- SUKU claims to have three verticals -- DeFi, Metaverse, and digital marketing (omni)
- SUKU crypto is rising at a time when biggies like BTC and Ether are losing value
- Altcoins performed well last year, but volatility ails both high and low market cap cryptos
When many are seeking answers to ‘why crypto is crashing’, a few altcoins are defying the trend.
Crypto investment is not about high market cap assets like Bitcoin and Dogecoin alone. Last year, AXS and SOL, the native tokens of Axie Infinity and Solana respectively, emerged as top performing assets. Now, amid a wider bearish sentiment in the crypto market, one crypto is rising.
The best part is it has gained not only over the past 24 hours but is also up on year-to-date (YTD) basis. Even in 2021, this token gave positive returns to its backers. Let’s know more.
Decentralized Finance, popularly dubbed DeFi, is a leading sub-sector within the crypto market.
SUKU is not just claiming to be a DeFi player, but also a metaverse enabler for brands. The project has three offerings -- omni, metaverse, and DeFi. SUKU omni is targeted at businesses with a claim that it can increase the value of their products and services by creating ‘beautiful consumer experiences’.
SUKU metaverse also targets businesses by promising to help them promote services through the virtual world. Visual storytelling is at the heart of this offering. SUKU also claims to have a non-fungible token (NFT) gaming framework to add to the appeal.
Under DeFi vertical, SUKU is offering financial services including microfinance. The project would be using decentralized ledger technology to improve the financial transparency of any supply chain.
Also read: Why is crypto market down? 5 key reasons
SUKU DeFi lending
The platform seeks to harness blockchain capabilities by introducing stablecoin lending and borrowing services. It would use USDT and other stablecoins to power its financial platform.
SUKU crypto price
SUKU is the native token of the SUKU DeFi protocol.
With a market cap of over US$73 million, it is one of the top 500 crypto assets by market cap. By that measure, SUKU has yet to become a major player in crypto investment world. SUKU crypto price as of now is nearly US$0.60.
Also read: Why are NFTs valuable?
SUKU crypto price prediction
Over the past 24 hours, the trading volume of SUKU crypto has skyrocketed. It is up by over 5,000 per cent. This rise has led to price surging almost 65 per cent during the same period.
SUKU crypto began 2022 with a price tag of approx. US$0.47. It is one of the few altcoins that are up this year. It peaked to US$1.2 in early-November last year. A couple of days back, price had plummeted to US$0.36. SUKU has now regained the lost ground.
SUKU’s product offerings seem promising. DeFi is in trend, and SUKU metaverse may pitch it against high market cap meta tokens like Decentraland. SUKU price may breach the previous high of US$1.2 by the end of first quarter. But for this to happen, the project would need to bring more users on board.
Data provided by CoinMarketCap.com
SUKU crypto has defied the odds and is rising at the moment. SUKU price prediction relies on how the project convinces businesses to use its blockchain-based services for promotion and advertisement.