Grayscale says 5 Altcoins are in the ‘Terrestrial Zone’ levels
Grayscale Investments has issued a series of endorsements for Sui (SUI) this week, touting its programming model for institutional use as an opportunity to buy the altcoin's current price.
The asset manager highlighted SUI as tokens trading at historically low levels along with Ethereum (ETH), Solana (SOL), Chainlink (LINK) and Avalanche (AVAX).
Why is grayscale targeting SUI now?
Greyscale argues that financial institutions need speed, efficiency and reliability, and highlights the SUI programming model, which aims to maintain security while increasing performance.
It follows a recent post in which Greyscale Research called current altcoin levels an attractive entry point.
“Grayscale Research believes that the current levels and others provide a compelling entry point for leading altcoins such as ETH, SOL, LINK, SUI and AVAX,” he said.
Head of Research Zach Pandle expands on the thesis in a special report. The firm's altcoin basket has fallen roughly 59% from its highs and gained just 2% from its lows since the firm's crypto ETP launched in January 2024.
Pandl also pointed to relative strength in crypto markets in March. While the S&P 500 fell 5%, the Grayscale Crypto Sector Index rose 4%.
“Currently, the status quo for altcoins to lead is very compelling,” said a quote from a Grayscale report.
Broad institutional context
Greyscale's SUI conviction extends beyond research. The company recently launched the GSUI staking ETF on NYSE Arca and operates a trust for SUI ecosystem tokens DeepBook and Walrus.
That makes SUI one of Greyscale's deepest single-ecosystem bets outside of Bitcoin and Ethereum.
SUI is currently trading at $0.87, down more than 80% from its cycle peak above $5.36.
Whether or not Greyscale's repeated support helps establish a floor at these levels depends on whether institutional capital follows the firm's public record.
The post Grayscale Says 5 Altcoins Are At ‘Territorial Zone' Levels appeared first on BeInCrypto.
