Will SUI Reach $10? Analyzing Sui’s Price Potential Over the Next Decade
Powered by its native token, SUI, the Sui blockchain network is emerging as a permissionless platform crafted specifically for smart contracts. Leveraging the Move programming language, Sui allows SUI token holders to engage in network governance, manage gas fees, and participate in staking. This approach raises the question: could Sui’s structure and capabilities be a game-changer for the smart contract landscape?
Maximum Token Supply
As of now, approximately 1,165,931,966 SUI tokens are in circulation out of a total supply of 10 billion SUI tokens.
Price today
The live price of Sui (SUI) is currently $1.992639 (SUI/USD), with a market cap of $5.51 billion USD. Over the past 24 hours, SUI has seen a -1.96% price change. The 24-hour trading volume stands at $704.23 million USD, and the circulating supply is approximately 2.76 billion SUI.
Price History
● Today: Decreased by $0.039844 (-1.96%)
● 30 Days: Increased by $0.155274 (+8.45%)
● 60 Days: Increased by $1.21111 (+154.97%)
● 90 Days: Increased by $1.318718 (+195.68%)
These changes highlight significant growth over the past few months, with particularly high gains in the last 60-90 days.
Price Information
● 24h Low & High:
○ Low: $1.985483
○ High: $2.103587
● All-Time High: $2.358713
● Price Changes:
○ 1-Hour Change: -0.93%
○ 24-Hour Change: -1.96%
○ 7-Day Change: +0.26%
This data captures recent fluctuations in Sui’s value, with minor increases over the past week despite slight declines in the past hour and day.
Market Information
● Popularity Rank: #18
● Market Cap: $5.51 Billion
● 24-Hour Trading Volume: $704.23 Million
● Circulating Supply: 2.76 Billion (27.64% of Total Supply)
This data highlights SUI's strong presence in the market with significant trading volume and market cap, reflecting sustained interest and activity among investors
Daily and Weekly Price Forecast: Today, Tomorrow, and the Next 30 Days
Based on current trends, Sui's value is projected to see a steady increase over the coming days, with an estimated 5% rise by the end of this week, potentially reaching $2.042337.
On November 2, 2024, the price is expected to be around $2.040427, slightly increasing to $2.0407 by November 3, 2024. By November 9, 2024, it could reach $2.042337, and further increase to approximately $2.048626 by December 2, 2024. This forecast indicates a positive trend, suggesting Sui's price will continue its upward momentum through the next month.
Yearly Price Prediction 2024-2030
Looking ahead to 2030, the Sui (SUI) token is projected to see a notable increase in value, potentially reaching $2.734367, reflecting an estimated growth of about 5% per year.
The price forecast anticipates that in 2024, SUI will be valued at approximately $2.040427, with gradual increases expected over the following years. By 2025, the price may rise to $2.142448, followed by further growth to about $2.249571 in 2026. In 2027, the token's value could reach $2.362049 before advancing to the projected $2.734367 in 2030. This trend underscores a consistent upward trajectory for SUI as it establishes itself in the market.
Is Sui the Future of Smart Contracts?
As the landscape of blockchain technology continues to evolve, Sui is positioning itself as a compelling contender in the realm of smart contracts. With its innovative use of the Move programming language and a unique Delegated Proof-of-Stake (DPoS) consensus mechanism, Sui aims to offer enhanced speed, security, and scalability for decentralized applications. Backed by significant funding and a strong team, including members from Meta, Sui's potential to revolutionize smart contract functionality is promising. As it continues to develop its ecosystem, particularly in the DeFi space with initiatives like the $51.3 million fund, Sui could very well be the future of smart contracts, providing a robust platform for developers and users alike.
FAQ’s
How does Sui compare to other blockchain platforms?
Sui differentiates itself with its focus on high-performance smart contracts and the innovative Move programming language, which allows for better resource management and security.
What is the future outlook for Sui?
With its strong backing, innovative technology, and ongoing developments in the DeFi sector, Sui is positioned to be a significant player in the smart contract space. Price predictions suggest gradual growth over the coming years, with estimates indicating it could reach around $2.73 by 2030.
What recent initiatives has Sui undertaken?
The Sui Foundation recently launched a $51.3 million fund aimed at enhancing its DeFi landscape and supporting developers in building on the platform.
What can SUI tokens be used for?
SUI tokens are used for network governance, covering gas fees for transactions, and participating in staking activities within the Sui ecosystem.
Who developed Sui?
Sui was introduced in May 2023 by Mysten Labs, a company founded by former Meta employees, and has garnered over $300 million in funding.
What are the key features of Sui?
Sui focuses on swift transaction confirmations, heightened security, and low costs, making it suitable for various decentralized applications, especially in the DeFi sector.
