bull market top.</p> 
<p>The road to this $60B? The 5 Reasons we explained above. This also implies a 30X for this token from the current price.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/sui-is-soaring-road-to-60b-marketcap/">SUI is Soaring: Road to $60B Marketcap</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

SUI is Soaring: Road to $60B Marketcap

Altcoin Buzz

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