Sui (SUI)

Sui (SUI)
Sui emerged as the top weekly gainer rising over 24% a week. Looking at the daily chart it was observed that the crypto started this week on a negative note and slumped in the first half. However, in the second half, the crypto made a strong rebound snapping off the losses.

From a technical standpoint, the price has surpassed the key EMAs of 20 and 50 days suggesting a positive outlook in the short term. At the time of writing, SUI was trading close to $0.846 with a swift intraday loss of 0.64%.

Sui is a layer 1 blockchain platform offering low latency transactions with stable transaction fees. It aims to empower the developers with powerful capabilities and tools to develop the next generation of Web3 applications.

It has a live market capitalization of $2.21 Billion and ranks 34th in the crypto space. Out of a 10 Billion tokens in the total supply, nearly 25.9% i.e. 2.59 Million SUI tokens are in circulation.