Cryptocurrencies News Today

SUI crypto price is one of the hottest debates in the cryptoverse. SUI is the native asset of the upcoming SUI blockchain. The project has gained a lot of hype even before its launch as millions of crypto enthusiasts compete for presale allocations on different exchanges. In this article, we take a shot at SUI price prediction after its launch while also discussing how to buy SUI crypto. SUI is a utility token of the Sui blockchain that can be used to pay for network fees, validator staking, liquidity provision, and governance. According to the project team, the max circulating supply of SUI is capped at 10 billion coins. SUI Network vs Aptos Diem was cryptocurrency project which was being developed by Meta. However, the project failed to comply with the regulations and was eventually discarded in 2020. Out of the ashes of Diem, Aptos and SUI projects emerged consisting of the individuals rendered jobless after the closure of Diem. Due to their common origin, Aptos and SUI, both have many similarities. However, there are many differences as well. Since Aptos blockchain is already live, we can use the current market cap of Aptos for our SUI price prediction. Aptos has a modular architecture that enables customizations while SUI has a multi-layered architecture. SUI Network vs Aptos SUI Network Architecture Both SUI network and Aptos blockchain employ a proof-of-stake consensus mechanism. However, the consensus algorithm behind both blokchcians is different. While SUI blockchain uses Narwhal and Tusk, Aptos leverages BlockSTM for parallel executions. This means that SUI differes from Aptos as its uses a DAG-based memepool for parallelization at the execution layer. SUI and Aptos, both use Move programming language to enable parallel execution. The language is based on Rust and wsa developed by Meta. While Aptos follows the standard design, SUI takes a slightly different project centric approach. Aptos Circulating Supply & Market Cap The current price of APT coin is $9.92, and the circulating supply is 189.5 million. This puts it at a market cap of $1.87 billion and makes it the 33rd biggest cryptocurrency by market cap. The max circulating supply of APT is infinite while its total supply is 1.032 billion. This makes its fully diluted marketcap $10.1 billion. We can use this information to predict the SUI crypto price after its launch. SUI Network Funding Due to their common origin, Aptos and SUI have become rival smart contract platforms. There are many big names backing both projects with huge capital. Aptos has raised $400 million from industry giants like Andreessen Horowitz, FTX Ventures, Jump Crypto, a16z and others. The parent company behind SUI, Mysten Labs has also amassed $336 billion from notable VCs like Lightspeed Venture Partners, Andreessen Horowitz and Redpoint. The project has also announced a current valuation of $2 billion. SUI Crypto Price May Hit $3.5 At Launch Day As mentioned above, SUI network is not live yet and is expected to launch on Wednesday 12 pm UTC. SUI coin will also be minted on the same day. Although the max supply of SUI will be 10 billion coins but only a fraction of it will be available on the launch day. The initial circulating supply of the latest smart contract platform will be only 528 million coins. Considering SUI to be at the current marketcap of Aptos, it gives us a price of $3.5 per coin. This price will put SUI at a $1.81 billion market capitalization. The peak market cap of APT coin was $3 billion. If we assume SUI to hit this market cap, then this gives us a price target of $5.68 per coin. It is worth mentioning here that this is just speculation and the actual token price will be determined by the market participants at the launch day. In the meantime, I’ll keep sharing updated outlook on SUI network in my free Telegram group that you’re welcome to join.