SUI Price Reaches All-Time Low
The post SUI Price Reaches All-Time Low appeared on BitcoinEthereumNews.com. The SUI price has fallen since May and reached a new all-time low on October 18. The all-time low occurred despite the Total Value Locked (TVL) in the platform reaching a new all-time high. Is SUI in jeopardy of falling out of the top 100 cryptos? SUI Falls to New All-Time Low The SUI price has fallen significantly since its all-time high of $1.50 on May 4. In a span of 167 days, the price has decreased by 76%. The decrease culminated with a new all-time low of $0.36 today. Since June 10, the decrease has become more gradual. Also, it has been contained inside a descending wedge, considered a bullish pattern. The fact that the price reached a new all-time low is especially interesting when considering that the Total Value Locked (TVL) is actually at a new all-time high of $59 million. TVL has increased significantly since August, bottoming at $13 million. So, despite an increased interest in the platform, the altcoin’s price has not reacted positively at all. SUI/USDT Daily Chart. Source: TradingView Yesterday, the Sui Foundation addressed a previous report that stated the foundation had sold a considerable amount of its SUI tokens and was actively manipulating the supply. The foundation called these reports false, urging the public to check for themselves by looking up the data on the blockchain. The SUI foundation also noted that more than $1 million had been given in grants to fifteen projects that work on products and services in gaming, Decentralized Finance (DeFi), commerce, and tooling. However, this has not completely squashed the worries of the public. Questions about the transparency of the SUI foundation and the lack of clarity as to what the accusations are immediately popped up after the post. SUI Price Prediction: When Will a Bottom be Reached?…
The post SUI Price Reaches All-Time Low appeared on BitcoinEthereumNews.com.
The SUI price has fallen since May and reached a new all-time low on October 18. The all-time low occurred despite the Total Value Locked (TVL) in the platform reaching a new all-time high. Is SUI in jeopardy of falling out of the top 100 cryptos? SUI Falls to New All-Time Low The SUI price has fallen significantly since its all-time high of $1.50 on May 4. In a span of 167 days, the price has decreased by 76%. The decrease culminated with a new all-time low of $0.36 today. Since June 10, the decrease has become more gradual. Also, it has been contained inside a descending wedge, considered a bullish pattern. The fact that the price reached a new all-time low is especially interesting when considering that the Total Value Locked (TVL) is actually at a new all-time high of $59 million. TVL has increased significantly since August, bottoming at $13 million. So, despite an increased interest in the platform, the altcoin’s price has not reacted positively at all. SUI/USDT Daily Chart. Source: TradingView Yesterday, the Sui Foundation addressed a previous report that stated the foundation had sold a considerable amount of its SUI tokens and was actively manipulating the supply. The foundation called these reports false, urging the public to check for themselves by looking up the data on the blockchain. The SUI foundation also noted that more than $1 million had been given in grants to fifteen projects that work on products and services in gaming, Decentralized Finance (DeFi), commerce, and tooling. However, this has not completely squashed the worries of the public. Questions about the transparency of the SUI foundation and the lack of clarity as to what the accusations are immediately popped up after the post. SUI Price Prediction: When Will a Bottom be Reached?…
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