SUI: "Solana's killer" is losing its breath

SUI: "Solana's killer" is losing its breath?!

🚀💥 The SUI storm is sweeping the crypto market! Is the so-called "Solana killer" losing his breath? Find out the truth before it's too late!

Dubbed by some as the "Solana killer" or the next big catalyst, the Sui Network ( $SUI ) is making waves. However, the rise in the SUI price appears to be following the dominant negative trend in social volume. At the moment, sentiment around SUI is mostly unfavorable - 48.92%, only 38.13% feel positive.

Criticisms include a high fully diluted valuation (FDV) for the token and concerns about the imminent unlocking of rights transfer contracts. On the other hand, the language of Move and the efficiency of Sui transactions with fast finality and reduced fees are highly appreciated.

🔸SUI price analysis

Despite the mostly negative sentiment, technical indicators remain somewhat positive, indicating possible short-term growth. SUI is currently trading at $0.825. USA, which is 6.16% more since the beginning of the year, having fully recovered from the maximum of $2.09.

🔸 Is SUI still the "Solana Killer"?

In this context, Web3 researcher and developer Sandra Leow shared X's thoughts on SUI on August 15th. She wonders if Sui is still "Solana's killer". According to Sandra, Sui saw an uptick in positivity in early August, reaching its highest level of positivity since launch. The Sui Sentiment Index rose from 0.34 to 2.34 on August 7.

SUI market share jumped the most, from 0.08% on August 6 to 0.66% on August 9, a day when the token price also jumped from $0.53 to $0.83. Interestingly, that same day, Raul Pal called Sui "the next great catalyst after Solana."