Binance, the largest cryptocurrency exchange, is preparing to list the recently popular SUI token. Meanwhile, one analyst stressed that SUI will see a big sell-off, so caution should be exercised. Here are the details…
Analyst warns for SUI
A recent tweet by an analyst has sparked some controversy in the cryptocurrency community. The person in question labeled the SUI token as “vaporware”. He suggested that receiving a distribution of over five billion tokens would be a big sell. The term “vaporware” implies that the token has no real value or substance. That is, it essentially stamps the token as an “empty promise”. Because Sui Network has announced an innovative scheme that allows loyal community members to acquire the SUI token through the newly launched community access program.
This exceptional program includes special terms and conditions that apply to the purchase of the SUI token. Unlike traditional airdrops, the program includes various pricing structures, including general and whitelist sales. Users participating in the general sale can purchase SUI tokens for $0.1 each. On the other hand, Sui supporters will receive $0.03 tokens each during the whitelist sale. That is, they qualify for a significantly discounted price.
The SUI token can be purchased on popular cryptocurrency exchanges KuCoin and OKX, with certain restrictions. The negative opinion expressed by the analyst may be alarming for some potential investors. However, it should be noted that individual opinions may not always reflect overall market sentiment or the potential success of a token. Although the analyst’s tweet suggests that the SUI token is overvalued, it is ultimately up to individual investors to do their research and make informed decisions about whether or not to invest in the token.
Binance lists SUI
On the other hand, Binance has announced that it will list Sui (SUI) on its platform. This news comes after Binance announced its 33rd project dedicated to the development of Sui on Binance Launchpool. cryptocoin.com As we reported, Sui is a DPoS layer 1 Blockchain based on the Move programming language. The addition of SUI to Binance’s platform means users can buy and sell SUI with popular cryptocurrencies like Bitcoin (BTC) and Tether (USDT), as well as fiat currencies like Euro (EUR) and Turkish Lira (TRY).
The trading pairs that will be available for SUI are SUI/BTC, SUI/USDT, SUI/TUSD, SUI/BNB, SUI/EUR, and SUI/TRY. The transaction will open on May 3, 2023 at 15:15. This means users can buy, sell and trade SUI using any of the supported currencies. Additionally, Binance has announced that users will enjoy zero maker fees on the SUI/TUSD trading pair until further notice. This move is likely to attract investors to the platform and further increase the demand for SUI.
Launchpool is another major improvement for SUI. Because it will allow users to deposit their BNB and TUSD into separate pools to raise SUI tokens for two days starting from May 1, 2023 at 03:00 until May 3, 2023. In addition to Binance; Kucoin, Huobi, Gateio, Bybit, Mexc and Bitget will also list SUI at 3pm today.
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