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Airdrops, a long-standing process in cryptocurrencies, have created hundreds or even thousands of new crypto millionaires. While many airdrops have occurred in various projects in the past, the last two years have taken this process to a whole new level. Projects allocate a portion of their supply for airdrops to attract early investors and users, which has brought positive feedback in many projects. SUI was one of them. In mid-2023, as the market stagnation continued, SUI’s entry into the market delighted all its investors.
SUI Analyst Comments
In the one-year period since SUI’s emergence, its price has experienced significant fluctuations. Initially trading at $1.4, the altcoin later dropped to $0.5 but rose to $2 in April 2024. This rise pleased investors, but things turned around again, and it declined along with the overall market.
Despite Bitcoin 
$105,305‘s decline, SUI’s rise continues, catching analysts’ attention. Crypto Tony and Awawat commented on the subject on X.
First, Crypto Tony emphasized strong demand in his comments.
The analyst’s comment was as follows:
BTC dropped 8%, while $SUI rose 8%. There is strong demand. @SuiNetwork is a reason I invest and always pay attention.
Another notable commentator on SUI was Awawat, who explained why he bought it on X.
Haters gonna hate, but I started buying some $SUI in this range before Sui-Con.
How Much Is SUI Now?
Things have been looking good for SUI for the past two days. While the market experienced a deep decline, the altcoin rose by 10%. After a 9.38% rise in the last 24 hours, SUI approached the $1 level again, trading at $0.9358.
Additionally, SUI’s market cap exceeded $2.51 billion, positioning the altcoin at 31st according to Coinmarketcap. However, trading volume saw a 29.4% decline, indicating that investor interest might be waning despite the price increase.
