Former Goldman Sachs Executive Raoul Pal Prefers Solana Competitor SUI
Renowned former Goldman Sachs executive Raoul Pal recently shared his preference for one of Solana’s competitors, SUI, labeling it as his “favored child.” With a significant following of 1.1 million on the social media platform X, Pal expressed his admiration for SUI over Solana, highlighting its potential for growth.
SUI Price Comparison
Pal presented a chart comparing the SUI/USD price to the SOL/USD price, indicating that SUI/USD appears poised to break out of resistance levels. This suggests a potential upward trajectory for SUI in the near future.
Current Market Performance
At the time of writing, SUI is trading at $2.97, showcasing a remarkable increase of over 21% in the past day and close to 41% in the past week. On the other hand, SOL is trading at $149.47, with a growth of more than 3.5% in the past 24 hours and over 13% in the past week, ranking it sixth in terms of market capitalization.
Analyst Bullishness on SUI
Pal’s positive sentiment towards SUI is echoed by other analysts in the crypto space. Crypto trader Michaël van de Poppe recently highlighted Sui’s adoption in decentralized finance (DeFi) networks, particularly for Bitcoin staking and lending, known as Bitcoin DeFi (BTCfi). Van de Poppe emphasized SUI’s strength and potential for growth in the upcoming market cycle.
- BTCFi is experiencing rapid growth with 10% of Total Value Locked (TVL) passing through SUI.
- SUI ranks in the top six for DeFi activities across all chains.
- DeFi trading volume on SUI has reached nearly $6 billion in the past month.
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