- Sui has surged past Toncoin in year-to-date gains, achieving over 180% growth.
TON remains in a bear trend, while SUI maintains a strong bull trend.
As a seasoned researcher with years of experience navigating the dynamic and unpredictable world of cryptocurrencies, I can’t help but feel a sense of excitement watching the incredible performance of Sui [SUI]. It’s not every day that we see a coin surge past a well-established player like Toncoin [TON] in terms of YTD gains.
Until recently, Toncoin was the highest gainer year-to-date (YTD) among major cryptocurrencies. However, Sui [SUI] has emerged as a strong contender, achieving massive gains in the past few days that have propelled its price to an all-time high (ATH).
Toncoin’s early lead
Back in the early part of this year, I found myself closely watching Toncoin [TON]. At the commencement of 2021, TON was trading at around $2.3, but come March, it began to attract widespread attention within the crypto sphere, leading to some impressive price surges. By June, Toncoin had skyrocketed to over $8, representing a substantial rise from its initial value.
As per CryptoRank’s analysis, Toncoin has shown remarkable growth this year, with its value skyrocketing more than 126%. This is quite significant, particularly when contrasted with Bitcoin, the leading cryptocurrency, which has only increased by 51% YTD.
At the time, Sui was not even considered among the top contenders for YTD performance.
At this moment, Toncoin is being exchanged for around $5.2, showing an increase of more than 1% today. However, Toncoin’s overall trend remains bearish based on its Relative Strength Index (RSI), which has dropped below the neutral level. This implies that the price momentum has slowed down in recent trading sessions.
Sui surges past Toncoin
In recent times, Sui has surpassed Toncoin as the top performer this year, with its Year-to-Date (YTD) growth climbing above 180%. A closer look at Sui’s price chart indicates that it has significantly outperformed other cryptocurrencies in terms of YTD gains.
Data from CryptoRank shows that as of this writing, Sui’s gains stand at an impressive 187.7%, making it the top performer among the top 20 cryptocurrencies.
At present, SUI is hovering around $2.2, indicating a 3% drop from its all-time high (ATH) of $2.3 achieved during the last trading session. It’s worth noting that at the start of this year, SUI was priced at roughly $0.6, demonstrating its impressive growth over just a few months.
Although there’s been a recent dip, Sui still finds itself in an overbought state, as its Relative Strength Index (RSI) hovers near 70. The latest drop has caused a slight decrease in its RSI value.
Nonetheless, it remains deep within the zone of being overbought, which could imply potential space for price adjustments ahead.
Toncoin still leads in market capitalization
Although Sui has recently seen an uptick and better Year-to-Date (YTD) returns, Toncoin still holds a substantially larger market capitalization. As per CoinMarketCap, Toncoin’s market capitalization is approximately $13.4 billion, positioning it as the tenth largest cryptocurrency in terms of market cap.
Read Sui’s [SUI] Price Prediction 2024–2025
Contrarily, although Sui has shown strong performance lately, it currently ranks 17th in terms of market cap, with a total value of approximately $6.2 billion compared to other leading cryptocurrencies.
While Sui has exceeded Toncoin in Year-to-Date (YTD) growth, it continues to trail behind in the broader market share.
Read More
- DYM PREDICTION. DYM cryptocurrency
- ZK PREDICTION. ZK cryptocurrency
- CYBER PREDICTION. CYBER cryptocurrency
- JASMY PREDICTION. JASMY cryptocurrency
- POPCAT PREDICTION. POPCAT cryptocurrency
- SKEY PREDICTION. SKEY cryptocurrency
- TURBO PREDICTION. TURBO cryptocurrency
- Top gainers and losers
- BNB PREDICTION. BNB cryptocurrency
- XRP PREDICTION. XRP cryptocurrency
2024-10-14 21:11