SUI Price and Market Overview (October 2024)

2 min read October 15, 2024
Lenka Fetyko

SUI Price and Market Overview (October 2024)

SUI Price

Current Price: $2.2344 (-0.39% in the last 24 hours, +10.76% over the last 7 days).
Market Cap: $6.16 billion
Volume: $465.61 million
Circulating Supply: 2.76 billion SUI

All-Time High (ATH): $2.3674 (October 13, 2024), down -5.62% from ATH.

SUI Price on Daily Interval

SUI Trends:

Short-Term Trend: Strong Up
Medium-Term Trend: Strong Up
Long-Term Trend: Strong Up

Key Indicators:

MACD: Bullish (near-term momentum).
RSI: Neutral, not overbought or oversold.
Stochastic: Overbought, showing potential caution for further upside.
Bollinger Bands: Price is within the band, indicating stable price movement.

Moving Averages:

SMA and EMA show upward trends across most time frames, indicating continued price strength.

SMA 50: +74.33%
EMA 26: +82.54%
EMA 200: +0.33%

Performance:

1 Month: +113.86%
3 Months: +176.73%
1 Year: +437.50%
Year-to-Date (YTD): +188.19%

Key Developments:

  1. SUI is gaining rapid adoption in the Layer 1 blockchain space.
  2. Experts predict strong upward momentum for SUI and related assets.
  3. Notable partnerships and integrations, such as the launch of native USDC on the SUI Network.

Conclusion:

SUI continues its impressive growth, driven by strong technical momentum and increasing market interest. Investors should watch for potential pullbacks due to overbought conditions but remain optimistic about long-term growth as SUI solidifies its position in the blockchain landscape.

Sui Network Overview

Sui is a high-performance Layer-1 blockchain developed by Mysten Labs, known for its scalability, low fees, and fast transaction processing. It uses a unique consensus mechanism, Narwhal and Tusk, which separates transaction ordering from execution, allowing for parallel processing and increased throughput.

Key features include:

  • Parallel Execution: Processes transactions simultaneously for high-speed performance.
  • Low Fees: Keeps costs low for users and developers.
  • Move Programming Language: Optimized for secure, flexible dApp development.
  • Object-Centric Model: Efficient data management for smart contracts and assets.

SUI Token Overview

The SUI token is the native currency of the Sui network, with multiple roles:

  • Gas Fees: Used for transaction fees.
  • Staking & Security: Stakers help secure the network and earn rewards.
  • Governance: Holders can vote on key network decisions.
  • Incentives: Rewards for developers, users, and validators.

With a capped supply of 10 billion tokens, SUI powers a wide range of applications, from DeFi and NFTs to enterprise solutions

More info:

0 Comments
Leave a comment

Your email address will not be published. Required fields are marked *