SUI Breaks Critical Resistance As Toncoin (TON) And the Altcoin Sector Prepare To Follow
Sui (SUI) broke a key resistance level after a top investment firm supported the token. Meanwhile, recent developments show that Toncoin (TON) and another altcoin are set to replicate SUI’s rise.
What is the nature of the support SUI got? And which altcoins are set to rise with TON? Stay tuned to find out!
SUI Breaks $1 For The First Time In Two Months
SUI has been one of the top gainers over the past ten days. The token fell to as low as $0.46 on August 5 during the worst dump in months. However, it rose to $1.11 a week later, breaking a critical resistance that had been in place for two months.
The major reason for SUI’s pump is the launch of Grayscale SUI Trust. This product allows “investors to gain exposure to SUI as a security while avoiding the challenges of buying, storing, and safekeeping SUI, directly.”
This move showed institutional interest in SUI, leading to more interest and a price surge. For example, SUI Open Interest, which tracks the inflow of new money into an asset, rose from $56.95 million on August 7 to an impressive $180.97 million by August 11.
Analysts say more interest in SUI could raise the price to $3.95 by 2024.
RCO Finance Is Set For Massive Presale Pump
RCO Finance is one of the altcoins expected to replicate SUI’s rise because of its revolutionary offerings, lucrative presale, and growth potential. The protocol’s primary offering is its AI-powered decentralized trading platform, which allows users to trade real-world assets (RWAs), such as stocks, bonds, commodities, real estate, etc., with their cryptocurrencies. The platform bypasses brokers, offers 50x leverage, charges low fees, and gives traders full control of their trades.
The AI component, the robo advisor, utilizes advanced algorithms and machine learning techniques to analyze market trends, identify opportunities, and generate trading insights. These insights improve profitability, reduce the time spent watching the markets, and shorten the learning process for new investors.
RCO Finance is also running its presale. Investors who buy RCOF, the native token, now for $0.0343 will earn a 1,066% profit on their initial investment. This means RCOF could potentially surpass SUI’s pump.
Notcoin Could Reach $10 Because Of This New Development
TON has rebounded admirably from the general market dump on August 5. The token fell to $4.89 but has gained 35.8% since then. One reason for this rise is Toncoin’s listing on Binance Spot on August 8. TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY were the immediately available trading pairs.
A week later, Binance also added Toncoin to its Launchpool. This will allow users to stake BNB and FDUSD to earn TON tokens. TON holders can also lock their tokens in Binance Super Earn and earn a Special APR.
Analysts say these developments will increase TON adoption. Increased TON usage could help TON cross $10 in 2024.
Buy RCOF To Enjoy Superior Gains And Other Perks
RCOF is RCO Finance’s native token. It has a total supply of 800 million, with 50% allocated to public sale. Ecosystem development and liquidity/market-making get 20% and 12%, respectively.
Marketing and private sales receive 5% each, while the team and advisors get 4% and 2%, respectively. The last 2% goes to ecosystem rewards.
RCOF is sold for $0.0343 in Stage 2 of the ongoing presale. When the price rises to $0.40 at the end of the presale, Stage 2 participants will earn 10x their initial investments.
Other benefits of holding RCOF include a discount on trading fees, voting rights on governance proposals, and up to 88% interest on staking the token. Token holders will also enjoy regular dividends, depending on the amount of RCOF they hold.
These factors make RCO Finance (RCOF) a gold opportunity for early backers. As mentioned, analysts believe the coin is poised to follow SUI’s bull run into new highs.
For more information about the RCO Finance Presale:
Join The RCO Finance Community
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
More articles
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
