In the crypto markets, the past 24 hours have seen significant developments. Let’s quickly review them. The price of Bitcoin has stayed above the crucial $41,300 mark, and SUI Coin has surpassed an important TVL threshold. What are the current price predictions for SUI Coin? The coming week in cryptocurrencies is expected to be exciting, but what’s the latest with the GBTC?
Crypto Latest Developments
OpenSea chief Devin Pinzer, in a conversation with DL News, mentioned that the company is considering acquisitions and even a sale if the right circumstances arise. Pinzer stated they are open to this possibility. Following the last bull season, OpenSea, which managed nearly all of the NFT volume, significantly reduced its workforce and saw a decrease in revenue.
DefiLlama data indicates that SUI, launched about a year ago by former members of Facebook’s Libra project, has risen to be among the top 10 blockchains in terms of total size. The developers of Sui, from Mysten Labs, emphasize that their main goal is to offer a blockchain experience as easy as sending an email.
According to Bitmex Research, the Bitcoin ETF saw an inflow of $14.8 million during its first uninterrupted five days of trading. BlackRock’s assets exceeded $2 billion, and despite sales of GBTC, the net inflow is encouraging.
SUI Coin Price Prediction
On the daily chart, the price of SUI Coin has not been able to close above the $1.45 support level. This suggests that the uptrend could reverse in the short term. If the daily close is below $1.36, this could lead to a drop to the support levels of $1.315, $1.22, and then $1.16. The short-term market sentiment is not negative, and it is likely that the price will maintain higher support levels.
The popular cryptocurrency, which only started trading in May last year, quickly fell after making an all-time high (ATH) around the $2 mark. The impulse to convert airdrop entitlements to cash kept it away from the peak for a long time.
On the weekly chart, if the $1.5 threshold is reclaimed, the price could target $2 again. The altcoin, which has been making higher peaks for the last three weeks, could surpass $2 and potentially reach peaks of $3 or more within a few weeks.
