Sui network’s persistent growth propelled it into the league of the top 100 cryptocurrencies by market capitalization, but the value of the SUI token has been on a downward trajectory. Sustaining this heightened market position presents difficulties, as demonstrated by the recent performance of the Sui token’s value.
Sui token is currently priced at $0.591478, according to CoinGecko, with a 0.3% drop in the past 24 hours and a 6.0% decrease over the past seven days.
The Sui network experienced a big surge, reaching unprecedented heights before undergoing a sharp decline recently. Have other indicators and the token’s valuation borne the impact of this plunge?
Sui Network’s Transaction Surge And Diverging Trends
A recent report indicates an interesting pattern in the Sui network’s daily transaction block numbers, which commenced in early July. Starting at around 200,000, the transaction count surged to 500,000 and dramatically jumped to over 6 million within a day.
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