Altcoin
Will It Boost SUI Price?
In a strategic alliance, Sui, a Layer-1 blockchain network, partnered with Libre Capital, a financial instrument tokenization leader. The collaboration focuses on allowing the community to invest in a diverse array of top-performing on-chain funds, including hedge funds, private credit funds, and money market funds.
Despite the crucial development within the ecosystem, the SUI price is entangled in a bearish trend. However, anticipation is building that the SUI token is gearing up for a significant uptrend following the launch of Libre Gateway.
Sui Partners Libre Capital for Tokenized Funds
According to an official announcement, Sui announced the launch of Libre Gateway on the blockchain ecosystem. With the alliance, Sui intends to provide accredited investors access to a diverse range of on-chain investment funds, including the market-neutral Laser Carry Fund (LCF) from Nomura’s Laser Digital.
In addition, users can also utilize investment opportunities and other notable funds from leading asset managers, encompassing hedge funds, private credit, and money markets. Sui Foundation’s Managing Director, Christian Thompson, stated,
Leveraging Sui’s Move-based infrastructure to provide institutional and accredited investors with secure and scalable access to real-world assets is a powerful use case for the technology. Collaborating with Libre is another critical stepping stone for Sui to bridge the gap between traditional finance and crypto.
Libre Gateway Launch Unlocks New Investment Opportunities
Importantly, the Libre Gateway launch on Sui introduces the tokenized Laser Carry Fund (LCF), a market-neutral strategy from Laser Digital. The LCF is set to offer high-yield returns by leveraging funding rates and yield opportunities in the crypto space. Laser Digital’s heritage brings capital markets and risk management expertise to the LCF.
In addition, the Libre Gateway on Sui allows institutional and accredited investors looking to diversify their digital asset portfolios to broaden investment opportunities. Libre CEO Dr. Avtar Sehra stated,
The launch of the Libre Gateway on Sui is a huge step forward to enable access to wealth and treasury management tools for users on Sui, and for Libre to take advantage of Move-based infrastructure to enable value added services like collateralised lending for onchain users.
Sui Price Targets $5.5: A Closer Look
As of press time, the SUI price is at $3.31, marking a daily dip of 4.99%. Over the past week and month, the token has experienced huge declines of 22.9% and 33.9%, respectively.
Despite the prevailing bearish trend, the SUI price is set for a bullish ascendance. According to analyst Crypto Tony, the token is targeting $5.5 in the near time.
In addition, another prominent figure, TraderPA, has also projected a bullish target for the altcoin. The crypto trader forecasted the token’s potential rally to $5.5. However, it remains unclear if the cryptocurrency will rebound, breaking the barricades of the negative zone.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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