What if you had purchased SUI exactly a year ago for € 1000? – Passionategeekz

Imagine: it is June 2024. You have just put some savings aside and decide to try something with crypto. Not with the well -known names such as Bitcoin or Ethereum, but with something new. Namely an emerging blockchain that promises super -fast transactions, with the name: Sui. What would have happened if you had bought SUI for € 1000?

+200% in one year: a surprising outlier

While many Altcoins with difficulty held their value in the past year (and Evenereum barely moved), Sui did remarkably well. In one year, Sui’s course has risen by around 200%. That means that your investment of € 1000 would now be worth around € 3000. So no wrong move, especially in a market that is largely in “Bitcoin Season”, according to the Altcoin Index.

But where does that return come from? And what makes Sui so special?

What is Sui anyway?

Sui is a so -called Layer 1 blockchain, just like Ethereum and Solana, but then built with a few smart innovations under the hood. The core of the network is all about:

• Near instant and cheap transactions
• Parallel processing of transactions, which greatly improves scalability
• An object-oriented data model, unique in the crypto world
• The programming language Move, developed by former Meta employees (Facebook)

Those former Meta-Engineers also founded Mysten Labs, the team behind Sui. Names such as Evan Cheng and George Danezis may not sound known, but their experience with Facebook’s Diem project (the predecessor of what ever had to be a Facebook coin) speaks volumes.

What is Sui used for?

Sui focuses on the following applications:

• Defi (decentralized finances)
• NFT’s en gaming
• Everything where speed and low costs are crucial

SUI Token plays a central role in this. You can pay for transactions, votes on network decisions (governance), and deploying for strike to secure the network.

And then Altcoin Season?

Although Sui performed well, we are according to the altcoin season index Still in “Bitcoin Season”. That means that most altcoins still have to take it against Bitcoin when it comes to price increase. If this changes, and Altcoin Season starts, Sui could just take another step up.

So … had it been smart?

In retrospect for sure. But that does not mean that you now have to buy blind sui. The race has already risen considerably, and markets remain unpredictable. Nevertheless, the example of Sui shows that innovation, combined with a strong team, can indeed pay, even in a quiet market.

You can learn this from this example

• Note projects with real technical renewal
• Look not only at the hype, but also at who is behind it
• And don’t forget: crypto is and remains full of risks, so only invest what you can miss

In short: if you had stepped on Sui a year ago, you could have smiled today. And that makes it a good example of how Altcoins can surprise.

Are you also curious about other coins? Then download the Passionategeekz app and find your favorite crypto in the app.

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