$SUI COULD THIS BE THE SOLANA OF THIS BULL RUN 📈
🔔
Sui (SUI) is up by 50% in Seven Days: The reasons are strong enough for this rally.
SUI, a core native cryptocurrency of the eponymous L1 blockchain, is witnessing an excellent rally. Yesterday, it stopped 20% shy of the all-time high despite the pale performance of major altcoins. A dramatic upsurge can be attributed to interest in SUI-based trust by Grayscale and an optimistic report by analysts.
🎯 SUI price up by 50% in just one week, Grayscale to blame
In the past seven days, it is among the best performers in the top 100 with 50% growth. Also, the cryptocurrency, which is now the 21st largest altcoin by market capitalization, registers an unparalleled spike in trading volume and about to enter the top 20.
🔹Such an impressive rally should likely be attributed to the launch of the SUI-based trust by Grayscale, a U.S. asset manager.
🔹Starting from mid-September 2024, accredited investors might benefit from exposure to SUI's price volatility with no need to hold the asset directly.
🔹The price of SUI Trust shares on the OTC market also doubled this month, data says.
📊 Sui (SUI) still can challenge Solana (SOL), K33 Research shows
This announcement comes together with a optimisic report by K33 Research, a highly reputable analytics firm in Web3.
On Sept. 19, researchers published a statement that SUI was the most dangerous competitor to Solana (SOL), a mainstream L1 blockchain with smart contracts.
Thanks to parallelization and other tech novelties, Sui (SUI) managed to accomplish a more impressive TPS than its rivals.
However, its tokenomics, with only 27% of the SUI supply being unlocked, might be an obstacle to the asset in flipping the heavyweights.
