The rise of Sui, the market rebellious child
In my community, I have always called it a rebellious child. Why is it called $Sui the rebellious child? Because it always sends good news to pull the market when the market is falling, and acts as a rebellious child to gain attention from the market. Sui is also the hardest worker in the new public chain. Its TVL has exceeded OP, and it ranks in the top 10, not far from Polygon.
Review of recent good news
1. Binance launched Sui's coin-based contract
2. Suiplay0x1 game console pre-sale
3. Grayscale officially launched Sui Trust Fund
4. TVL entered the top 10 and is not far from the top
5. AUSD stablecoin launched Sui
Compared with ARB on the second layer, Sui's original price was only half of ARB, and now ARB is only $0.5, which is only half of Sui's price, and the circulation and total volume of the two are similar. There are several reasons
1. Blame VC: The cost of investment institutions is too low. For them, even if it falls to $0.1, they can still make money
2. Blame the swindlers and rat traders: There is no low cost for rat traders and swindlers without airdrops
3. Blame V-dogs: ETH is not good, and the second layer is not much better
4. Blame the trend-following VC: The technical barriers of the second layer are not large. VC quickly set up dozens of public chains with similar differences. L2 has serious inflation and value dilution
Sui's chip structure is relatively healthy. There is no selling pressure from swindlers and rat traders. The cost of IDO is mostly $0.1. In addition, there is really no strong one in the new public chain. It is a unique narrative, unlike L2, which can be copied by other projects. There is a shadow of the next Sol.
However, Sui still has large institutional unlocking at the beginning of each month, which is an unfavorable factor. The current pressure is $1.2, which is the high point of the rebound in June. With the rebound of BTC and the development of Sui ecology, it will be faster and stronger than most cottage industries. It is worth looking forward to. I put the stop loss at $0.95 to avoid a sharp retracement after the interest rate cut.
