Date: Wed, Sept 25, 2024, 05:32 AM GMT
Sui Network (SUI), a rising Layer-1 blockchain, has recently captured the spotlight in the crypto world with a stunning 79% surge over the past 30 days. This impressive rally has even overshadowed Solana (SOL), one of the top Layer-1 blockchains, which saw a dip of more than 5% during the same period.
Comparing SUI’s Price Movement to Solana’s 2021 Bull Run
Crypto trader ToreroRomero took to X (formerly Twitter) to highlight the similarities between SUI’s current price movement and Solana’s legendary 2021 bull run. His technical analysis shows that SUI is mimicking Solana’s explosive growth pattern in late 2020, when SOL skyrocketed from around $1 to over $10. Based on this comparison, he believes that SUI could potentially soar above $4 in the coming months, following Solana’s bullish trajectory.
Investors Betting on SUI’s Future Potential
Supporting this view, crypto investor @vajolleratzii shared a chart comparing SUI and SEI to Solana’s 2021 rally. He mentioned, “I bought $SOL at $0.60 at the bottom of the last cycle, and I’ve been buying $SUI and $SEI down here expecting more of the same.”
SUI’s Key Advantages Over Solana
Adding to the excitement, another trader, @baller0x, noted that SUI has some key advantages over Solana, stating, “$SUI is 12 seconds faster and can process 250k more transactions per second.”
With such strong momentum and comparisons to Solana’s historic run, many are wondering if SUI could be gearing up for a similar breakout. However, as always in the crypto world, it’s crucial to remain cautious and do your own research before jumping into any investment.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.