Raoul Pal, macroeconomics guru and CEO of Real Vision, highlights a Layer 1 blockchain that he believes will become a major force to be reckoned with.
Pal tells his million followers on social media platform X that Solana’s (SOL) competitor Sui (SUI) “is acting like he’s going to be one of the top guys on the new big networks, if not THE One.”
According to Real Vision’s CEO, people should “pay attention to Sui” amid bullish signals, technology upgrades, and increasing adoption. Pal says one of the bullish signals Sui is giving off includes the release of an inverse head and shoulders pattern.
“But more importantly, it broke the downtrend against SOL (and all top 20 tokens). Its relative strength in a sideways market is worth considering.”
Regarding the fundamentals underlying his bullish thesis on Sui, the macroeconomics guru states:
“Speaking of the tech stack, the Mysticeti upgrade brought sub-second finality (the fastest of any chain) and the upcoming Pilotfish will supposedly bring transactions per second (TPS) that scale even beyond Solana Firedancer.
But what are Sui/Mysten labs trying to accomplish?
Basically, they are trying to rebuild the internet, brick by brick, for Web 3. It is designed to scale to Facebook/Meta-sized use cases (over 3 billion)…
…zero-knowledge (ZK) connections to the upcoming Walrus decentralized storage protocol.”
Pal says gaming is a potential niche that Sui could succeed in, and the announcement that Circle will issue the USDC stablecoin on the platform is “another good step.”
Real Vision CEO, however, says:
“But the simplified user interface is still in its infancy and the proof will have to be provided by successful applications that adapt to the technology stack.”
Sui is trading at $1.18 at the time of writing, up about 53% in two weeks.
Don’t miss a thing – Subscribe to receive email alerts directly to your inbox
Check price
Follow us on XFacebook and Telegram
Surf the Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: Midjourney
