Despite the concerns, the SUI token staged an over 120% rally in the past month.
Layer-1 chain Sui (SUI) has been capturing significant attention lately. As of this writing, SUI has surged by 125% over the past 30 days and has skyrocketed 345% from its yearly low of $0.46 on August 5. These impressive figures position SUI among the top performers in the crypto market over the last two months and as one of the few altcoins which reached their all-time high. SUI Vs. Solana Yesterday, the buzz intensified when several accounts on X shared charts suggesting that SUI had overtaken Solana in daily transactions for the first time. Enthusiasts quickly touted SUI as the next “Layer-1 killer,” poised to surpass Solana, which has been a leading contender among Layer-1 blockchains behind Ethereum. Related Reading: Solana (SOL) Path To New Highs: Analyst Eyes $160 As Critical Breakpoint However, this claim faced scrutiny from industry experts. Developer João Mendonça took to X to rebut the assertions, stating: “SUI did not surpass Solana in daily transactions — there’s no free lunch. On the left = a deceptive chart where each instruction of each transaction is counted as a transaction on SUI. On the right = Artemis’s genuine read of daily transactions.” Mendonça referenced a detailed explanation by analytics firm Artemis from May. The firm highlighted that in traditional Ethereum Virtual Machine (EVM) architectures, users submit transactions that execute a set of instructions. In contrast, on the SUI blockchain, users submit a transaction block containing multiple transactions that update objects in the global state. Therefore, comparing transaction counts directly between SUI and other chains like Solana can be deceptive. They explained: “Artemis decided to count Sui transaction blocks instead of transactions when comparing activity with Ethereum and other chains. This decision was based on the fact that Sui has a different architecture than the EVM, and counting transaction blocks gives a more accurate picture of user interactions.” Prominent crypto analyst VirtualBacon also weighed in on the discourse, analyzing the SUI/SOL price chart. He remarked: “SUI vs SOL ratio almost at resistance. One must question the upside potential of this ‘new killer L1’. For this to keep running another month, it either completely takes over the market share of Solana, or we rotate back to the proven chain.” Expressing skepticism about SUI’s ability to maintain its momentum against Solana’s price, he added: “Somehow people in comments believe they’re still early to $SUI at ATH and 20B FDV. It’s nowhere close to Solana level adoption imo.” Related Reading: Solana ‘In Serious Danger’ If $137 Support Breaks – Analyst Shares Targets Crypto analyst Michaël van de Poppe also casted doubts that the SUI price can run above the all-time high immediately. Via X, he wrote today: “SUI did run away and printed a new all-time high. The first one! Didn’t allow me to enter, but it might be topped for now. Looking at the same region or $1.85 for entry zones. Massive runner.” Despite the debates, SUI has undeniably been gaining traction. In September, Raoul Pal, founder and CEO of Global Macro Investor and RealVision, lauded SUI as a “groundbreaking ultra-fast L1, super efficient, full blockchain ecosystem”. He emphasized that SUI, developed from the remnants of Meta’s Diem project, is designed to scale for billions of users transitioning from Web2 to Web3 technologies. Pal’s endorsement amplified interest in SUI within the crypto community. Adding to its growing ecosystem, Circle—the company behind USDC, the world’s second-largest stablecoin by market capitalization—announced in September that the Sui network would support USDC. This integration is expected to enhance liquidity and utility on the Sui blockchain, potentially attracting more developers and users. Most recently, on Monday, crypto exchange Bybit announced support for SUI on its Launchpool platform. This move makes SUI only the second chain available on the service after Mantle (MNT), providing users with new opportunities to earn rewards and participate in the Sui ecosystem. At press time, SUI traded at $2.01. Featured image from CoinDCX, chart from TradingView.com
Daily active wallets in the DApp industry soared in the third quarter of 2024, driven primarily by a 71% growth in the performance of AI-related applications.
Charles Hoskinson, the founder of Cardano (ADA), addressed the crypto community from London amid a European tour that included Italy and Switzerland on Sunday. In a video update, Hoskinson dispelled rumors about his commitment to ADA while offering insights into other blockchain projects, notably Sui. Hoskinson Clarifies His Position On Sui Hoskinson began by acknowledging […]
SUI has seen a 15% surge in the past week following its remarkable price action throughout Q3. The cryptocurrency’s performance continues to fuel investors’ sentiment, but some believe the upcoming unlock event could hinder its rally toward a new all-time high (ATH) next quarter. Related Reading: SUI Ready To Test $2 Resistance – Bullish Pattern Suggests New ATH Soon From ‘SUIptember’ To ‘Uptober’ In the past three months, SUI’s price surged 114%, moving from the $0.8 mark to the $1.75 price range. The cryptocurrency was among the best performers throughout Q3, registering green numbers while most tokens bleed during the market retraces. In August, the token saw up to 50% price surges amid the market downturns, registering a 73% recovery from the monthly lows and 14% from its opening price. This month, the token also saw a massive increase from September’s opening, registering a 119% surge in the last 30 days. Market analyst Crypto Bullet noted that SUI’s monthly candle is “absolutely phenomenal” as it has been retesting levels unseen since April and is sitting 20% below its all-time high (ATH) of $2.17. The analyst previously suggested that the cryptocurrency was poised to test and break its major resistance level of $2 in Q4, which is usually a bullish period for the market, and reach a new ATH around the $5 mark. During its 10% jump over the weekend, SUI tried to reclaim the $1.85 resistance but dropped to the $1.7 support zone as the market saw a 2.5% dip in the past day. Since the drop, the token has been hovering between the $1.70-$1.75 price range, recovering its levels from 24 hours ago. Sui Network Milestones Fuel The Token’s Rally The sentiment surrounding SUI seems fueled by the networks’ recent achievements. According to Artemis Terminal data, Sui Network surpassed all other chains in daily net flows on Monday, reaching $6.8 million in positive net flows in the past day. Comparatively, Ethereum and Solana registered $4.9 million and $3.4 million net flows in the last 24 hours. The network also had the second-largest daily inflows by chain with $10.3 million, only surpassed by Ethereum’s $35.8 million. Moreover, the chain reached the long-awaited $1 billion Total Value Locked (TVL) milestone on Sunday, less than two years after its Mainnet launch. Nonetheless, many investors and crypto analysts consider that the upcoming October unlock event could negatively affect SUI’s performance. The event will unlock 64.19 million tokens worth $112 million, increasing the cryptocurrency’s circulating supply by 2.4%. Despite the unlock, some market watchers consider the cryptocurrency’s performance will continue its bullish rally. Crypto analyst Bluntz recently called the token “a certified beast” due to its recovery from the dips. Related Reading: Solana Price (SOL) Holds Crucial Support Level: Is the Rally Still Alive? Bluntz noted that “every dip on 4h end up abc-looking and keeps trucking higher,” including the latest weekend drop. He suggested that the token is still in the “macro wave 3 still and hasn’t even had a wave 4 yet.” Per his chart, SUI’s wave three will target the $2 resistance level before retracing to the $1.65-$1.70 support zone in wave 4, setting the wave five’s target around $2.6. As of this writing, the cryptocurrency is trading at $1.76 and has outperformed the global crypto market in the past week, according to CoinGecko data. Featured Image from Unsplash.com, Chart from TradingView.com
The social sentiment around SUI has skyrocketed in the past few days to an unprecedented level as a result of an increase in community interaction witnessed across multiple platforms. This recent surge in interest indicates growing support and enthusiasm from the vibrant community, solidifying SUI’s stance in the crypto sector as a potential asset. Massive […]
SUI has recently emerged as one of the top-performing altcoins, posting an impressive 120% surge since early September. This rapid price increase has captured the attention of both investors and analysts, as data from DefiLlama reveals that SUI’s Total Value Locked (TVL) is approaching the $1 billion mark. The rising TVL has fueled speculation that SUI could be on the brink of reaching a new all-time high, with many pointing to its growing ecosystem and increasing adoption as key factors driving its momentum. Related Reading: XRP $0.60 Triangle Breakout Could Ignite Parabolic Rally – Key Levels To Watch Currently, SUI is testing a critical resistance level, which, if broken, could trigger a surge in price that may challenge its all-time high of $2.18. As market conditions continue to evolve and interest in decentralized finance grows, many are watching SUI closely for its potential to lead the next altcoin rally. Should the resistance hold, the price may consolidate before making a stronger push higher. However, if bulls breakthrough, it could set the stage for a significant upward movement, positioning SUI as a standout performer in the crypto space. SUI Rising TVL Suggests Growing Demand SUI has ignited a wave of optimism among investors and traders who view the Layer-1 blockchain as poised to become one of the biggest winners in the ongoing bull run. Key metrics and insights from analysts reveal a growing interest in SUI, driven not only by retail investors but also by institutions pushing its price higher. On August 5, during a broader market crash, SUI’s Total Value Locked (TVL) plummeted to $342 million. However, since then, the blockchain has staged an impressive recovery, with its TVL surging nearly threefold to $885 million, according to data from DeFiLlama. TVL is a critical metric that reflects the total dollar value of assets staked or locked within a protocol. A decrease in TVL indicates liquidity is being withdrawn, while an increase, such as SUI’s 40% rise over the past 30 days, signals growing trust in the project and a healthier ecosystem. This sharp increase in TVL is a positive sign, suggesting that SUI’s network is attracting more liquidity and usage. Related Reading: Crypto Analyst Predicts Dogecoin Will Surge 1,000% Past ATH – Price Targets Revealed Currently, the price of SUI is just 40% below its all-time high, creating an ideal setup for bulls who believe this project is poised for explosive growth. Many anticipate that SUI could be one of the breakout stars of this cycle, as its ecosystem continues to expand and investor confidence strengthens. Technical Levels To Watch SUI is now trading at $1.55 after a massive 60% rally since last Tuesday, showing strong momentum in the market. The price has increased with increasing volume, consolidating just below a key supply level—a sign of strength and confirmation of a bullish trend. Bulls must keep SUI above $1.40 to sustain momentum. Once a supply zone, this level may now act as a new demand zone. Consolidating above $1.40 could drive the price to higher levels, specifically toward $1.71. Reclaiming $1.71, a crucial supply zone, would position SUI to challenge its all-time high. Breaking through this level would set the stage for further price appreciation and possibly a new ATH. Related Reading: Bitcoin Indicator Signals ‘Shift To Bullish Territory’ – Can BTC Break Past $65,000? A deeper correction is possible if SUI loses its current price levels. Lower demand zones around $1.25 or even $1.17 might provide support. This would slow the rally, but the overall bullish outlook remains intact if the price stays within these key levels. Featured image from Dall-E, chart from TradingView
Bitcoin's rally to $64,000 increased traders' interest in altcoins like AVAX, SUI, TAO and AAVE.
The surge in Sui Network's TVL and SUI price indicates growing confidence and investment in its DeFi ecosystem, potentially driving further adoption.
The post Sui Network TVL soars to record high, SUI price up 30% appeared first on Crypto Briefing.
Sui’s technical capabilities and the upcoming release of a native gaming console could see the network eventually rival Solana, but tokenomics pose a looming threat.
SUI has made some gigantic moves recently, posting strong bullish signals. In the last week, SUI registered an impressive 33% rally, pushing the price up to $1.18 at press time. This is getting people wondering whether the token is preparing for a longer ascent, as many are waiting for key levels that might influence the situation. Related Reading: Bitcoin On Track For $92,000 ‘Bounce’ In 3 Months, Analyst Predicts Price forecast for the altcoin predicts significant increase in the next few months. A strong upswing could propel the SUI to soar by 245% in the following three months. The price chart of SUI shows a sequence of higher highs and lower lows, which confirms this view—textbook evidence of optimistic momentum. SUI has gradually climbed from a low of $0.60 early this year, passing through several resistance zones along the way. Bullish Trend Signals Strength SUI’s price movement indicates that bullish sentiment is gathering steam. The token’s capacity to breach resistance zones points to perhaps more fuel left for the rally. Market observers are closely monitoring the next significant resistance level at $1.2047. Should SUI exceed this barrier, the following targets should lie between $1.50 and $1.80. While the support held high at $1.125, a firmer layer of support is observed at $1.045. The battle is on between the bulls and the bears, but the momentum seems to be on the side of the bulls. What would be the final test is whether they can push SUI past these resistance levels to trigger another round of buying. Volume And Open Interest On The Rise Supporting the bullish outlook is the increase in volume and open interest. Data from Coinglass shows the trading volume of SUI has risen 3.25% to $1.83 billion while open interest is up 11.85% at $331 million. This rising trade volume indicates growing interest in this token,. With the increasing engagement, people seem to have big confidence in the short-term prospects of SUI. With these uptrends, the market sentiment is going strongly on a roll to sustain this rally. Technical signals and trading activities are showing good numbers for SUI bulls. Price Predictions Show Optimism The three-month prediction on price for SUI is quite optimistic. Analysts predict the coin rising 245.86% over the next three months. This would signify a massive rise from its present levels, indicating important momentum to be seen within the market and investors. Further ahead, the six-month projection is estimated to increase by 180.47% while the one-year outlook will hike by 166.62%. Related Reading: The Sandbox (SAND) Sets Sights On 1,111% Growth Amid Crypto Market Pressures These numbers suggest that SUI might continue posting steady gains in the medium and long run, despite being traded at 228% below estimates in the next month, suggesting optimism is still around it. Investors are waiting and on the lookout for when SUI will cross past these key levels, which may unlock and open up better prospects for the future. The coin is drawing further attention as it moves with bullish technical signals coupled with increasing volume and positive price forecasts. It may be about to embark on a protracted rally considering the current position of the token, where it has managed to breach the strong resistance levels of around $0.016. Featured image from Chainwire, chart from TradingView
Bitcoin’s rally above $60,000 could trigger buying in FET, SUI, AAVE, INJ and other altcoins.
SUI outperforms the bulk of the crypto market with a strong double-digit gain, but is the rally sustainable?
SUI is gearing up for a critical move as bullish momentum builds, setting its sights on the $1.16 resistance level. After a period of consolidation, buyers are showing renewed interest, driving the price higher and sparking hopes of a potential breakout. However, the question remains: can the bulls muster enough strength to overcome this key barrier, or will the $1.16 ceiling hold firm and stall further upside? This analysis explores whether SUI’s bulls have the momentum to break through the critical $1.16 resistance level. We’ll examine key technical indicators, market trends, and potential scenarios to determine if SUI can sustain its recent upward movement or if it will face another setback. Bullish Indicators: Are The Stars Aligning For A Break? On the 4-hour chart, SUI is showing strong positive momentum as it trades above the 100-day Simple Moving Average (SMA). The printing of multiple bullish candlesticks highlights solid buying interest and favorable market sentiment, indicating that a break above the $1.16 level could be on the horizon. Additionally, the Relative Strength Index (RSI) on the 4-hour chart has climbed above the 50% mark and is currently at 69%. This upward movement suggests that upbeat momentum is strengthening, indicating that buying pressure is increasing. As the RSI approaches overbought territory, it may signal that a breakout could be imminent, with the potential for the price to push higher if the current trend continues. Related Reading: SUI Crashes 23% As September Unleashes Market Panic—Is A Comeback Possible? Technical analysis on the 1-day chart shows that SUI is also making a bullish move toward the $1.18 resistance level after the short-term pullback, highlighted by the formation of a hammer candlestick. Furthermore, the price is trading above the 100-day SMA, reinforcing the positive market sentiment, with buyers potentially driving the price higher for a potential breakout. Finally, the RSI signal line on the 1-day chart is trending above the 50% mark, currently at 64%. This suggests that SUI is still experiencing bullish pressure, with the potential for buyers to maintain their dominance and push the price higher. Critical Levels To Watch: Support And Resistance Zones For SUI SUI is approaching a key level that could determine its next move. A breakout above the $1.16 resistance level could signal a promising trend and open the path to higher targets, such as $1.44 and its all-time high of $2.18. Related Reading: SUI Soars 50%, Analyst Eyes 190% Price Rally – Details If the price is rejected at this level, SUI could find support near $0.8411. Should it fall below this support, the next potential stop might be the $0.3550 level, with further declines possibly leading to the exploration of additional key support zones. SUI was trading at approximately $1.02 at the time of writing, reflecting a 15.84% increase. The cryptocurrency has a market capitalization of over $2.7 billion and a trading volume of $418 million. Over the past 24 hours, its market cap and trading volume have increased by 15.75% and 55.47%, respectively. Featured image from LinkedIn, chart from Tradingview.com
ZachXBT identifies gaps in block explorer quality across several L1 blockchains, urging significant improvements.
Mysten Labs’ slated handheld gaming device, SuiPlay0X1, is now taking preorders at $599 a pop with deliveries expected next year.
Over the past seven days, Sui (SUI) has emerged as the standout performer in the crypto market, recording an massive 78% increase in its price. This surge positions SUI as the leader among the top 100 cryptocurrencies by market capitalization, significantly outperforming its peers, Helium (HNT) with a 60% increase and Bittensor (TAO) at 50%. Why Is SUI Up Over The Past Week? Andrew Kang, the founder of Mechanism Capital, provided insights into the SUI’s recent success in a series of posts on X. Kang suggested that the bullish trend could be attributed to several factors including a notable endorsement from influential figures, substantial over-the-counter (OTC) bids, robust holdership even after significant token unlocks, and a recent technical upgrade that could pave the way for innovative applications on the SUI platform. Related Reading: SUI Explodes 30% After Crypto Market Shows Signs Of Life “No knowledge of anything actually happening but combination of the below leading me to bet that there’s some interesting developments upcoming for SUI,” Kang posted. He listed several indicators supporting his optimistic outlook: “1. Raoul Pal shill thread while he sits on advisory board 2. Large OTC bids 3. Relatively strong holdership through big unlocks 4. Aggressive price action with no pullback 5. Big recent performance upgrade with Mysiceti potentially allowing for interesting new apps.” These points collectively hint at a buoyant market sentiment and substantial backing from influential market players. In a subsequent post, Kang touched on the promotional strategies surrounding SUI, noting, “Many people commenting that they are giving grants to people to shill. If true, this is bullish.” Related Reading: Crypto Scam? PolitiFi Token RTR Plummets 95% After Trump Family Denies Link The aforementioned Raoul Pal, founder/CEO of Global Macro Investor and RealVision and member of the advisory board of the Sui Foundation, recently praised SUI as a “groundbreaking ultra-fast L1, super efficient, full blockchain ecosystem” developed from the remnants of Meta’s Diem project, aimed at scaling to accommodate billions of users transitioning from Web2 to Web3 technologies. From a technical perspective, he added: “SUI is starting to look very interesting from a price perspective, although still early and unconfirmed, it is showing signs of breaking out against most tokens,” Pal noted. This includes comparisons against Aptos (another MOVE language L1 project), Avalanche (AVAX), Tia (TIA), Near Protocol (NEAR), Bitcoin (BTC), and Solana (SOL).” The week also saw institutional support further bolstering SUI’s market position. Grayscale, a leading digital currency asset manager, announced the introduction of the Grayscale Sui Trust. This new fund is solely dedicated to SUI, providing accredited individual and institutional investors with a structured vehicle for investing in this rising cryptocurrency. “We are excited to add Bittensor and Sui to our product suite, and believe Sui is redefining the smart contract blockchain,” stated Rayhaneh Sharif-Askary, Grayscale’s head of product and research. At press time, SUI traded at $0.9149. Featured image from Chainwire, chart from TradingView.com
Due to organic, "market-generated" growth, the Oracle solution could witness another tenfold increase in trading volume.
A closer look at how Sui’s object-centric model and the Move language can improve blockchain scalability and smart contract development.
Sui partners with Google Cloud to enhance Web3 with security, AI tools, and scalable infrastructure for a seamless developer experience.
The post Sui partners with Google Cloud to accelerate Web3 and AI integration appeared first on Crypto Briefing.
Sui, the layer 1 blockchain built by a group of former Meta (META) employees, has experienced a cascade of inflows this month in a spike that has seen it overtake Cardano, Near and Aptos in terms of total value locked (TVL).
Developers on Sui are building products that people are using to address real-world challenges, according to Greg Siourounis, Sui's managing director.