The SUI price has fallen since May and reached a new all-time low on October 18.
The all-time low occurred despite the Total Value Locked (TVL) in the platform reaching a new all-time high. Is SUI in jeopardy of falling out of the top 100 cryptos?
SUI Falls to New All-Time Low
The SUI price has fallen significantly since its all-time high of $1.50 on May 4. In a span of 167 days, the price has decreased by 76%.
The decrease culminated with a new all-time low of $0.36 today.
Since June 10, the decrease has become more gradual. Also, it has been contained inside a descending wedge, considered a bullish pattern.
The fact that the price reached a new all-time low is especially interesting when considering that the Total Value Locked (TVL) is actually at a new all-time high of $59 million.
TVL has increased significantly since August, bottoming at $13 million.
So, despite an increased interest in the platform, the altcoin’s price has not reacted positively at all.
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Author: Valdrin Tahiri
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