• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Excessive Supply Concerns Lead to a 70% Drop in SUI's Market Debut Top Price

Excessive Supply Concerns Lead to a 70% Drop in SUI's Market Debut Top Price

user avatar

by Max Nevskyi

3 years ago


Ожидается, что количество токенов SUI в обращении увеличится примерно на 15% к концу 2023 года. Однако с момента своего первоначального появления на верхних биржах криптовалюты стоимость SUI значительно упала.

По состоянию на 5 мая стоимость одного токена SUI упала до $ 1,26, что составляет снижение примерно на 70% по сравнению с его пиковым значением примерно $ 4, что было достигнуто только за два дня до Binance. С другой стороны, пик рынка токенов на других платформах, таких как Kraken, составлял $ 1,60 или менее, подразумевая, что он находился в процессе обнаружения своей реальной ценности после своего дебюта.

SUI / USD дневной график цен.

Несмотря на это, SUI продолжает удерживать свой общий рост рынка, увеличившись почти на 1200% с момента своего первичного публичного размещения.

  • Основы цены SUI на ранней стадии
  • Is There an Overload in SUI Supply?

Fundamentals of SUI Price in the Early Stage

SUI's initial upward trend was supported by traders who saw it as a potentially more scalable layer-1 blockchain project than its competitors. Mysten Labs, the original contributor to SUI, claims that it will be the first programmable blockchain platform at an internet scale, with the ability to process approximately 300,000 transactions per second, which is significantly higher than Solana's 10,000 transactions per second.

Venture capitalists, led by Andreessen Horowitz and FTX Ventures, have invested $336 million in the SUI project through two funding rounds in 2021 and 2022. According to Mysten Labs, these rounds provided investors with access to the company's equity, rather than SUI tokens.

However, the project's token economics reveal that 14% of its 10 billion SUI supply has been allocated to investors. Mysten Labs has yet to disclose when these tokens will be distributed or any associated vesting schedule.

In April 2023, Mysten Labs repurchased the stake that was previously held by FTX Ventures, a subsidiary of the now-defunct FTX cryptocurrency exchange. Additionally, Mysten Labs regained the rights to purchase SUI tokens that were previously owned by FTX, for a sum of approximately $96 million.

Is There an Overload in SUI Supply?

Traders and analysts have expressed confidence in the Sui project's objectives to become a compelling blockchain option, but there are also reservations regarding SUI's supply schedule.

Specifically, the Sui Foundation intends to boost the SUI supply by around 15% by the conclusion of 2023. This move, as per analyst Dmitriy Lavrov, may cause traders to hold off on entering the market until prices drop further.

In the near term, the SUI price may encounter selling pressure around the $1.31 level, which could lead to a potential pullback. If a pullback occurs, the token's short-term downside target could be around $1.26. Additionally, if the market experiences oversupply, the price may drop to $1.21 by May 5 or during the upcoming weekend, resulting in a 7% decrease from its current value.

SUI/USD 15-minute price chart.

С другой стороны, аналитик Ameba предсказал, что SUI будет испытывать увеличение своей стоимости и может достичь $ 1,50 в мае. Амеба основывала этот прогноз на недавнем закрытии нисходящего сопротивления линии тренда SUI, что было значительным фактором. Crypto Mikey, другой трейдер, также сделал аналогичный прогноз повышения цены SUI.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bitcoin Price Surge Triggers Major Liquidations in Derivatives Market

chest

The recent price uplift of Bitcoin has resulted in significant liquidations within the derivatives market, with over 200 million in liquidations primarily affecting short positions.

user avatarMiguel Rodriguez

Altcoin Market Cap Stabilizes After Correction

chest

The total crypto market cap for altcoins is attempting to stabilize after a prolonged corrective phase, indicating potential accumulation.

user avatarLuis Flores

Potential Shift in Altcoin Market Dynamics

chest

Recent analysis indicates a significant increase in altcoin trading volume, suggesting a potential end to Bitcoin's dominance.

user avatarArif Mukhtar

Ethereum Price Analysis: Stability and Potential Decline

chest

Ethereum price shows signs of stability above 2,320 but faces potential decline if it falls below 2,300.

user avatarMaria Gutierrez

Aave Faces Major Crisis Amid Exploit of rsETH Bridge

chest

Aave is facing a major crisis due to an exploit at Kelp DAO, resulting in the theft of approximately $292 million in tokens and a significant drop in total value locked and AAVE token price.

user avatarDavid Robinson

Regulatory Warnings Highlight Risks of BG Wealth Sharing Scam

chest

Regulatory bodies warned about BG Wealth Sharing, identifying it as a likely scam before its collapse.

user avatarAndrew Smith

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.