SUI, the native cryptocurrency of the Sui blockchain, has surged 15% over the past week as investors responded positively to news of Lion Group Holding Ltd. (LGHL) expanding its digital asset holdings.
As of Friday, SUI is trading at $3, reflecting a 4% gain over the past 24 hours. The rally has been fueled by Lion Group’s announcement on June 26 that it plans to purchase SUI tokens as part of a broader $600 million digital asset strategy.
The news sparked a significant rally in SUI’s price, with strong performance seen in recent trading sessions. According to technical analysis from CoinDesk Research, the token broke out of a bullish pattern in the past day, establishing firm support at around $2.87 early Thursday before climbing higher on notable trading volumes.
The Sui blockchain has positioned itself as a strong rival to Solana (SOL $146.46) within the Layer-1 ecosystem. Over the past two years, it has recorded a 54% rise in developer engagement, in contrast to the declining developer activity reported on many other blockchains, as noted in a recent Electric Capital study.
This past week, SUI has significantly outperformed the broader crypto market. While the CoinDesk 20 Index, which tracks leading digital assets, advanced about 5% over the same period, SUI has delivered nearly three times those gains.
