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SUI Price Soars 12% In Minutes, Triggering Huge Liquidations: Predictions For The Altcoin

The native token of the decentralized smart contract platform Sui (SUI) kicked off the week with an all-time high of $4.96, buoyed by an overall bullish trend in the cryptocurrency market. The momentum was short-lived, as SUI experienced a significant retracement on Friday, plummeting nearly 30% to $3.49. However, the token rebounded swiftly, stabilizing at approximately $4.55, representing a 12.8% increase from the week’s low and just 8.9% shy of its record price, SUI Surges Amid Market Volatility In stark contrast, major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have continued to experience downward corrections following the US Federal Reserve’s (Fed)0 recent decision regarding interest rates. The Fed’s dovish stance has negatively impacted risk assets, contributing to a generally bearish sentiment in the market that led the market’s leading crypto, to retrace almost 10% from the record high of $108,000. The volatility surrounding SUI led to nearly $14 million in liquidations across both long and short positions on centralized exchanges, with Binance reporting the highest liquidation rates within the past 24 hours, according to data from Coinalyze. Related Reading: Bitcoin Rally Loses Momentum: Could A Drop To $75,000 Signal The Final Correction? Notably, recent analysis has indicated that Sui ranks third in net inflows over the past three months, with close to $1 billion entering the network, highlighting the growing investor interest in SUI, further bolstered by a new partnership with Phantom wallet. Crypto analyst Route 2 FI noted in a recent social media post on X (formerly Twitter), that the bullish reversal in SUI’s price indicated strong investor sentiment, culminating in the token’s record peak at the beginning of the week. Analyst Targets $6 As Market Momentum Builds Michael van de Poppe, another respected analyst, pointed out the substantial daily candle movement in SUI, emphasizing that the price dipped into support before quickly bouncing back. He expressed optimism that this trend is far from over, suggesting that SUI could continue its upward trajectory with a target of $6 in sight. The recent surge in SUI’s price is also expected to attract Bitcoin liquidity into its ecosystem, further enhancing the token’s bullish prospects. Technical analyst Rekt Capital highlighted that SUI has effectively executed a post-breakout retest from its re-accumulation range. Rekt also noted that strategic partnerships with Babylon Labs and Lombard Finance would facilitate the integration of Bitcoin liquidity, which could significantly benefit the Sui platform. Related Reading: XRP, Solana Among Altcoins Witnessing TD Buy Signal, Analyst Reveals The growing interest in SUI raises questions about its potential performance in 2025. However, crypto researcher Eyezenhour recently emphasized that while there are numerous reasons for optimism regarding SUI’s future, the key factor is attention. The researcher contends that the Sui Network has started to captivate institutional investors, a trend attributed to its dominant technology, upcoming integrations with Phantom and Backpack, and a talented core and executive team. This is expected to continue throughout the current bullish cycle and into 2025, adding to the bullish sentiment for the altcoin as the year draws to a close. Featured image from DALL-E, chart from TradingView.com BitcoinSistemi

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World Liberty Financial (WLFI) Makes Strategic Token Investments Following Ethena Partnership

World Liberty Financial (WLFI), a DeFi initiative reportedly backed by the Trump family, recently acquired 250,000 USDC worth of ENA tokens, just hours after announcing a partnership with Ethena. Alongside this purchase, WLFI also converted 102.9 cbBTC into WBTC, a move potentially influenced by its partnership with Tron. Tron, which previously invested $30 million into WLFI to secure 2 billion $WLFI tokens, also appointed Sun Ge as a consultant for the project. Since November 30, WLFI’s multi-signature wallet has spent a total of $44.99 million USDC to acquire six different tokens: – ETH: Acquired 8,105 ETH for $30 million USDC at an average price of $3,701. – WBTC: Purchased 103.1 WBTC with $10 million USDC at an average price of $97,182. – LINK: Bought 78,387 LINK tokens for $2 million USDC, averaging $25.5 per token. – AAVE: Secured 6,137 AAVE tokens with $1.99 million USDC at an average price of $324. – ENA: Spent $750,000 USDC to obtain 741,687 ENA tokens, averaging $1.01 per token. – ONDO: Used $250,000 USDC to purchase 134,216 ONDO tokens at an average price of $1.86. 由特朗普家族支持的 DeFi 项目 World Liberty Financial (WLFI) 在 4 小时前继续购买了 25 万 USDC 的 ENA，就在他们与 Ethena 达成合作之后。 另外，他们还将持有的 102.9 枚 cbBTC 兑换为 WBTC。 这个可能是受到合作伙伴 Tron 的影响：此前 Tron 向 WLFI 投资了 3000 万美元获得 20 亿枚… https://t.co/YuhgSB58km pic.twitter.com/zNngFEFsrr — 余烬 (@EmberCN) December 19, 2024 These calculated investments demonstrate WLFI’s active involvement in diversifying its portfolio and strategically positioning itself within the DeFi ecosystem. The partnership with Ethena, alongside its existing ties to Tron, appears to be driving these bold financial moves as WLFI continues to expand its influence in the blockchain space. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: peshkov / 123RF // Image Effects by Colorcinch BitcoinSistemi