- After a large drop, the new portfolios and active addresses of Sui rose for the past 24 hours
- The value of Sui fell by 26.14% during the aforementioned period
In the past month, Sui consolidation range has traded within the consolidation range of $ 2.4 and $ 3.7. At the time of writing, the Altcoin acted at $ 2.55 after a decrease of 9.8% in the daily charts.
Similarly, the Altcoin has been written off with 10.07% and 26.14% on the weekly and monthly graphs respectively.
Source: Artemis
Despite the aforementioned decline, however, there have been some recent signs of hope for the Altcoin. First of all, there has been a significant increase in active users. Likewise, the active addresses of Sui climbed by 110% to hit 1.5 million.
Because active users increase, it seems that the demand from the Altcoin is also increasing. This usually means that when active addresses climb, investors return or enter the market.
According to Artemis, these active addresses are usually new portfolios, with SUI seeing 1.2 million new portfolios and 243.5K recurring portfolios.
Source: Artemis
Such a huge peak in new portfolios can be a sign where Sui demands a lot. Especially with new investors who are constantly entering the market.
It is important that these addresses are usually bullish and have been introduced to collect the Altcoin. This bullishness can be demonstrated by the recent peak in the weighed sentiment of Sui, with the same climbing to reach levels that are last seen in September 2024.
When weighted feelings become positive, this means that most users have a positive perception of the network and expect it to grow.
Source: Santiment
Can Sui see a trend remote?
In the light of the aforementioned statistics that reach their highest levels in 6 months, it seems that investor sentiment is now slowly leaning Bullish.
This shift is evident from the fact that the financing speed of Sui Oi also became positive. Earlier, the financing speed of the Altcoin OI had remained negative for 2 days. During this period, the Altcoin saw that the metric hit a low point of 3 weeks in the charts.
Source: Messari
That is why such a sudden reversal implies that investors have now become bullish and are now taking more long positions and paying a premium allowance for the same. The Altcoin positions this shift in market sentiment in particular for more profit on its price charts.
Simply put, Sui sees a shift in market sentiment from Beerarish to Bullish. This has led to more addresses being opened. If these addresses turn to a strong question, Sui can reclaim $ 2.8 and try a switch to $ 3.
With sellers who are still on the market, it will continue to sell a withdrawal to around $ 2.4.