Suku is an ecosystem based on blockchain technology that makes supply chains more efficient and accessible. Therefore, it connects consumers and businesses. The Suku ecosystem aims to bring together Web3 communities by providing them with tools and
incentives to grow.
The ecosystem consists of three things, namely the Suku platform, business partners and technological partners. Suku’s goal is to build an open software distribution model that consists of applications and services built by Suku’s technological partners and used by Suku’s business partners
.
Suku aims to solve the obstacles to the mass adoption of Web3, that is, its goal is to build better tools and infrastructure needed to increase the usefulness of Web3.
Web3 technology can help developers and innovators imagine the future of the decentralized Internet and, therefore, has enormous room for growth in the future. In addition, according to reports, the global Web3 blockchain market is expected to grow at a compound annual interest rate of 44.9% by the end of 2030
.
In addition, the Suku ecosystem is also engaging with NFTs. His latest announcement to coin the NFT tweet can also be considered an innovative step in this area. Reports say that the NFT market is expected to grow at a CAGR of 34.2% by the end
of 2030.
Aside from that, according to reports, the CPI index increased to 7.1% in November 2022. However, the data shows that the CPI Index declined from June 2022 to November 2022. Therefore, the comparative decline in the CPI index can be considered a positive indicator that people could start investing in speculative assets again,
including NFTs.
What differentiates SUKU encryption?
Well, the Suku platform can help consumers make informed choices when buying a product or service by making the supply chain more transparent and accessible. There aren’t many blockchain platforms on the market that focus on managing the supply chain along with focusing on developing the Web3 world
.
By integrating blockchain with the supply chain, Suku aims to provide greater transparency and efficiency for small and medium-sized businesses. In addition, the Suku platform allows the integration between different applications and services to roll out the entire supply chain activity
.
Therefore, since the Suku platform is both in NFTs and in supply chain management, the Suku token certainly has the potential to grow in the near future. However, there needs to be greater clarity in which direction the activity is directed and what is the distribution of revenues
.
However, it is more than 95% lower than its all-time highest price and therefore can potentially grow once market conditions ease.
Table of Contents:
SUKU Tokenomics
SUKU encryption is the native governance token of the Ethereum-based Suku platform. The SUKU cryptocurrency may have a total supply of 1,500,000,000 tokens, of which 178,403,407 tokens are already in circulation. The following are the main use cases of SUKU encryption
:
- Users can use their SUKU cryptocurrency to pay transaction fees on the platform.
- SUKU cryptocurrency holders can participate in the governance of the platform.
- SUKU tokens are used to give rewards on the platform.
Suku coin price prediction: Can tweets be minted as NFTs?
Earlier this week, Suku announced two components, namely Sukuthis and Suku Web3 Connect as a step towards its broader product range.
Here, Sukuthis is a widget that can allow users to coin their tweets as NFTs directly from Twitter. They can do this by simply tagging ‘@Sukuthis’ in any post or reply. Soon after, users will receive a response from Sukuthis with instructions to collect the NFT using
their Twitter account.
With Suku Web3 Connect (which is a Chrome extension), users can collect the minted tweets, manage their NFT collectibles, and exchange them on OpenSea (at no cost).
Although Sukthis and Suku Web3 Connect are in beta development, this is a rather unique initiative on the part of the Suku ecosystem. Let’s also see what the Reddit community has to say about this initiative.
In a discussion on Reddit on a similar topic, a user commented that by coining Tweets as NFT, it can be verified if someone actually said it or if it is a modified version. He added that users can even check if the account is real or not.
Suku Price Prediction
Let’s first look at SUKU crypto’s price history over the past few months to predict if it may rise or fall in the coming months. Note that its performance in recent months may help us obtain the required context for the future. Let’s discuss
it:
Above is his chart for 1 year and as we can see that the market price of the SUKU cryptocurrency, a year ago, was $0.42. Thus, there is a drop of more than 86.9% in its price in a year, considering its current price of $0.055. In addition, there were numerous ups and downs stating that the excursion was not really continuous. It even peaked at $0.62 during that time
.
The price of the SUKU cryptocurrency fell by more than 17.9% in three months (although the increase was not consistent), keeping in mind that its price 3 months ago was $0.067. However, its price peaked at $0.08 during this period (as illustrated below
).
The all-time highest value of the SUKU cryptocurrency is $1.25, which it reached in November 2021. Subsequently, the price started to fall and is currently priced at $0.055 (once again the decline was not consistent over the entire period). In addition, its market price a month ago was $0.052. It means that it has increased by more than 5.5% since then
.
Note that the SUKU coin is 95.6% lower than its all-time highest price, which means it has enormous room for growth in the future.
Competitor analysis: Suku vs Alchemy
Alchimia- It is a Web3 development platform that creates a series of powerful tools to help users scale decentralized applications.
Alchemy is a blockchain development platform that aims to provide developers with fundamental building blocks to create the future of technology. Here, users can connect their Dapps to the blockchain and scale with their
users.
Suku- The Suku ecosystem is a blockchain-based system to make supply chains more accessible and transparent and, therefore, powers Web3 by bringing communities together. It provides a number of tools to help the Web3 community grow faster and stronger
.
Suku coin price prediction: Will SUKU reach $1?
To reach a price of $1, the SUKU cryptocurrency must grow 18.18 times, considering its current market price of $0.055.
The Suku cryptocurrency reached its all-time high price of $1.25 in November 2021, where it grew 7.81 times in just 4 months (from its lowest value of $0.16 in July 2021). It means that it has grown 1.95 times in a month
.
Thus, the SUKU cryptocurrency takes 9.32 months to reach a price level of $1.
However, the current market situation of liquidity and inflation is definitely not in favor of the cryptocurrency market. Therefore, it cannot even reach that value in the time calculated above. Therefore, reaching $1 is definitely not a difficult goal for the SUKU cryptocurrency because it has reached that value earlier. However, it will take much longer to reach that value
.
Suku Crypto Price Prediction: Will SUKU reach $10?
The SUKU cryptocurrency must grow 181.81 times to reach $10, considering its current market price of $0.055.
Because Suku showed growth of 1.95 times in a month, it will need a minimum of 93.23 months (less than 8 years) to reach a price level of $10.
But, as discussed earlier, macroeconomic conditions are currently not in favor of the cryptocurrency market, inflation is also much hotter than when the SUKU cryptocurrency reached its highest price of all time.
Therefore, the SUKU cryptocurrency certainly cannot reach a price level of $10 within 8 years, rather it needs more time than that once economic factors turn out in its favor.
Where can I buy the SUKU cryptocurrency?
SUKU crypto can be purchased on many centralized and decentralized exchanges, including SushiSwap, Coinbase, KuCoin, Bittrex, Gate.io, BTCEX, HitBTC etc.
