SUI is a Layer 1 blockchain that aims to outperform established networks like Ethereum and Solana. Built using the Move programming language, SUI enables parallel blockchain transactions and claims to process up to 125,000 transactions per second with minimal fees making it fast and scalable.
The analyst behind Kelvin Finance channel on YouTube analyzes the potential of SUI, a cryptocurrency that has garnered attention since its launch.
SUI made its debut in May 2023, SUI price was trading around $1.32 then, before dipping to $0.44, the cryptocurrency has rebounded since then and is currently valued at $4.84. With a market cap of approximately $14.11 billion and about 2.92 billion SUI coins in circulation. SUI has caught the attention of many looking for profitable investments.
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Comparison with Solana: A Potential 5.9x Spike
Kelvin drew a comparison between SUI and Solana, a well-established crypto. During its last bull run, Solana achieved a staggering $75 billion market cap.
By applying a growth multiplier obtained from this comparison, he concluded that SUI could potentially see a 5.9 times increase in value. This calculation leads to a predicted price of $25.62 for SUI, should it reach a similar market cap.
Lee believes that those holding 39,040 SUI coins could be potential millionaires if the market cap hits $75 billion during the bull run, he calculated the necessary investment that could make one a millionaire.
By dividing $1,000,000 by the 5.9x potential growth, an investment of approximately $169,450 in SUI at its current price could yield a million-dollar return.
