by Coinstrooper Crypto Articles
Quick Take
  • The asset manager highlighted SUI alongside Ethereum (ETH), Solana (SOL), Chainlink (LINK), and Avalanche (AVAX) as tokens trading at historically low levels.
  • It follows a recent post in which Grayscale Research called current altcoin levels a potentially attractive entry point.
  • Head of Research Zach Pandl expanded on the thesis in a separate report.
  • Pandl also pointed to relative strength in crypto markets during March.

What Happened

Grayscale Investments posted consecutive endorsements of Sui (SUI) this week, praising its programming model for institutional use while calling current altcoin prices a potential buying opportunity.

Head of Research Zach Pandl expanded on the thesis in a separate report. He noted that the firm’s altcoin basket has fallen roughly 59% from its highs and gained only 2% from its lows since the January 2024 launch of the firm’s crypto ETP.

Grayscale’s SUI conviction extends beyond research. The firm recently launched its GSUI staking ETF on NYSE Arca and also operates trusts for SUI ecosystem tokens DeepBook and Walrus.

Market Context

The asset manager highlighted SUI alongside Ethereum (ETH), Solana (SOL), Chainlink (LINK), and Avalanche (AVAX) as tokens trading at historically low levels.

Pandl also pointed to relative strength in crypto markets during March. While the S&P 500 fell about 5%, the Grayscale Crypto Sectors Index rose about 4%.

Whether Grayscale’s repeated backing helps establish a floor at these levels will depend on whether institutional capital follows the firm’s public thesis.

Why It Matters

Why Grayscale Is Targeting SUI Now

Grayscale argues that financial institutions need speed, efficiency, and reliability, and highlights SUI’s programming model, built to preserve security while scaling performance.

Details

It follows a recent post in which Grayscale Research called current altcoin levels a potentially attractive entry point.

“Grayscale Research believes that the current levels for leading altcoins like ETH, SOL, LINK, SUI, and AVAX, amongst others, offer a potentially compelling entry point,” they said.

“Current levels for leading altcoins…are quite compelling,” read an excerpt in the Grayscale report.

Broader Institutional Context

That makes SUI one of Grayscale’s deepest single-ecosystem bets outside Bitcoin and Ethereum.

SUI currently trades near $0.87, having dropped over 80% from its cycle peak above $5.36.

The post Grayscale Says 5 Altcoins Are at ‘Buy Zone’ Levels appeared first on BeInCrypto.