In the current cryptocurrency market, where news, technical analysis, and positive developments seem to have little impact on token prices, both SUI and MINA tokens have seen significant price surges.
The remarkable increase in the SUI token’s price is primarily driven by its Total Value Locked (TVL), which has experienced substantial growth. Conversely, the notable surge in the MINA token’s price can be attributed to its ongoing reversal.
SUI Token’s Total Value Locked (TVL) and Price Momentum
Examining the Total Value Locked (TVL) of the SUI token reveals a consistent increase in value over the past 30 days, contrasting with struggles faced by other chains. Currently, SUI’s Total Value Locked stands at $441.54 million, with a 4.8% increase witnessed in the last 24 hours alone. Over the last 7 days, SUI’s TVL surged by over 35%, surpassing SOLANA’s TVL. Impressively, its value escalated by 109% over the last 30 days, outperforming top 10 chains like Ethereum, TRON, and SOLANA.
Increased Confidence in SUI Token
Traders and investors are increasingly confident in the SUI token, attributed to its recent partnership with Alibaba Cloud. Currently trading around $1.6, SUI has experienced a notable 15% upside price momentum in the last 24 hours. Following the Alibaba Cloud partnership, its price surged by over 45% in the 7 days, and over the last 30 days, the SUI token witnessed an impressive 103% upside momentum.
MINA Token’s Price Surge and Technical Breakout
Another altcoin attracting attention is MINA, which has seen a notable 10% price increase. Currently trading around $1.18, MINA has experienced over a 10% upside momentum in the last 24 hours. Analyzing MINA over a longer period, there has been a significant 15% upside momentum in the last 7 days, but a 13% downside momentum in the last 30 days.
According to expert technical analysis, on December 24, 2023, the MINA token successfully broke out and closed above the $1.04 level, marking a significant breakthrough. Previous attempts to breach this level had failed, making this breakout particularly noteworthy.
Following this breakout, the price of the MINA token has consistently surged, experiencing over a 50% upside momentum. Technical analysis suggests that the price is expected to decline to the breakout level for a retest. After finding support, the price is anticipated to resume its upward trajectory, which aligns with the current performance of the MINA token.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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