Layer 1 blockchain Sui has experienced a substantial surge in value in the last week, surpassing the majority of the top 100 alternative cryptocurrencies. Sui’s price surged from $0.45 to $1.12 on August 5th, resulting in a 150% increase within a week.
In May, Sui released 1.04 billion SUI tokens, representing 10.4% of the maximum supply and 39% of the market capitalization at that moment. Regular unlocks are planned weekly along the vesting period, progressively decreasing until 2023.
Raoul Pal, the founder of Real Vision and a macro expert, who is affiliated with the Sui Foundation, has a partial expectation that Sui will start to beat Solana (SOL).
In the long term, he thinks that worries about the token unlocking and valuation are probably exaggerated, and that demand is the determining factor. SUI is a coin with a high Fully Diluted Valuation (FDV), which is disliked by certain individuals.
