Sui Jumps Nearly 10% Amid Strong Market Momentum and New Developments
Sui (SUI), the native token of the Sui network, has rallied nearly 10% in the past 24 hours, moving from $2.94 to a high of $3.40, driven by renewed market interest and recent ecosystem updates.
During this period, SUI traded in a range from $2.94 to $3.24, with a $0.34 swing reflecting 11.5% volatility, based on CoinDesk Research’s technical analysis. Notably, trading volumes surged around $2.99 and $3.10, signaling strong institutional participation and solidifying those levels as key support zones for the token.
Resistance appeared at $3.27, where SUI faced selling pressure and retraced slightly. Meanwhile, support held firm between $3.20 and $3.21 late in the trading session, hinting that accumulation may be underway for another potential breakout.
The recent gains come on the heels of the Threshold Network’s tBTC launch on the Sui blockchain earlier this week. tBTC, an ERC-20 token backed 1-to-1 by bitcoin, could add more than $500 million in BTC liquidity to the Sui ecosystem, potentially expanding Sui’s role in decentralized finance and boosting investor interest.
Sui has cemented its position among the top five layer-1 blockchains by market activity. Daily trading volumes for the token have climbed around 135%, significantly outpacing the broader crypto market’s average of 52%, according to Coinbase data. Over the past year, SUI has surged more than 340%, dramatically outperforming the CoinDesk 20 Index, which gained about 2.8% in the same timeframe.
