SUI Breaks Key Resistance Level as Toncoin (TON) and Altcoin Sectors Prepare to Follow
gregory pudovsky
Posted: Aug 17, 2024 8:02 AM Updated: Aug 16, 2024 1:05 PM
SUI has broken through a major resistance level after top investment firms backed the token. Meanwhile, recent trends suggest that TON and other altcoins will follow suit with SUI’s rally.
What is the nature of the support that SUI received? And what altcoins will rise along with TON? Stay tuned!
SUI breaks $1 for first time in two months
SUI has been one of the biggest gainers in the last 10 days. The token suffered its worst drop in months, falling to $0.46 on August 5. However, it rose to $1.11 a week later, breaking a key resistance level that had been there for two months.
The primary reason for the SUI pump is the launch of the Grayscale SUI Trust, which “allows investors to gain exposure to SUI as a security while avoiding the hassle of purchasing, storing, and warehousing SUI directly.”
This movement showed institutional interest in SUI, which led to more interest and a surge in price. For example, SUI Open Interest, which tracks new money inflows into the asset, rose from $56.95 million on August 7 to an impressive $180.97 million on August 11.
Analysts say that as interest in SUI grows, its price could rise to $3.95 by 2024.
RCO Finance prepares for massive pre-sale pump
RCO Finance is one of the altcoins that is expected to replicate the rise of SUI due to its innovative offering, profitable pre-sale, and growth potential. The main offerings of this protocol are: AI-based A decentralized trading platform that allows users to trade real-world assets (RWAs) such as stocks, bonds, commodities, real estate, etc. with cryptocurrencies. The platform bypasses brokers, offers 50x leverage, charges low fees, and gives traders complete control over their trades.
The AI component, Robo Advisor, uses advanced algorithms and machine learning techniques to analyze market trends, identify opportunities, and generate trading insights. These insights improve profitability, reduce the time spent observing the market, and shorten the learning process for new investors.
RCO Finance is also conducting a pre-sale. Investors who purchase the native token RCOF can do so now. $0.0343 This would give a return of 1,066% on the initial investment, meaning that RCOF could potentially outperform SUI’s pump.
Notcoin could reach $10 thanks to this new development.
TON has recovered nicely from the general market crash on August 5. The token fell to $4.89 but has since gained 35.8%. One reason for this gain is the listing of Toncoin on Binance Spot on August 8. The trading pairs available immediately were TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY.
A week later, Binance also added Toncoin to Launchpool, allowing users to stake BNB and FDUSD to earn TON tokens. TON holders can also lock their tokens in Binance Super Earn and earn special APRs.
Analysts say these developments will increase TON adoption. The increased TON usage could help TON break $10 in 2024.
Purchase RCOF and enjoy great benefits and other perks
RCOF is the native token of RCO Finance. The total supply is 800 million, 50% of which is allocated to the public sale. Ecosystem development and liquidity/market making account for 20% and 12% respectively.
Marketing and private sales each receive 5%, while the team and advisors receive 4% and 2% respectively. The last 2% is used as ecosystem rewards.
RCOF is sold as follows: $0.0343 in step 2 In the ongoing pre-sale. If the price rises to $0.40 at the end of the pre-sale, Phase 2 participants will earn 10x their initial investment.
Other benefits of holding RCOF include discounts on trading fees, voting rights on governance proposals, and up to 88% interest on token staking. Token holders will also receive regular dividends based on the amount of RCOF held.
These factors make RCO Finance (RCOF) a gold investment opportunity for early backers. As mentioned, analysts believe that this coin is ready to move towards new highs following the bullish trend of SUI.
Here are the details on the RCO Finance presale:
RCO Finance Pre-sale Visit
Join the RCO Finance Community
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About the Author
Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. In his free time, Gregory is currently devoting his time to writing books on cryptocurrencies and blockchain.
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Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. In his free time, Gregory is currently devoting his time to writing books on cryptocurrencies and blockchain.