On October 12, 2024, the new public chain token Sui broke through the previous high of $2.18, establishing and replacing Bitcoin as the leading asset in the cryptocurrency market, heralding the commencement of the major bull market in 2025.
The official confirmation of the major bull market in the cryptocurrency space in 2025 is still pending Bitcoin's effective breakthrough of $73,000 again. We are currently in the early stages of the bull market, with overall coin prices quite low. When Bitcoin effectively breaks through $73,000 again, many altcoins will rise significantly, and retail investors will hesitate to invest. Today marks exactly seven months since March 14, 2024, when Bitcoin reached its historical high of $73,000, and this situation is clearly a washout pattern characterized by sideways movement instead of a decline.
Sui has shown strong price performance recently, rising from a low of $0.463 in August to a high of $2.366 today, a surge of approximately 411% in two months.
From a long-term perspective, I remain bullish on Sui. Firstly, Sui has been increasing in price with reduced volume over the past month, not due to speculation-induced volume spikes. This genuine favorable-driven increase, even in a correction, will only oscillate at high levels and will not plummet back to the starting point.
Moreover, Sui not only has favorable factors but is also developing into 'the second public chain of the United States.' Currently, in the U.S. cryptocurrency market, Sol represents the pinnacle of the Rust language, while Sui represents the pinnacle of the Move language. A year ago, Sol released its own phone, and its price has increased fivefold since then. A month ago, Sui launched its own handheld gaming device, and it is still in the initial stage.
More importantly, Sui's previous highest price after being listed on Binance was only $2, and it hasn't experienced a blowout in the last bull market like other tokens. It's hard to imagine what Sui would reach if it explodes—$20 or $100.
Recently, Sui has received a succession of positive news. First, Grayscale announced that Sui's trust fund is officially open for qualifying investors to purchase, while Sui launched its own handheld gaming device. Subsequently, the world's second-largest stablecoin issuer announced the issuance of USDC on the Sui chain. Recently, Sui also collaborated with Apt to create a Move pump, among other things.
A series of factors have contributed to Sui's continuous rise. However, Sui has now reached an all-time high, and the resistance to further increases is strengthening. The price is likely to experience significant corrections due to profit-taking returns in the short term.
Sui continues to break through, and this round of rebound is quite fierce. Especially for those trading contracts, shorting strong coins is not advisable, and trying to catch the top is not recommended. The current slogan has become that Sui is the Sol of the last round.
This round of Sui speculation was initiated by institutions, telling the narrative of replacing Solana. The influx of funds into public chains benefits not only coin prices, but also TVL, ecological projects, especially meme coins.
The bull market in the cryptocurrency market has begun, so get ready for the exciting trends in the coming months. The Bitcoin correction has ended, the monthly line has successfully reached the upward trend line support, and it has stabilized, preparing for the second round of increase, with the target being a historical high. Ethereum has entered the second half, and with multiple favorable factors such as ETFs, ecological development, and positive deflation, the momentum will only strengthen; just continue to wait patiently.
The main narrative of the bull market, new public chains, AI, gaming, MEME staking, and RWA are still effective. The overall market direction remains upward, and the stabilization after a significant increase is the best entry point. Avoid frequent portfolio changes; past bull market experience tells me that abandoning chips bought at the bottom and chasing after increases is often the easiest way to incur losses in a bull market. Only when the wind comes can we dance gracefully.
Altcoins will definitely experience several waves of explosive growth. However, at that time, it will depend on which ones can tell a story and which ones have capital favor. Choosing coins is very important.
The altcoin bull market is the ultimate manifestation of the wealth creation effect in the cryptocurrency space. Without a strong altcoin market, it is insufficient to attract external funds into the space, and the capital required for altcoins is not that high, making it highly cost-effective and aligning with the interests of all parties. Recently, despite the overall market appearing calm, some altcoins have seen explosive growth, such as the newly listed MEME on Binance and the fan segment. These hotspots have not only attracted the attention of numerous investors but have also stimulated market activity.
Currently, the arrival of the bull market is getting closer, but during this waiting period, the market may experience sharp declines and fluctuations. Over the past six months, the market has undergone a long period of correction, with most coins at low levels, and valuable coins are severely undervalued.
At the peak of each bull market, a new generation of public chains with a market capitalization exceeding $50 billion emerges. ETH, BNB, ADA, and SOL have all undergone this. The 2025 bull market is likely to be Sui. According to past methods, the leading new public chain's price increase from the early minimum will exceed 500 times, while meme leader coins under the leading new public chain will see increases exceeding 1,000 times. The meme leaders under the new public chain during the bull market are the focus of investor attention.
