#sui
Why did SUI coin plummet? Pay attention to news and technicals; making money is as easy as breathing.
What is Sui (SUI)?
Sui is a low-latency, high-throughput layer one blockchain.
Sui claims its goal is to deploy decentralized applications (DApps) through a superior smart contract architecture compared to competitors like Ethereum, aiming to "lead the next billion users to Web 3."
Why did it drop?
News
The largest decentralized exchange (DEX) in the Sui public chain ecosystem, Cetus, encountered a hacker attack and urgently suspended its contracts, leading to an instant reduction in liquidity, causing multiple trading pair prices to collapse, with losses exceeding $220 million.
Technical
The channel is trending down, reaching a high and then correcting.
Actually, the prospects and concepts of SUI are quite good, but this hacker attack has had a significant impact. It is expected to continue fluctuating downwards in the short term, as news in the crypto space always outweighs technicals.
However, Yuanbao must emphasize that when trading, one must always set take-profit and stop-loss orders. Otherwise, turning profits into losses is not a natural disaster but a man-made one. Establishing and strictly adhering to your own trading system is the first iron rule of trading and the key to profitability. I have mentioned this issue to my fans several times; some fans think it's unnecessary, but setting a rule for yourself is crucial. Never gamble on your own nature. How many people incur losses because they hold onto losing positions, always thinking, what if it comes back? Yuanbao was the same when starting trading, but it's essential to realize that this is wrong. We are here to trade, not to gamble. If you want to gamble, it's better to go to Macau for something more straightforward.
Become a fan of Yuanbao, and you won't lose your way on the path to wealth.
