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Cryptocurrency News Articles
The Cryptocurrency Markets Have Been Witnessing a Sharp Rise in SUI Action
Sep 27, 2024 at 10:31 pm
The cryptocurrency markets have been witnessing a sharp rise in SUI action, up an astonishing almost 300% in the last month.
Cryptocurrency markets have seen a sharp rise in SUI price action, up an astonishing almost 300% in the last month. The jump in price has brought not only traders into the fray but also all social media action regarding it through the roof to an all-time high. With the rising enthusiasm, analyst Ali said that growth may continue upward, but it could be due to a short-term correction.
Capital Flows Favoring SUI Amidst Market Dynamics
Recently, Jamie Coutts, Chief Crypto Analyst at Real Vision, highlighted this event, referring to SUI flows as outstanding. In his analysis, he depicted SUI’s net flows for the year at an incredible $737.6 million, the second most among alternative Layer 1s, only preceded by Solana at $1.1 billion.
SUI’s inflows account for 18% of its market cap, a great contrast to Solana’s 2%, underlining the significant difference that makes SUI increasingly popular. Interestingly, the dynamics change in the way entities allocate capital to the cryptocurrency market.
#Crypto capital flows are favouring #SuiSui's net flows this year hit $737.6M, 2nd highest among Alt-L1s after Solana's $1.1B. On a relative basis Sui’s inflows are 18% of its market cap, while Solana's are 2%—a 9x difference!
Ethereum leads outflows across the crypto … pic.twitter.com/XRNAZ537k3
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