In a striking similarity to the APT coin, Layer 1 blockchain SUI’s native token SUI has recently bounced back by 60% from its local lows, raising questions about whether the same market makers and price actions are at play.
In a recent tweet, crypto expert Daan Crypto Trades highlighted the remarkable similarity between SUI and APT coins’ price actions. Check it out:
$SUI Now bounced exactly 60% from it's local lows, just like $APT did after going -66% from listing.
— Daan Crypto Trades (@DaanCrypto) June 20, 2023
As of yet, $SUI has been following the $APT playbook near perfectly in terms of size of the moves.
Same market makers, same price action? https://t.co/OL03QJR3mu pic.twitter.com/xxmwmPSe2u
In a recent tweet, Daan Crypto Trades pointed out an interesting similarity between SUI and APT in terms of the size of their moves. This observation has generated considerable interest among crypto enthusiasts, who are now speculating about the reasons behind this comparable performance.
The APT coin experienced a significant drop of 66% from its listing price before rallying back and achieving a 60% bounce. Similarly, SUI took a nosedive, dropping by 66% before making an impressive comeback, surging by 51% from its lowest point. While the overall timing of these moves differs, the size remains strikingly similar, prompting discussions about potential market manipulation.
One possible explanation for this parallel could be the involvement of the same market makers in both coins. Market makers play a crucial role in cryptocurrency, providing liquidity and ensuring smooth trading by buying and selling assets at specific price points. If the same market makers are indeed handling both APT and SUI, it might explain the uncanny resemblance in their price actions.
However, it is essential to consider other factors that could contribute to this phenomenon, such as market sentiment, investor behavior, and overall market trends. The crypto market is known for its volatility, and such patterns may not necessarily indicate deliberate manipulation.
As the situation unfolds, traders and investors should remain vigilant and conduct thorough research before making decisions based on these price movements. It is always wise to consider multiple sources of information and analysis to ensure a well-rounded understanding of the market dynamics.
In conclusion, the recent 60% bounce of SUI from its local lows, closely mirroring the performance of APT, has sparked speculation about potential market manipulation. While the involvement of the same market makers could be a plausible explanation, investors must approach these similarities cautiously and consider all possible factors before making any investment decisions. The ever-changing landscape of the crypto market warrants constant vigilance and in-depth analysis to stay ahead.
