Popular cryptocurrency analyst Jonathan Carter has noted that SUI is witnessing an amazing rise in the crypto market. The digital asset surged about 50% in seven days. Carter sees the coin potentially rallying by 190% if positive elements align.
SUI's network showcases impressive technical prowess, handling transactions six times faster than Solana. This positions SUI as a competitor to watch. The token increased by 15% over the past 30 days, a rare feat in a volatile market.
SUI's current price stands at $0.8899 with a 24-hour trading volume of $1.38 billion. Despite a minor 5% drop in the last day, the general outlook remains positive. SUI's market capitalization is $2.3 billion, with a 0.10% market dominance.
Carter recommends SUI as a buy, highlighting its breakout from a descending triangle pattern. He believes SUI could reach $2.60 if the current upward trend continues.
Technologically, SUI’s Layer 1 architecture processes 297,000 transactions per second with a 390-millisecond finality, outpacing competitors like Solana. Tests showed SUI’s transaction speed to be six times faster. It ranks third among non-EVM chains by TVL and is within the top 13 by DeFi volume.
SUI continues to develop as a major player in the crypto market, combining cutting-edge technology and robust price performance. Carter's forecast of a price increase to $2.60 adds to the anticipation.
