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SUI’s 6-Month High – How, Why, and Its Impact on the Altcoin’s Price
Following a major drop, Sui has witnessed a surge in new wallets and active addresses, which has resulted in it hitting a 6-month high. Over the last 24 hours, Sui’s new wallets surged by 150%, while active addresses climbed by an impressive 110%. This significant increase suggests that there is a growing demand for the altcoin.
As of the time of writing, Sui was trading at $2.55 after experiencing a daily decline of 9.8%. On a weekly and monthly basis, the altcoin depreciated by 10.07% and 26.14%, respectively.
Despite this recent drop, some positive signs have emerged that could indicate a trend reversal for SUI. The metric hit its highest levels in six months due to an increase in active addresses and new wallets, which is often seen as a sign of growing demand.
Source: https://ambcrypto.com/suis-6-month-high-how-why-and-its-impact-on-the-altcoins-price/
