Can Sui price Hit $40 Before This Rival Altcoin Steals Attention?

Sui price has soared to a record high this year, beating many of its layer-2 rivals like Ethereum, BNB, and Cronos. While Sui has done well, there are chances that the Aptos token price will beat it in the long term.

Crypto Analyst Predicts Sui Price May Hit $40

Sui price has done well since its inception in 2023 as it jumped from about $1.50 to record high of $5.3647. This rally happened because some investors predicted it would become a viable alternative to big names like Ethereum and Solana. 

One crypto expert who has provided accurate Sui price forecast in the past has delivered a highly optimistic prediction. He believes that the coin will jump to $10 in the current bull cycle and that it will eventually peak at $40. 

Such a move would push its market cap from the current $13 billion to $120 billion, assuming the circulating supply remains at 3 billion. The fully diluted valuation at that price would be over $400 billion.

The analyst, who has over 120k X followers, based his forecast on the cup and handle pattern that has formed since its inception. His previous Sui price prediction in December that it would jump to $5.5 was highly accurate. 

Fundamentals Suggest Sui Ruival Aptos Price Could Surge Too

Sui price has done better than Aptos, a similar blockchain that was launched in 2022. Fundamentals suggest that Aptos network is doing better than Sui and that it could surge in the longer term.

First, according to StakingRewards, Sui has a staking yield of about 2%, while Aptos yields 7%, a 5% spread. This makes Aptos a better coin, especially for income-focused investors. 

Second, Aptos has more applications in the DeFi industry than Sui. It has 54 dApps compared to Sui’s 51. Third, and most notably, Aptos has more stablecoins in its network than Sui since it has $730 million compared to Sui’s $487 million. 

More data shows that Aptos has more developers than Sui and Base. It has 1,695 developers building different types of apps compared to Sui’s 1,394.

Aptos Price Technicals Show Aptos Price Has More Room To Hit ATH

The weekly chart shows that the Aptos price has largely remain in a tight range since 2022. It has moved to the middle of the regression channel, an important support level. 

As such, Aptos just needs to move above the upper side of this regression channel at around $14.45 to confirm a strong bullish breakout. Assuming that it jumps to a record high as Sui and Solana have done this year, it means that it will soar by almost 700% to $72.50. 

The bullish Sui price forecast will become invalid if the coin crashes below the lower side of the key support at $4.75.