Macro guru and Real Vision CEO Raoul Pal is highlighting a layer-1 blockchain that he sees becoming a major force to reckon with.
Pal tells his one million followers on the social media platform X that Solana (SOL) competitor Sui (SUI) is “acting like it is going to be one of the key Chosen Ones of the major new chains, if not THE Chosen One.”
According to the Real Vision CEO, people should “pay attention to Sui” amid bullish signals, technological upgrades and growing adoption. Pal says one of the bullish signals Sui is flashing includes breaking out of an inverse head and shoulders pattern.
“But more importantly, it has broken the downtrend vs SOL (and all the top 20 tokens). Its relative strength in a sideways market is worth paying attention to.”
On the fundamentals informing his bullish thesis on Sui, the macro guru says,
“Talking of the tech stack, Mysticeti upgrade brought sub-one second finality (fastest of all chains) and the coming Pilotfish will supposedly bring transactions per second (TPS) that scales even beyond Solana Firedancer.
But what are Sui/Mysten Labs trying to achieve?
Basically, they are trying to rebuild the internet, brick by brick for Web3. It is built to scale to Facebook/Meta size use cases (3 billion-plus)…
…from zero-knowledge (ZK) logins to the coming Walrus decentralized storage protocol.”
According to Pal, gaming is a potential niche that Sui could succeed in and the announcement that Circle will be issuing the USDC stablecoin on the platform Is “another good step.”
The Real Vision CEO, however, says,
“But SUI is still in its early innings and the proof will have to be in successful applications that scale built on top of the tech stack.”
Sui is trading at $1.18 at time of writing, up by around 53% in two weeks.
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