Analysts set a target price of $2.50 for SUI, which has previously risen 30% per week. Sui (SUI) is one of the most popular encryption assets in 2024, with significant market growth and large price fluctuations over the past year. After the price increase last week, the altcoin is currently in a consolidation phase. As usual, these consolidation trends have sparked a lot of speculation about the next price movement of the token. In his Saturday post, market analyst Michaël van de Poppe set a new target price for SUI based on its current bullish momentum. According to data, SUI has recorded a profit of 30.01% in the past seven days, making it the second-highest gainer in the cryptocurrency market on a weekly basis. Along with the price increase, the digital asset has reached a new all-time high of $2.28. However, Van de Poppe's prediction indicates that the altcoin will maintain its current upward trend and reach new highs between $2.30 and $2.50. However, looking at the daily chart of SUI, some indicators present a different view. For example, the price of the asset is significantly above its 100-day simple moving average, indicating that it may be overbought and may require a price adjustment. This position is further supported by the token's RSI, which is in the overbought zone. Overall, SUI is one of the best-performing tokens in 2024, with its overall price rising by 182.5% since the beginning of this year. However, for the first-layer assets, it has been a polarized market experience, with its value losing about 71.5% from April to August. Currently, the market sentiment around altcoins is generally bullish, and investors are confident in long-term profitability. Interestingly, analysts believe that SUI will be the diamond in the upcoming Bull Market and may replicate Solana's performance in 2021. If this prediction comes true, it could rise to $70 in the next 12-18 months. With the recent price increase, the open interest of SUI contracts has grown by 27.10% in the past 24 hours, reaching approximately 664.29 million US dollars. As a background, open interest measures the value of all active trading positions in the market, both long and short. Interestingly, the daily long/short ratio is currently 1.0665, indicating a slight increase in traders' confidence in the future price increase of SUI. The current SUI trading price is $2.22, up 9.62% in the past day. At the same time, the daily trading volume of the token has increased by 12.55%, and the Market Cap has reached 11.2 billion. (Data source: Semilore Faleti)

Jinshi data news on June 9th, the British Ministry of Defense said on Sunday that the Houthi armed forces in Yemen claimed that their statement about launching a ballistic missile at a British destroyer in the Red Sea was false. Earlier, although the Houthi armed forces did not say whether their claimed attack on the Diamond caused any damage, they described the attack as "accurate." A spokesman for the British Ministry of Defense said, "These claims are untrue."

Analysis: When Bitcoin reached a new high in this round, the selling pressure from "diamond hands" was only half of the previous bull market top. According to Cointelegraph, on-chain analysis company Glassnode stated in a new research report on May 28 that the selling pressure from "diamond hands" is only half of what it was at the previous bull market top. Bitcoin long-term holders (LTH) continue to resist the urge to take profits - even as the BTC price approaches $70,000 and the average profit in LTH wallets is 3.5 times. So far, LTH wallets have not been selling BTC at a pace that would make the current bull run unsustainable. LTH refers to a Wallet that holds Bitcoin for 155 days or longer, reflecting the low speculative end of the spectrum for Bitcoin investors. Glassnode indicates that LTH will soon collectively reach historically high levels of unrealized profits. Historically, during the transition phase between Bear Market and Bull Market, the average profit multiple of LTH is higher than 1.5 but lower than 3.5, and may last for one to two years. If the sustainable upward trend in the market continues and forms a new historical high during this process, the unrealized profits held by LTH will expand. This will greatly increase their selling motivation and eventually lead to a certain degree of selling pressure, gradually depleting demand. However, considering the data from the historical high in March, it provides a more optimistic market expectation. Even at the peak of $73,800, LTH did not experience a surge in selling like previous bull market tops. In the past two bull markets, LTH net selling reached 836,000 and 971,000 BTC per month, respectively. Currently, in this bull market cycle, the net selling pressure reached a peak of 519,000 BTC per month in late March, with approximately 20% coming from Grayscale Bitcoin Spot ETF holders.

A "Diamond Hand" Address was sold after holding SHIB for 3 and a half years, earning 419 times According to Lookonchain monitoring, a "diamond hand" Address sold after holding SHIB for 3 and a half years, with a profit of 419 times. The Address bought 48.09 billion SHIB for 2 ETH (about 2,625 at the time) on February 1, 2021, and just sold it for 278.7 ETH (about $1.1 million).

Gold Finance reported that according to Lookonchain monitoring, a "diamond hand" address sold SHIB after holding it for four and a half years, with a profit of 419 times. The address spent 2 ETH (equivalent to approximately $2,625 at the time) to purchase 48.09 billion SHIB on February 1, 2021, and just sold it at a price of 278.7 ETH (approximately $1.1 million).

According to Lookonchain's monitoring, after lurking for 4.5 years, a diamond-handed trader sold SHIB for profit. The trader spent 2 ETH (approximately $2625) to purchase 48.09 billion PEPE on February 1, 2021, and just sold it for 278.7 ETH, achieving a 419x return.

According to Lookonchain monitoring, a diamond hand trader has made a profit of 958,580 times by buying and holding PEPE, the trader has three wallets, spent only 0.041 ETH, worth about $83, bought 6.33 trillion PEPE, and has never sold it so far, and is currently worth about $79.4 million.

Odaily Planet Daily News According to the announcement from SingularityDAO on the X platform, the second round of Wisdomise TGE has been launched, and the release of reserved WSDM tokens is now online. For users who did not receive reserved tokens, it is now first come, first served. SDAO Diamond and Gold members will be eligible for a refund within 24 hours after the TGE launch.