Tuesday, 28 May 2024
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SUI and Toncoin retrace, investors turn attention to Milei Moneda in hopes of market rebound

SUI and Toncoin retrace, investors turn attention to Milei Moneda in hopes of market rebound

  • Investors flock to Milei Moneda ($MEDA) for recovery, anticipating high returns. 
  • SUI’s TVL surpasses that of Cardano (ADA) and Near Protocol (NEAR). 
  • Toncoin (TON) experienced a 17% decline from its recent peak. 

Like many other altcoins, SUI and Toncoin (TON) have experienced retracements in the face of April’s market fluctuations. These retracements served as a reminder of the inherent volatility within the cryptocurrency space, prompting investors to reassess their strategies and seek out opportunities that offer stability and potential for growth. 

However, one project has managed to capture the attention and optimism of a growing number of investors: Milei Moneda ($MEDA). Backed by an excellent roadmap, this meme coin has exhibited all the hallmarks of a breakout crypto. Read on to understand the $MEDA hype.

SUI soars, but bears lurk 

The Layer 1 blockchain, SUI, witnessed a significant increase in inflows last month, leading to unprecedented TVL levels, surpassing top players like Cardano (ADA) and Near Protocol (NEAR). Meanwhile, its native token, SUI, soared to its ATH with an impressive 80% price pump.

In contrast to other Layer 1 blockchains, SUI achieved this success by maintaining decreased gas prices despite a surge in network transactions. It prioritizes security, with 106 validators operating 413 nodes to secure the SUI blockchain.

However, SUI has recently succumbed to the bearish pressure in the crypto market, retracing 25% from its recent high. Crypto analysts predict an additional 20% decline in SUI’s price to complete its much-needed price correction.

Toncoin retraces despite Telegram’s inducement 

Since receiving endorsement by Telegram, Toncoin’s (TON) price movements have been closely tied to developments within the popular platform. A series of initiatives within the company have consistently boosted Toncoin’s (TON) value.

This year, Toncoin (TON) asserted itself as one of the top crypto coins, boasting a current crypto market cap of $17.77 billion. This surge in value was particularly pronounced following Telegram’s announcement of its consideration for an IPO on March 11.

However, similar to SUI, Toncoin (TON) has struggled to navigate market volatility this month, experiencing a 17% decline from its recent peak. Crypto analysts speculate that TON’s price may fall…

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