The sustained influx of capital through the Bitcoin and Ethereum ETFs started shortly after the sudden announcement of reduced rate cuts by the U.S. Federal Reserve. This streak of inflows could trigger further parabolic movements for the world’s largest cryptocurrency, setting up a bullish phase in subsequent months.
Sui Coin, a popular Layer-1 solution, took advantage of the bullish market swing and became one of last week’s biggest winners. However, SUI’s market correction over the previous 24 hours raised eyebrows. Analysts suspect further declines in the next 48 hours. Amid the growing concerns surrounding $SUI, Bitgert, another L1 platform, witnessed steady growth in adoption and market value.
Let’s uncover why SUI’s price trajectory is holding steady while Bitgert continues to grow as a preferred option in the market.
What’s Next for $SUI?
Sui, a relatively new Layer-1 protocol, is known for its multiple transaction processing, enhanced scalability, and top-level security. SUI’s architecture employs the Mysticeti protocol, allowing transactions to be processed instantly (i.e., about 390 milliseconds). Another market advantage adopters of the SUI network enjoy is an enhanced collaborative environment. Sui’s offering of user-centric advantages accelerated its success in the market.
Recent developments surrounding the Sui network coincided with the bullish swing of the market, triggering a two-week-long surge. Some of these developments include Circle launching $USDC on the Sui network, the Hydropower Accelerator program aimed at accelerating the growth of top-performing projects, the successful launch of pre-orders for Sui gaming handheld, and a recent strategic partnership with 3DOS 3D, a printing network.
Amid these considerable developments, SUI’s price chart shows $SUI suffered an intra-day decline of 2.9% and a day-long slump of 4.9%. At the time of writing, $SUI slipped past the $1.64 support level, exchanging hands at $1.63. Analysts predict $SUI could see more declines, and should it fall past $1.46, a pull-back would be difficult.
Bitgert Remains A Preferred Option in the Market
Bitgert is becoming a preferred choice for many reasons. Firstly, Bitgert offers developers a seamless and cost-efficient building environment, making it one of the fastest-growing L1 blockchains in 2024.
Another reason for Bitgert’s explosive growth is its range of innovative solutions. These native solutions include Brise Chain, an ultra-fast blockchain with peak transactional speeds of up to 100,000 TPS, and PayBrise, a global payment solution eases access to crypto. Others include, Bitgert.Exchange, Real Estate Marketplace, Bitgert Swap, and more.
Lastly, multiple ongoing campaigns within the Bitgert ecosystem generated significant traffic on its network. Campaigns such as the Bitgert Hackathon and the revamped Bitgert Startup Studio improved Bitgert’s market visibility in the overall crypto community.
Data from Coinmarketcap shows the total market capitalization was up by 2.17% on Friday, aggregating a total of $2.33T in the global market. A bullish phase is before us; consider accumulating Bitgert before it sees a breakout.
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