Investing in New Crypto Coins: The Next Big Opportunity
As Solana (SOL) and Sui (SUI) make significant strides in their network developments, a new player in the crypto market is catching the attention of investors. This affordable DeFi coin is currently in its public presale phase, having already raised more than $10.3 million.
With its innovative features and potential for passive income, this presale token is becoming a top choice for investors seeking stability and steady growth in the crypto sphere. Could this new DeFi coin emerge as a dominant force in the crypto industry? Here’s what you need to know!
Solana’s Bullish Trajectory: What to Expect
The price chart for SOL reveals a five-wave impulsive pattern that began in early October, reaching a high of $263 before retracing. Recently, SOL’s price dipped to $209, testing crucial support levels at the 0.382 Fibonacci mark. If this support holds, we can anticipate a resumption of bullish momentum, targeting the $264 peak and higher Fibonacci extensions at $311 and $340.
Despite a decline in SOL’s trading volume, the high open interest and positive funding rates among derivatives traders indicate a bullish sentiment toward the token. With strong on-chain metrics for Solana and solid support levels between $215 and $229, a breakout could propel SOL to test resistance at $245.
On December 13, 2024, SOL was trading at $225, reflecting a 5% decline over the past week. Analysts project that SOL will rise to $242 by the end of the month. As SOL gains momentum, investors are eyeing a new affordable coin that promises significant returns due to its long-term potential.
Sui Network’s Growth and Partnerships
Backpack, a leading wallet and exchange platform, has teamed up with the Sui network to enhance global asset management capabilities. Through this integration, Backpack now offers seamless wallet solutions to Sui users, supporting major cryptocurrencies like Solana.
In addition to Backpack, Phantom Wallet has also integrated with Sui, bolstering the network’s competitive edge. Furthermore, Karrier One, a decentralized physical infrastructure network on the Sui Network, recently launched advanced WiFi Hotspot devices on a global scale.
As of December 13, 2024, SUI was valued at $4.68, marking an 11% increase over the previous week. Analysts anticipate that SUI will climb to $5.45 by the end of the month as network developments unfold. The partnership with Phantom Wallet and the introduction of a new crypto trading platform offering a superior custody solution position SUI for further growth.
Source : bitcoinist.com