Raoul Pal, macroeconomics guru and CEO of Real Vision, highlights a smart contract-based blockchain token that he says has potential.
Pal tells his million followers on social media platform X that the native token of the layer-1 blockchain Sui (SUI) is “starting to look very interesting from a price perspective.”
“…I’m looking at ALL major tokens for the next Solana-like opportunity, no matter what, and this (Sui) looks like one of them to me.”
According to the macroeconomics guru, SUI “shows signs of breaking out of most chips” and is “one of the potentially fastest horses in the race.”
Pal claims that Sui is poised to break out when paired with the layer-1 blockchain’s native token Avalanche (AVAX).
Against Celestia (TIA), a decentralized network focused on minimizing the costs and technical hurdles of deploying a blockchain, Pal says SUI is also coming out of a downtrend.
When compared to Bitcoin (BTC), the macro guru claims that SUI has already broken out of a downtrend.
Regarding the potential downside risks facing SUI, the macroeconomics guru says:
“Yes, there are tokens to unlock, but the worst is over and the game is really about demand, not supply. Supply is known, demand is the deciding factor.
Yes, it is a high fully diluted valuation (FDV) cryptocurrency and some people don’t like it. I like to find places where the current narrative is overshadowed by price action.
A high FDV crypto asset has a high valuation but a low initial circulating supply, suggesting the potential for significant dilution in the future.
Pal is a board member of the Sui Foundation, an entity tasked with supporting and empowering builders of the Sui blockchain ecosystem.
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