- SUI’s trading volume soared to $28B, tripling APT’s figures
- SUI’s and APT’s bearish trends were super bullish at press time
As a seasoned researcher who has closely observed the crypto market for years, I find myself intrigued by the recent surge of Sui Network (SUI) and Aptos (APT). The rapid growth of SUI’s trading volume to $28 billion, tripling that of APT, is a testament to its burgeoning popularity.
In contrast to Aptos (APT), the increase in cryptocurrency market activity has led to a substantial spike in decentralized exchange (DEX) trading volumes on the Sui Network (SUI).
SUI’s trading volume soared to $28 billion, tripling APT’s volume which stood at $9.4 Billion. The steep upward trajectory of SUI’s line suggested rapid growth and heightened activity on its DEXs. This difference in volume is a sign of strong market preference and liquidity on Sui Network, possibly reflecting superior technological adoption or investor confidence over Aptos.
Should the current trajectory persist, SUI may solidify its status as a front-runner, captivating additional investors drawn to its elevated liquidity and bustling trading scene.
Comparing performance and price action
In just the past day, SUI experienced a modest 8% increase that pushed its value up to $3.18, whereas Aptos saw a small 1% rise, taking it to $12.24 as we speak.
In the latest cryptocurrency market rally that started toward the end of last week, fueled primarily by Bitcoin‘s impressive growth, both Sui and Aptos experienced an increase in price. However, it’s important to note that the trading volume for Sui decreased by 22%, while Aptos saw a significant drop of almost 60%.
As a crypto investor, I’ve been closely watching the performance of SUI, and it’s clear that its price trajectory has shown an uptrend lately. Breaking free from a bearish channel in late August, SUI has surged significantly since then. This breakout, combined with continuous gains, suggests robust buying interest and a bullish outlook among investors.
Just now, the price surpassed its extended moving average (200 EMA), indicating a possible continuation of the uptrend. It’s plausible that SUI will aim for higher resistance zones, with the possibility of hitting the $4 mark on the graphs.
Instead of a downturn, APT’s graph showed a significant increase in price following a lengthy decline inside a bearish trend. This recent jump, breaking through earlier resistance points, suggests a powerful turnaround and increased trust among investors.
In a move designed to encourage institutional investment, Aptos, which boasts more than 8 million monthly users, debuted the first staking ETP on the SIX Swiss Exchange. This could lead to a surge in prices, possibly pushing APT towards levels around $15.
Can SUI flip APT’s price?
To summarize, they’ve both shown robust signs of recovery, suggesting a positive outlook that may impact their upcoming prices. If the current upward trend persists, it’s likely they’ll maintain their growth trajectory, potentially influencing the wider cryptocurrency market focused on altcoins as well.
Yet, exceeding APT’s price could prove difficult when considering the combined token supply. On the other hand, metrics such as market capitalization and Total Value Locked (TVL), which have reached a new all-time high of $1.4B, and trading volume, might be more feasible to surpass or outperform.
Moving forward, Suisei (SUI) might have the opportunity to surpass Aptos in price growth. This could particularly occur if SUI manages to achieve similar success to Solana in the meme coin market.
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2024-11-14 12:07