SUI Token Overview

[Suba]

SUI token is listed on Trending crypto on Coinmarketcap and is one of the most talked about cryptos in the crypto community, which is why I made SUI a thread on RIF.

Basically SUI is a Layer-1 blockchain supporting smart contract platform and has a native token named SUI, implementing PoS consensus mechanism, which was launched in early May 2023. Currently SUI token price is $1.11320, Max supply is 10 billion SUI, Market cap is $588 million, volume $458 million.

Currently the SUI token has been listed on various well-known crypto exchanges such as Binance, Kucoin, Bybit and Tokocrypto, and traders also pair SUI with other cryptos such as SUI/BNB, SUI/USDT etc. Based on its popularity, it will be promising if SUI is used as a short term investment. What do you think?

 

[Stardom22]

I would go for SUI if I was capable for investing in now. However this one seems to be pretty much promising compared to the others for sure. I wish it sustain the price.

 

[Suba]

I would go for SUI if I was capable for investing in now. However this one seems to be pretty much promising compared to the others for sure. I wish it sustain the price.

The popularity of rapidly exploding coins usually wears off quickly, so you need to be careful when investing in SUI, preferably for the short term or as a crypto trading pair.

 

[Yohanna]

The popularity of rapidly exploding coins usually wears off quickly, so you need to be careful when investing in SUI, preferably for the short term or as a crypto trading pair.

It is true! there are many cryptocurrency project springing up on a daily basis in the crypto space.

 

[Suba]

It is true! there are many cryptocurrency project springing up on a daily basis in the crypto space.

You are right, so we have to be careful not to be easily tempted by crypto that is currently popular and looks promising, but we don't know the background of the crypto so we are likely to be caught in a loss.

 

[riberet19]

I had heard a lot about this token but had not researched it yet, thanks for this summary, it seems to be a promising project, but I am currently focused on other cryptos, but it would be wise to add it to a watchlist.

 

[Suba]

I had heard a lot about this token but had not researched it yet, thanks for this summary, it seems to be a promising project, but I am currently focused on other cryptos, but it would be wise to add it to a watchlist.

I also don't have any plans to invest in SUI tokens, just because it's become a popular trend discussed in various crypto communities, so it's better for us to use it as a trade.

 

[Yohanna]

You are right, so we have to be careful not to be easily tempted by crypto that is currently popular and looks promising, but we don't know the background of the crypto so we are likely to be caught in a loss.

I participated in a SUI airdrops but it was a Scam.

 

[Suba]

I participated in a SUI airdrops but it was a Scam.

From the official Sui.io site, I did not find any airdrop for SUI tokens, maybe those who do SUI airdrop are those who want to profit from SUI's popularity, or they are just scammers who will send dust attacks to your wallet.

 

[riberet19]

I also don't have any plans to invest in SUI tokens, just because it's become a popular trend discussed in various crypto communities, so it's better for us to use it as a trade.

Exactly, you are right, I personally when something gives a lot to talk about gives me a bad thorn and usually ends badly, as you say better only to use the exchange and nothing else for now at least until the waters calm down.

 

[Yohanna]

From the official Sui.io site, I did not find any airdrop for SUI tokens, maybe those who do SUI airdrop are those who want to profit from SUI's popularity, or they are just scammers who will send dust attacks to your wallet.

It was a big scam and I never claimed any SUI token in the process.

 

[Golden9]

The popularity of rapidly exploding coins usually wears off quickly, so you need to be careful when investing in SUI, preferably for the short term or as a crypto trading pair.

Most newly listed coins have an initial pump where they go above the listing price highs first before they eventually tank. Hopefully, Sui would follow the same pattern.

 

[Suba]

Most newly listed coins have an initial pump where they go above the listing price highs first before they eventually tank. Hopefully, Sui would follow the same pattern.

That is why I recommend only for short term investment or as trading pairs, so traders can take profit from high price fluctuations. It is not very good if the SUI token is used as a long term investment.

 

[uptrendfinancialsignal]

That is why I recommend only for short term investment or as trading pairs, so traders can take profit from high price fluctuations. It is not very good if the SUI token is used as a long term investment.

Because it's a new token, you need to be extra careful when you want to invest on it

 

[Suba]

Because it's a new token, you need to be extra careful when you want to invest on it

You are right, SUI is a new token, which is often pumped by whales, so the price will skyrocket quickly, so we have to be careful, and smart if we buy this token for investment, so we don't lose in the future.

 

[nomad]

I have been hearing about a lot of good things about SUI tokens but I am yet to invest in this token. I will do more research and try to see if I find any value in it.