The cryptocurrency market has experienced notable movements in the last 24 hours, with Bitcoin maintaining its position above the significant $41,300 level. Meanwhile, SUI Coin has achieved a milestone by surpassing a key Total Value Locked (TVL) threshold. The market anticipates an exciting week ahead, with a focus on the performance of the Grayscale Bitcoin Trust (GBTC).
Crypto Market Updates
Devin Pinzer, the chief of OpenSea, hinted at potential acquisitions or a sale of the company under favorable conditions. After a successful bull season, OpenSea, a dominant player in the NFT marketplace, has downsized its staff and witnessed a decline in revenue. SUI, a blockchain project by former Facebook Libra members, has climbed into the top 10 in terms of TVL, with the developers aiming to make blockchain as user-friendly as email. Bitmex Research reports a positive inflow of $14.8 million into the Bitcoin ETF, with BlackRock’s assets surpassing $2 billion despite GBTC sales.
SUI Coin Price Forecast
SUI Coin’s price has struggled to maintain a close above the $1.45 support level on the daily chart, indicating a potential short-term trend reversal. A daily close below $1.36 could trigger a decline towards lower support levels. However, the market sentiment remains cautiously optimistic, with expectations for the price to hold at higher support levels. After a rapid rise and fall post-launch, SUI Coin aims to reclaim the $1.5 threshold and possibly target the $2 mark again, with the potential to reach new highs in the coming weeks.
The article was originally published on COINTURK NEWS, providing an in-depth analysis of recent developments in the crypto market and future price predictions for SUI Coin.