Layer 1 blockchain Sui It has outperformed most top-100 altcoins by over a 2-fold in the past seven days.
SUI was trading at $1.12 on Monday, August 12th. This is a gain of 148% in one week.
Sui has unlocked 1,04 billion SUI tokens since May. That’s 10.4% of their maximum 10 billion supply and 39% market cap.
Early June, early July, and early August saw 0.87%, 0.86%, and 0.84% respectively of the maximum supply released.
Similar unlocks SUI is slated to vest on a regular basis throughout the entire schedule. The monthly payments will gradually decrease until 2023.
Real Vision founder and macro guru Raoul Pal – who is on the Sui Foundation – says he’s partially anticipating Sui to begin outperforming Solana (SOL).
“Clearly, everyone is caught owning zero SUI while the price explodes. To prove itself worthy of the Next Big Thing it needs to properly prove itself vs SOL by breaking the downtrend…. not there yet and I’d be surprised if it did it immediately.”
Pal Recently said SUI began to break out on several other layer-1 chains such as AvalancheAVAXCelestia (TIAThe concerns over the tokens’ unlocking and their valuation are likely to be exaggerated in the longer term.
The game really isn’t about supply, but demand. Demand is more important than supply.
Some people dislike them because they have a very high Fully Diluted Value (FDV). It’s fun to look for places where current events are overshadowed by the price movement.
SUI currently trades at $1.07.
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