What crypto news involve the coins Sui (SUI), Celestia (TIA), and Pancakeswap (CAKE)? Let’s see below the latest updates along with an overview of current prices and future forecasts.
SUI: double top pattern and growth prospects
The daily price chart of the crypto SUI shows the formation of a double top pattern, highlighted by the failure to close above the previous high and the subsequent price decline.
Currently, the price is near the recent high, suggesting bullish prospects in the short term.
The long-term trend further supports buyers, as SUI is following a bullish trajectory. Additionally, the daily chart shows a bullish crossover of the EMA, indicating a strong prevailing trend.
At the time of writing, the RSI stands at approximately 57.98, while the SMA line is at 63.37. The RSI has recorded a bearish crossover with the SMA line, indicating short-term bearish sentiments.
The price forecast for the cryptocurrency SUI in 2024 reflects optimism among analysts, predicting a maximum of $1.422 by the end of the year. However, some analysts have a bearish view, estimating a price of $1.085 by 2024.
We remind you that Sui aims to make the ownership of digital resources fast, private, secure, and accessible.
Its architecture uses the Move programming language for the creation of objects, programmable entities with smart contracts capable of storing data and executing them in parallel.
Trajectories of the Celestia crypto in comparison with SUI and PancakeSwap
The modular blockchain Celestia has experienced extraordinary growth since its launch on October 31, 2023, distributing TIA tokens to 580,000 users and activating the mainnet.
The TIA token has recorded an increase of over 460%, going from $2.10 at its debut price to a current value of $13.
Although the altcoin had a slow start with only 510,000 transactions in the first two days, its growth has been remarkable.
On-chain transactions have indeed reached 6,649,287 since the beginning, highlighting an 85% increase in overall activity in just two weeks, according to Santiment data.
Despite a temporary decline in social and development metrics, 2024 is witnessing a significant increase in activity, indicating a renewed interest.
The price of TIA has followed this trend, growing in parallel with on-chain activity and the increasing demand generated by users interacting with the blockchain.
The growing demand for TIA is fueled by generous incentives for staking in the Cosmos and Osmosis ecosystem.
In addition, it is supported by the hope of receiving token airdrops from projects integrated with Celestia, similar to the practices of DeFi protocols like Jito and Solana’s Marinade in December 2023.
With a price of $13 on January 3rd, TIA gained 42% in 30 days and experienced a significant increase of 481% in the previous 90 days.
The market capitalization of TIA has gone from an almost non-existent value to $885 million on November 15, 2023, and currently stands at $1.9 billion, according to CoinMarketCap.
The growth of TIA value is correlated to the launch of Celestia’s mainnet beta on October 31, 2023, marking a new chapter in the evolution of the modular blockchain.
PancakeSwap optimizes its tokenomics with a strategic reduction of CAKE tokens
PancakeSwap has taken a proactive approach to consolidate its position in the world of decentralized finance (DeFi), implementing a significant reduction of CAKE tokens, going from 750 million to 450 million.
At the same time, the company has made improvements to its growth model, tokenomics, and emissions.
Recent initiatives, including the release of CAKE Tokenomics v2.5 and the launch of the veCAKE Gauges system, have catalyzed steady growth across all sectors of the organization.
After a period of constant deflation, PancakeSwap’s next goal is to bring the entire CAKE supply to 450 million, aiming to consolidate a robust deflationary mechanism.
These adjustments have been implemented not only to ensure safety to the community, but also to accelerate the generation of ultrasound and offer greater flexibility in expansion.
Before formalizing the announcement, PancakeSwap involved its vast community through a forum, evaluating the collective sentiment.
The received feedback has been extremely positive, paving the way for the presentation of an official recommendation.
Thanks to overwhelming support from the community, with 97% of the votes in favor of reducing the supply of CAKE tokens, the organization has made the decision to properly reduce the supply of CAKE.
