$BTC The native token of the decentralized smart contract platform Sui (SUI) kicked off the week with an all-time high of $4.96, buoyed by an overall bullish trend in the cryptocurrency market.
The momentum was short-lived, as SUI experienced a significant retracement on Friday, plummeting nearly 30% to $3.49. However, the token rebounded swiftly, stabilizing at approximately $4.55, representing a 12.8% increase from the week’s low and just 8.9% shy of its record price,
$SUI Surges Amid Market Volatility
In stark contrast, major cryptocurrencies like Bitcoin (BTC) and Ethereum ( $ETH ) have continued to experience downward corrections following the US Federal Reserve’s (Fed)0 recent decision regarding interest rates.
The Fed’s dovish stance has negatively impacted risk assets, contributing to a generally bearish sentiment in the market that led the market’s leading crypto, to #MarketPullback