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>
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 <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">
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   Source: The Flow Horse/X
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 <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>
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<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

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