SUI has been flooding the feeds today—not because it’s rallying, but because of a “show.”
On July 4, on-chain TPS surged to 6.08 million. On October 7, Sui Basecamp will test again on-site, with CertiK verifying in real time. Navi and Cetus are both resharing the updates, and even the official Chinese account is running a ticket giveaway. The hype has been building since last night.
In the Top 10 CEX trading volume list, SUI is also on the board, up 4.65% over the past 24 hours. It’s not exactly running away from the pack. Still, on Square, some people are saying “70% of the bulls are adding to positions,” while others are warning that “SUI is the weakest with an hour of drifting down.” The price has been hovering around 0.75, without committing to a clear direction.
The two sides of the coin are: is the on-chain record just the old story repeating, or the starting point of a new narrative? If the TPS challenge is only a repeat test, this wave of momentum may not last more than a few days; but if the market is willing to pay for the performance story, SUI could still see a short-term spike.
Now the question: when the narrative is hyped to the max, but the price keeps oscillating—who exactly is actually buying into it?
On July 4, on-chain TPS surged to 6.08 million. On October 7, Sui Basecamp will test again on-site, with CertiK verifying in real time. Navi and Cetus are both resharing the updates, and even the official Chinese account is running a ticket giveaway. The hype has been building since last night.
In the Top 10 CEX trading volume list, SUI is also on the board, up 4.65% over the past 24 hours. It’s not exactly running away from the pack. Still, on Square, some people are saying “70% of the bulls are adding to positions,” while others are warning that “SUI is the weakest with an hour of drifting down.” The price has been hovering around 0.75, without committing to a clear direction.
The two sides of the coin are: is the on-chain record just the old story repeating, or the starting point of a new narrative? If the TPS challenge is only a repeat test, this wave of momentum may not last more than a few days; but if the market is willing to pay for the performance story, SUI could still see a short-term spike.
Now the question: when the narrative is hyped to the max, but the price keeps oscillating—who exactly is actually buying into it?