Donald Trump scored a historic victory in the 2024 US election on November 6, sparking new excitement in the cryptocurrency world, especially with his pro-crypto promises electrifying investors.
Promising cryptocurrencies: Chainlink (LINK) and SUI (SUI)
SUI
Chain Link (LINK)
Following the decisive Republican victory, the cryptocurrency market saw a massive surge, with the price of Bitcoin (BTC) hitting an all-time high of over $90,030 on November 12, bringing fresh momentum to the broader market.
Promising cryptocurrencies: Chainlink (LINK) and SUI (SUI)
Amidst this surge, two promising cryptocurrencies, Chainlink (LINK) and SUI (SUI), stand out given their potential to reach a market cap of $10 billion before the end of the year.
Both tokens support unique growth drivers and increasing interest from institutions, making them prime candidates to reach this important valuation milestone.
SUI
The Sway ecosystem has been rapidly expanding, with the total value locked (TVL) reaching a record high of $1.41 billion, according to DeFiLlama. This reflects increased user trust and activity within the Sway network, positioning it as a strong player in the decentralized finance (DeFi) space.
Currently, SWI is priced at $3.12, and its market cap has reached $8.83 billion, putting it close to reaching the $10 billion mark.
This recent surge in value is fueling strategic partnerships and ecosystem growth. For example, the announcement of MemeFi as the first Telegram mini app to partner with Sway is increasing network activity.
Moreover, the Sui ecosystem has seen a significant increase in liquidity recently, with daily trading volume reaching $2 billion, according to Santiment data.
Additionally, Scallop (SCA), a major player in the Sway DeFi space, has seen its token price surge by 92% over the past week, reflecting high demand for Sway-based financial solutions.
Chain Link (LINK)
Chainlink is at the forefront of cross-chain technology, establishing itself as a global gas token that supports multiple blockchains.
At a current price of $13.92 and a market cap of $8.72 billion, Chainlink continues to rise steadily, supported by its unique utility of enabling users to pay network fees across different blockchains.
By establishing LINK as a global gas token, Chainlink’s new strategy allows users to pay fees with LINK and get a 10% discount, incentivizing high-volume users.
For example, Chainlink's CCIP v1.6 cross-chain invoicing solution integrates different tokens into LINK for payment, simplifying the fee process for developers.
As a result, LINK becomes central to Chainlink’s future growth, increasing its demand across the blockchain space.
For investors and traders, both assets offer attractive entry points backed by strong fundamentals and technical indicators.
Monitoring key levels, trading volume, and ecosystem updates will be crucial for those looking to maximize benefits as LINK and SUI prepare for their next phase of growth.
Frequently Asked Questions
What is the reason for the rise in the price of Bitcoin and interest in cryptocurrencies after Donald Trump’s victory?
Donald Trump's decisive victory and pro-crypto promises have increased investor interest, leading to a surge in the cryptocurrency market and Bitcoin reaching an all-time high.
How does the growth of the SUI ecosystem drive market value?
The rapid expansion of the Sui ecosystem, increased partnerships and application usage, along with high liquidity flow, are all factors that increase the roots of trust in Sui, bringing it closer to reaching a market capitalization of $10 billion.
Why is Chainlink (LINK) an important investment value in the blockchain sector?
Chainlink, as a global gas token, provides a unique solution for paying network fees across different chains with discounts, which stimulates its wide adoption and increases its demand in different blockchain environments.