• 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

Iran Permits Nonhostile Ships in Strait of Hormuz, Bitcoin Surges

chest

Iran has announced that nonhostile ships can now pass through the Strait of Hormuz, leading to a surge in Bitcoin prices above $70,000.

user avatarArif Mukhtar

Trump Declares Truce with Iran, Market Reacts

chest

President Trump declared a five-day truce with Iran, leading to fluctuations in Bitcoin and broader market reactions.

user avatarMaria Gutierrez

Solana Foundation Unveils Developer Platform to Boost Blockchain Adoption

chest

The Solana Foundation has launched the Solana Developer Platform (SDP), an API toolset designed to help corporations and financial institutions develop blockchain-native products.

user avatarDavid Robinson

Gold Prices Plummet as Bitcoin Rises Amid Geopolitical Tensions

chest

Gold prices have dropped significantly as Bitcoin experiences a surge, reflecting shifts in investor sentiment during the ongoing US-Iran conflict.

user avatarAndrew Smith

Bitcoin Hashrate Drop Linked to Recent Price Movements

chest

A significant drop in Bitcoin's Hashrate was observed during the final week of January due to a snowstorm in the U.S., leading to a temporary decrease in Hashrate and a subsequent price crash.

user avatarZainab Kamara

Bitcoin Yardstick Indicator Shows Deep Undervaluation

chest

Charles Edwards discusses the current state of the Bitcoin Yardstick valuation indicator, indicating it is significantly undervalued.

user avatarJacob Williams

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.