Raoul Pal, one of the well-known names in the cryptocurrency world, has entered the radar of cryptocurrency investors with a new token that has caught their attention. Known as a macroeconomist and Real Vision CEO, Pal has taken SUI, the native token of smart contract-based blockchain projects Sui, under the spotlight with his posts on social media platform X. Pal stated that he sees remarkable opportunities in the price movements of the SUI token, signaling a new trend in the crypto markets. Pal, in particular, drew attention by comparing SUI to Solana (SOL). Here are the details…
Pal announced the new “Solana” project
Raoul Pal, one of the leading names in the cryptocurrency world, macro guru and Real Vision CEO, brought up a smart contract-based blockchain token that he finds potentially remarkable. In his post to his 1 million followers on social media platform X, Pal stated that SUI, the native token of layer-1 blockchain Sui, “is starting to look quite interesting in terms of price.” “I am reviewing all major tokens for the next Solana-like opportunity and Sui seems like one of them to me,” Pal said, adding that SUI is “showing signs of breaking out against most tokens” and is “potentially one of the fastest horses in the race.”
The macro guru said that SUI is about to break out against AVAX, the native token of layer-1 blockchain Avalanche. He also noted that SUI has broken out of a downtrend against Celestia (TIA), a decentralized network that aims to deploy blockchain with low costs and technical hurdles. When paired with Bitcoin (BTC), Pal said that SUI has already broken out of a downtrend, drawing investors’ attention to this token. Referring to SUI’s potential risks, Pal said:
Yes, there are token unlocks, but the worst is over and the game is really about demand, not supply. Supply is known, demand is the variable factor. Yes, it is a high Completed Dilution Value (FDV) coin and some people don’t like them. I like to find places where price action dominates the current narrative
Pal is a member of the SUI Foundation
It is stated that high FDV crypto assets have high valuations and low initial circulating supply, which can lead to significant dilution in the future. On the other hand, it is also noteworthy that Pal is a board member of the Sui Foundation. The Sui Foundation is an organization that has the mission of supporting and empowering developers in the Sui blockchain ecosystem. Raoul Pal’s interest in the SUI token can be interpreted as the beginning of a new trend in the cryptocurrency markets. However, it is important for investors to tread carefully, considering potential risks such as high FDV.
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