Mysten Labs CEO: Rethinks Stablecoin Yields
Mysten Labs CEO Evan Cheng weighs in on stablecoin yield debate, pushing for business model rethink amid SUI's bullish 4h chart at $0.96.
SourceMysten Labs co-founder and CEO Evan Cheng (@EvanWeb3) fired shots at the stablecoin yield debate, questioning: “What is the point of technology improvement if it’s not forcing businesses to rethink their business model, to think about their relationship with the customer?” This comes as Sui blockchain, powered by Mysten, navigates evolving crypto landscapes, echoing broader shifts in Bitcoin (BTC) dominance and stablecoin innovations.
On the technical front, SUI grinds through a bullish structure on the 4-hour chart, holding firm above the EMA50 at $0.93 and EMA200 at $0.92, which serve as rock-solid long-term support levels amid this golden cross in MACD at 0.01 signaling sustained upward thrust. Momentum sits neutral with RSI at 59.84, but price action hugs the upper Bollinger Band resistance near $0.98, hinting at potential volatility exhaustion—watch for a tactical pullback to the lower band support at $0.89 before bulls reload, aligning with confluence for a SUI price prediction eyeing higher highs in this crypto market rally, far from any crypto market crash fears.
Eleanor Terrett
@EleanorTerrettBritish-born Fox Business journalist and producer, JMU graduate breaking news with a global perspective.