A crypto trader who goes by the name Criptopaul has made a bold prediction about Sui, a competitor of Solana (SOL). According to Criptopaul, Sui has strong market fundamentals and significant potential for growth. He points out that the total value locked in Sui has been rapidly increasing, which is often seen as a positive sign for price movement. The total value locked refers to the amount of capital deposited in a protocol’s smart contracts and is used as an indicator of the crypto ecosystem’s health.

Criptopaul also mentions that memecoins built on the Sui blockchain, such as BLUB and Fud the Pug (FUD), could be a catalyst for Sui’s success. He believes that a Sui rally is inevitable, as the total value locked is skyrocketing, the user experience is seamless, and retail investors are entering the market. Additionally, memecoins like BLUB, FUD, and STD have recently launched and are gaining significant volume.

Currently, Sui is trading at $1.55, reflecting a 43% increase in the past seven days.

Moving on, Criptopaul suggests that the recent Federal Reserve rate cut and the declining US dollar index (DXY) could lead to a surge in altcoins. The DXY measures the value of the US dollar against major fiat currencies. A falling DXY typically indicates bullish sentiment towards risk assets, as investors tend to invest their dollars in stocks and cryptocurrencies.

Criptopaul also highlights Ethereum’s performance against Bitcoin (ETH/BTC) as an indicator of altcoin market strength. He believes that ETH/BTC has reached its bottom at around 0.0388 BTC and is poised for a significant breakout. He predicts that ETH/BTC could quickly return to the 0.06 level, despite negative sentiment on crypto Twitter.

At the time of writing, ETH/BTC is trading at 0.04235 BTC ($2,681), representing a 3.47% increase in the past 24 hours.

It’s important to note that the opinions expressed by Criptopaul are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where Criptopaul’s predictions were shared, does not endorse the buying or selling of any cryptocurrencies or digital assets.