Sui Blockchain Emerges as a Major Contender, Says Ex-Goldman Sachs Exec

Raoul Pal, CEO of Real Vision and prominent macro analyst, has identified a layer-1 blockchain that he believes could rise to dominance in the crypto space.

Pal recently told his audience on X that Sui (SUI), a blockchain often compared to Solana (SOL), is showing signs it could become one of the leading networks, or even “the Chosen One” among emerging blockchains.

$SUI is actiing like it is going to be one of the key Chosen Ones of the major new chains, if not THE Chosen One…

The chart has broken out of the inverse head and shoulders, which is an important first step. 1/ pic.twitter.com/6tVpfELMCv

— Raoul Pal (@RaoulGMI) September 17, 2024

According to Pal, Sui’s growing momentum is worth noting, particularly with its recent bullish signals and tech enhancements. One of these signals is Sui’s breakout from an inverse head and shoulders pattern, as well as its relative strength compared to Solana and other top cryptocurrencies in a sideways market.

On the technology front, Pal highlights the Mysticeti upgrade, which has improved transaction speeds to less than a second, making Sui the fastest chain.

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The upcoming Pilotfish upgrade is expected to push its scalability further, even surpassing Solana’s capabilities. He also sees potential in Sui’s Web3 vision, aiming to build a decentralized infrastructure that can support large-scale applications similar to those of major tech companies like Meta.

Pal is particularly optimistic about Sui’s prospects in gaming, noting the platform’s ability to attract developers and integrate features like Circle’s USDC stablecoin. However, he emphasizes that Sui is still in its early stages, and its future success will depend on the development of scalable applications on its network.