Can Sui Overtake Solana? Coin Bureau’s Guy Turner Discusses Long-Term Potential and Risks
Guy Turner, the host of Coin Bureau, recently shared his long-term price projections for Solana (SOL) competitor Sui (SUI) with his 2.48 million YouTube subscribers, highlighting its “serious potential” despite some current challenges.
Turner attributes his bullish outlook on Sui to several factors:
- Low Price Tag: Sui’s affordable price creates the illusion of significant gains, attracting retail investors.
- Lower Market Cap: Compared to larger-cap cryptos, Sui requires less capital to influence its price, making it more volatile and potentially more rewarding.
- Accessibility: Sui’s listing on all major exchanges enhances its reach and ease of trading.
Currently, Sui is trading at $1.11, a significant drop from its all-time high of $2.17 in late March, representing a 50% decrease. Turner notes that several metrics, including total value locked (TVL) and the number of on-chain transactions, suggest a bearish short-term outlook for Sui.
He elaborates:
“Many on-chain metrics indicate that demand for Sui is not trending in the right direction, which spells trouble for its price. However, this trend is not unique to Sui; it’s a common pattern across many cryptos. Altcoin interest isn’t very high at the moment, which means Sui’s price is likely to continue trending lower in the short term, even if supply-side pressures ease.”
In summary, while Turner acknowledges the current bearish trends and challenges facing Sui, he remains optimistic about its long-term potential due to its market positioning and appeal to retail investors.
