• The SEC’s lawsuit against Binance and Coinbase has caused a bearish force in the crypto market, causing Sui prices to drop 14% in 7 days and 44% in 30 days.
• Meanwhile, two new presale tokens, Wall Street Memes and Ecoterra, have had bullish momentum in recent weeks.
• Sui boasts faster transaction speeds and low costs thanks to its proof-of-stake blockchain architecture, however with extreme bearish forces at play, its price is expected to continue to struggle throughout June.
Sui Prices Take a Dive
The SEC’s lawsuit against Binance and Coinbase has resulted in extreme bearish forces that have caused Sui prices to drop 14% over the past week and 44% in the last 30 days. With such major losses, traders are looking for alternative ways to hedge their investments due to the potential of further losses throughout June.
Wall Street Memes & Ecoterra Presales Show Bullish Momentum
In light of the bear market, two new crypto presale tokens – Wall Street Memes and Ecoterra – have emerged with bullish momentum as traders look for alternative options outside of Sui. Both projects are currently selling their tokens through presales on various platforms.
Sui’s Flexible Architecture & Scalability
The Sui blockchain derives its name from Japanese word for water. It has gained strong traction due to its flexible architecture and scalability thanks to its proof-of-stake blockchain technology which offers faster transaction speeds and low costs compared with other networks. Earlier this week it announced SIP 6 proposal enabling liquid staking which allows developers to build features for the same.
SEC Lawsuit Affecting Crypto Market
Despite previous gains seen by Sui following its listing in May, it is now struggling against overwhelming bearish pressure caused by the SEC suing Binance and Coinbase being felt throughout the crypto market as a whole. This is set to continue into June as traders remain uncertain about where they should put their money next given current conditions.
Hedging Against Bear Markets
Given these circumstances, investors are turning towards presale tokens like Wall Street Memes or Ecoterra as an alternative way of hedging against the bear markets which could otherwise lead them into significant losses if left unchecked or not properly managed over time.