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$SUI is sitting at $1.10.
That's 79% below its January ATH of $5.35, and roughly back to where it was trading when serious accumulation first kicked off in late 2023.
The drawdown looks brutal on the chart.
But zoom out and the fundamentals never really wavered:
- Ecosystem kept expanding, TVL peaked at $2.6B
- Accounts crossed 200M,
- Volume is still running close to $1B/day.
Cycle-wise, we're at an interesting point.
Altcoins have been beaten down hard across the board, and the setups that tend to pay the most are usually the ones that feel the worst to enter.
No one's calling $SUI a screaming buy... but at these levels, the risk/reward is quietly becoming one of the more compelling ones in L1.
Not financial advice. Just a chart worth having on your radar.
$ASTER had a week worth watching.
Started flat around $0.66, barely moving for the first couple of days, then something shifted mid-week and it ran clean to $0.72: a near 9% move in a short window.
Since then it's been fading back, currently sitting at $0.674, right where the week opened.
The full retracement back to the origin is the part that makes you think.
Either that was a liquidity grab and the real move is still ahead, or distribution happened at the highs and we grind lower from here.
Volume has been picking up into the close though, which doesn't feel like a chart that's done moving.
Grayscale just filed to turn its @Zcash Trust into a spot ETF.
This is the first privacy coin ETF application in history.
Multicoin Capital had been positioning since February: Tushar Jain disclosed a large ZEC stake built as a macro hedge before the news broke.
$ZEC ran from below $420 to nearly $640 on the filing, settled around $550, still up ~33% on the week with a $9.3B market cap.
Also the broader pattern is worth noting: Grayscale has now filed spot ETFs for Cardano, XRP, Dogecoin, NEAR, and now Zcash in quick succession.
Does a privacy coin ETF work structurally if 30% of supply is permanently unauditable?