A generally followed crypto analyst says that Layer-1 Blockchain Sui (SUI) is preparing for a huge outbreak to fresh all-time highlights.
In a new thread, pseudonymous crypto trader Kaleo tells His 703,900 followers on the social media platform X that Sui suddenly offers a large buying option.
He says that the recent hack of $ 223 million from the CETUS protocol, a decentralized Exchange (Dex) that was active on the SII network, the value of Sui fell, but eventually gave Bulls the chance to position itself for the next leg.
“Think of the last cycle how often Sol was declared dead because it went down? Every time the FUD (fear, uncertainty and doubt) was purchased, and it came back stronger. I think the recent Cetus exploit gave a great opportunity for a dip to stack more super.
Cetus is officially back with a recovery plan for affected Polish. There is also a plan for token compensation for affected users. If there is something, the CETUS issue makes me bullisher to show how Sui -Governance was fast to act together to prevent the exploit of the protocol to be worse and to allow the hacker to get away with the funds.
Feel free to cope with the sidelines, but I have been just as bullish as I have been with Sui to get them the chance to fill the gap in the Monolithic L1 (Layer-1) race. Run it back turbo. “
Based on his graph, the trader seems to sui that SUI print a new of all time at around $ 7.50, more than double his current value, perhaps somewhere in September this year.
The analyst too out That sui may be ready to break out a bullish -decreasing wig pattern against Bitcoin (BTC).
“SUI/BTC ratio also looks solid with a clean breakout. I see this outbreak and the launching night filling quickly.”
At the time of writing, Sui acts for $ 3.45.
Follow us on X” Facebook And Telegram
Don’t miss a beat – Subscribe to get e -mail notifications directly to your inbox
Check price promotion
Surf the Daily Hodl -Mix
Generated image: midjourney