Sui Network Rockets Toward New All-Time High – Should You Buy Now or Is It Too Late?
A journalist and copywriter with a decade's experience across music, video games, finance and tech.
The $SUI token underpinning the SUI network is closing in on a new all-time high (ATH) today.
In the last 24 hours, $SUI added 5% to trade at $1.55. In general, crypto markets advanced 0.2% and now have a combined market cap of $2.33 trillion, of which $SUI corners about $4.1 billion.
Sui Network’s $SUI blew up an eye watering 39% over the last seven days, which makes it the week’s fastest growing cryptocurrency among the fifty largest layer 1 projects.
Sui Network is currently the 28th biggest cryptocurrency on the market. Among the top thirty, only AI coin Bittensor ($TAO) posted greater appreciation. $TAO rose 81.5% overnight and now trades at $542.
In general, leading AI coins had a really good week, with most projects rising by double-digit percentages.
Meanwhile, the $1.25 trillion cap market leader, Bitcoin ($BTC), couldn’t keep pace.
The world’s largest cryptocurrency rose 1.4% overnight and 8.4% over the week and currently trades at $63,553.
Ethereum ($ETH), the token underpinning the most commercially important blockchain, rose 15.4% over the week to land on $2,651.
Like Solana and Ethereum, Sui Network deploys high-functionality smart contracts, enabling developers to build a world of decentralized applications (dApps) offering services from financial services to gaming.
Sui’s USP is that it processes transactions a lot faster than Ethereum. While Ethereum has a maximum theoretical throughput of 119 transactions per second (tps), Sui’s developers say it is capable of achieving a staggering 297,000, thanks to its ability to process multiple transactions simultaneously.
Despite its promise, Sui Network’s support level
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