Buy crypto token SUI (pronounced “swee”) $BINANCE:SUIUSD
This is a long trade idea to buy the crypto token SUI (pronounced “swee”) and hold it for roughly a year for a potential 10x. The current situation suggests that SUI is in the similar circumstances that SOL was in a year ago. NOTE: SUI is a volatile asset. Do NOT use leverage. Greed kills!
Technical (Chart) Factors:
1) SUI versus USD is breaking out of its recent down trend (per the first SUI chart).
2) More importantly, it is breaking out of the Bull Market Support Bands (BMSB) versus Solana (SOL) and Bitcoin (BTC). I expect it will retest the BMSB levels before moving higher (per the first SUI chart).
Macro Factors:
1) Global liquidity is now increasing (per the SUI second chart).
2) The DXY Index is moving lower (inverted on the second SUI chart).
3) Alt season is about to begin.
Fundamental Factors:
1) SUI has a very experienced, professional, leadership team (from Meta) using an enhanced version of the most advanced smart contract programming language (Move).
2) SUI is a unique L1, allowing for dynamic (changeable) objects. This opens up new smart contract opportunities. It also makes it possible to program in things like ownership of gaming items, royalty payments to artists or IP holders and complex trading strategies.
3) SUI is very fast (faster than SOL in transactions per second and faster to final settlement) and is infinitely scalable due to its design (transaction parallelization).
4) SUI is an order of magnitude less expensive to use than Solana.
5) Like Solana did a year ago, SUI has further eliminated user friction. It is now even easier to create and use wallets.
6) SUI became a top ten DeFi blockchain in less than a year measured by Total Value Locked (TVL). Like Solana of a year ago, SUI has many development teams and more than twenty dApps (for example DeepBook, Bueskin and Cetus) in the DeFi space. The stablecoins, FDUSD and AUSD, have been integrated into the SUI network.
7) SUI makes it extremely easy to onboard new to blockchain users (via support for Google, Facebook, Twitch and other Web2 platforms) using existing sign in infrastructure. The process is built for seamless mass adoption using existing logins and many new users will not even know they are on a blockchain.
8) Late last year, SOL came out with a new hardware device (a phone) that created excitement around the SOL network with air drops. SUI has a new hardware device coming out (a gaming console) that will soon create excitement to onboard new users.
9) Daily Active Users (DAUs) has increased from around 30,000 last year to around 400,000 recently.
10) Unlike Solana’s issues with unscheduled downtime, other than for scheduled maintenance, SUI has had 100% uptime since the launch of operations in May 2023.
11) Franklin Templeton is working with SUI to build a TradFi - DeFi experience that meets KYC/AML requirements while enabling movement from one to the other within a consistent regulatory framework.
SUI has many of the characteristics that SOL had a year ago before SOL moved from roughly $20 in September to over $200 in March. There are many technical, macro and fundamental factors favouring a similar SUI advance. I am long SUI and recently increased my position.
Technical (Chart) Factors:
1) SUI versus USD is breaking out of its recent down trend (per the first SUI chart).
2) More importantly, it is breaking out of the Bull Market Support Bands (BMSB) versus Solana (SOL) and Bitcoin (BTC). I expect it will retest the BMSB levels before moving higher (per the first SUI chart).
Macro Factors:
1) Global liquidity is now increasing (per the SUI second chart).
2) The DXY Index is moving lower (inverted on the second SUI chart).
3) Alt season is about to begin.
Fundamental Factors:
1) SUI has a very experienced, professional, leadership team (from Meta) using an enhanced version of the most advanced smart contract programming language (Move).
2) SUI is a unique L1, allowing for dynamic (changeable) objects. This opens up new smart contract opportunities. It also makes it possible to program in things like ownership of gaming items, royalty payments to artists or IP holders and complex trading strategies.
3) SUI is very fast (faster than SOL in transactions per second and faster to final settlement) and is infinitely scalable due to its design (transaction parallelization).
4) SUI is an order of magnitude less expensive to use than Solana.
5) Like Solana did a year ago, SUI has further eliminated user friction. It is now even easier to create and use wallets.
6) SUI became a top ten DeFi blockchain in less than a year measured by Total Value Locked (TVL). Like Solana of a year ago, SUI has many development teams and more than twenty dApps (for example DeepBook, Bueskin and Cetus) in the DeFi space. The stablecoins, FDUSD and AUSD, have been integrated into the SUI network.
7) SUI makes it extremely easy to onboard new to blockchain users (via support for Google, Facebook, Twitch and other Web2 platforms) using existing sign in infrastructure. The process is built for seamless mass adoption using existing logins and many new users will not even know they are on a blockchain.
8) Late last year, SOL came out with a new hardware device (a phone) that created excitement around the SOL network with air drops. SUI has a new hardware device coming out (a gaming console) that will soon create excitement to onboard new users.
9) Daily Active Users (DAUs) has increased from around 30,000 last year to around 400,000 recently.
10) Unlike Solana’s issues with unscheduled downtime, other than for scheduled maintenance, SUI has had 100% uptime since the launch of operations in May 2023.
11) Franklin Templeton is working with SUI to build a TradFi - DeFi experience that meets KYC/AML requirements while enabling movement from one to the other within a consistent regulatory framework.
SUI has many of the characteristics that SOL had a year ago before SOL moved from roughly $20 in September to over $200 in March. There are many technical, macro and fundamental factors favouring a similar SUI advance. I am long SUI and recently increased my position.
Note
SUI On Track For 10x
SUI at $1.52, is up roughly 60% in the last 11 days, since my original recommendation. It continues to show very strong performance.
1) SUI held its Builder's house this week with many positive announcements. The post conference "Sell the News" correction failed to materialize. SUI continued upwards in the last two days after the end of the conference.
2) SUI blew thru an expected resistance level at $1.40 and again continued upwards, confirming it has lots of gas in the tank.
3) Industry analysts are releasing positive reports on SUI. This news should drive prices even higher.
Trade active
SUI Still On Track For 10x
Today's announcement that Phantom is adding SUI to it limited list of supported L1s (along with BTC, ETH & SOL) is the most recent news concerning SUI and has pushed SUI to new ATHs.
I'm expecting SUI's outstanding performance in 2024 will be exceeded by it's outperformance in 2025. However, Q1'25 has the potential to be soft for crypto. I recommend holding thru any volatility. Do not use leverage!
Others promise. SUI delivers. Here is a list of 17 additional milestones delivered by the SUI family in 2024.
blog.sui.io/2024-top-17-milestones/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.