Market News

SUI Price Surge Driven by Active DeFi Engagement and On-Chain Demand

Recent market movements reveal that the SUI price has surged significantly, mainly due to heightened on-chain activity and robust participation in decentralized finance (DeFi).

Currently trading around the $1.9 to $2.0 range, SUI has seen an impressive increase of over 25% within the last 24 hours.

This jump has boosted its market capitalization above $7.44 billion, while trading volumes have escalated by more than 85%, surpassing $1.65 billion.

The ongoing uptick in transaction numbers and stable liquidity indicates this rally is rooted in genuine demand rather than mere speculation.

Analysis of on-chain transactions shows growing network usage, particularly since late November, with transaction intensity rising faster than the asset’s valuation.

Moreover, the Total Value Locked (TVL) within the SUI ecosystem has remained stable, indicating investors are retaining their positions instead of selling in response to the price increase.

Such alignment of increased transaction activity with price appreciation suggests a strong user commitment and an active DeFi landscape.

Looking ahead, SUI appears poised for potential further gains, with critical resistance levels lying close to $2.10 and $2.20.

If the asset maintains its current base above $1.45, it could pave the way for additional upward movements towards $2.5 and beyond.

Ultimately, while the current rebound seems promising, sustained growth will depend on maintaining higher trading volumes and confirming the bullish sentiment through additional market activity.