Hello every ONE. Probably Before the 2nd downgrading ahead 2 coins kept my attention because of their resistance to fall those coins are $SUI and $FTM I look a little bit deeper to SUI and see some dangerous situation.
SUI seems locked it's 52% of coins until 2030
That is very good for coin to be trusted and it look the developer not have an intention to manipulate the coin incase of over valued if happened.
SUI ATH was 2.18 USD and from that value get down to 0.36 USD just a couple of month ago was traded for 0.6 or 0.7
I have a different approach to the graphic in terms of txn. And vol. In the option side,
With a trading volume about 57 B USDT, and 50 billion coins changed hands in zone 1 within 5 months. And then with a volume of 18 B, the average price per transaction was pulled back by 1.14 USDT. In zone 2 Currently, with a volume of 33.99B USDT, 28 billion coins changed hands in 2 months, and the average cost per transaction is was 1.22 USDT. Until now In the September and October rise, 33B USDT volumes has been consumed so far. SUI, which started its rise with a volume of 57-18 = 39 billion, has a volume of 5 B USDT left to go. This makes me think that for a coin that makes a daily volume of 2B USDT, it can continue its upward trend for a maximum of 3 more days. The coin, which gains 0.12 USDT value with every 3 B USDT volume, is likely to fall to the range of 1.22-1.30 USDT after rising to the range of 2.08-2.12USDT in the next 3 days, if it cannot find fresh volume (you know what I mean: a nonsense person buy this already 3x raised coin from this almost new ATH level) . The problem is that the amount of SUI held by normal users is around 500 million and there is a risk that the staked SUIs (approximately 1 B ) might be offered to the market at any time. Check Attached liat of shares
You could calculate 1.14 USDT by deviding 57B /50 B coins
So I am bullish till 2.1 and then totally bearish to 1.22 until the end of October
Let's see if this theory of mine turns out to be true or not, what do you think? Wish you all the best.