Now Everyone Is Talking About It! Beware of Giant Altcoin! - COINTURK NEWS
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Now Everyone Is Talking About It! Beware of Giant Altcoin!

9:27 pm (71 days ago)
July 18, 2023

In our evaluation published yesterday regarding the popular cryptocurrency, we warned about the risks and issued an important warning. Now, a significant part of crypto Twitter is also drawing attention to the same issue, and the discussions are growing. As these discussions can have a negative impact on the price in the coming days, it is advisable for investors to be cautious.

Attention to SUI Coin

Recent on-chain metrics were highlighting historical activity on the network. However, the reason behind this activity suggests that it could be fake. Yesterday, we also drew attention to the same issue at this time and mentioned that it could fuel discussions about the project in the coming days. And so it happened.

Sui Network’s on-chain activity, following the increase in network activity, has divided the community into two different opinions, leading to a debate. On-chain measurements such as daily transactions or daily active users indicate the popularity or power of a particular blockchain. SUI 8192 game has led to the highest level of transactions on the network.

Should You Buy SUI Coin?

Sui’s daily transaction has reached an all-time high, but Artemis has published a different evaluation on this matter.

“The increase in the data is not the result of a large number of state updates in a small number of transaction blocks, but is due to a significant increase in the number of transaction blocks that users have ultimately sent.”

The game mechanism of SUI 8192 is designed to publish each game activity, such as moving stones on the chain as a transaction. Artemis said they added 1,000 transaction blocks by playing the game for 10 minutes.

There are mixed opinions from community members about the activities on the chain. Famous trader Andrew Kang wrote on Twitter:

“Pumping up the Sui numbers. The chart looks good, doesn’t seem to differentiate in terms of transaction validity. Play the numbers until you succeed.”

Other various community members described Sui’s on-chain activities as “inorganic and manipulated.”

Some community members believe that SUI 8192 demonstrates the potential of the Sui network and that some users will remain active in the ecosystem even after the activity is over. Meanwhile, as the discussions continue, the native token of the network is finding buyers at $0.74. The altcoin, which has approached a daily gain of nearly 10%, seems to have embraced the view of the optimists. The other group opposing fake activity argues that this game was released to demonstrate network performance.

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