The possibility of $100 SUI

Investors think the Sui blockchain could easily compete and surpass Solana, therefore its native coin rose ahead of Christmas Eve despite the crypto market's downturn.

After reaching new all-time highs of $4.9577 a few days earlier, the SUI token rose 9% to $4.71 on December 23.

Just five days before the month closes, SUI has gained 29.9% while the crypto market has only gained 2%.

Sui Bridge, a cross-chain crypto transfer protocol, launched on December 23 and may have affected the token's performance. The Sui blockchain now lets users transfer $ETH and $USDT quickly and simply to their favorite dApps in its ecosystem, according to the development team.


On paper, the Sui blockchain can handle 300,000 transactions per second, whereas Solana can process 65,000. However, its environment is modest but expanding.

Sui may replace Solana since developers prefer it to construct dApps and mint new digital assets if scaling issues arise.

$SUI is Rising but Must Overcome Resistance

The $SUI chart suggests an uptrend that might push the asset over $5.

Trend line support and the $4 psychological barrier that investors have strongly held in recent days are the most important support places to monitor.

If the chart's upper barrier is next, a break above $5 may provide 24% short-term profits.

A divergence suggests that bullish momentum may be diminishing despite a rising asset price. After the Federal Reserve's hawkish statements, the market has become negative, therefore traders should be cautious if SUI falls below $4.

Long-term, $100 per token would raise this project's market valuation to $260 billion. Solana ($SOL) has reached $97 billion since its 2020 debut. Thus, a $100 SUI seems unlikely.

There's no reason the token can't treble its price if its ecosystem keeps growing as fast as it has in the last year.

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