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<p>The price of SUI has increased by more than 9% today after closing in red for the past three days. The price now looks like it is about to continue the broader bullish rally after bouncing off support at around $1.70.</p>
<p>This strong support level is one reason the price is moving up. However, there are also other positive on-chain metrics that are catalyzing this bullish run.</p>
<h2 class="wp-block-heading" id="heightened-interest-and-activities-within-the-sui-ecosystem">Heightened Interest and Activities Within the SUI Ecosystem</h2>
<p><a href="https://x.com/JoshuaOrhue_/status/1844463852085555483?t=bZuo5biJy_ei_fBuMXEXsg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Joshua Orhue,</a> known on Twitter as @JoshuaOrhue_, recently reported a significant development in the SUI ecosystem, stating, “BREAKING: 24 HOUR DEX TRADING VOLUME IN $SUI IS AT AN ALL TIME HIGH OF $221.3M.”</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/render-ai-token-price-could-rally-to-20-but-theres-a-catch/" target="_blank" rel="noopener noreferrer nofollow">RENDER AI Token Price Could Rally to $20, But There’s a Catch</a></em></strong></p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="663" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-393-1024x663.png" alt="" class="wp-image-565005" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-393-1024x663.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-393-300x194.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-393-767x496.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-393-1536x994.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-393-2048x1325.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-393-232x150.png 232w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-393-100x65.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-393-541x350.png 541w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-393-788x509.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-393.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>This surge in trading volume indicates heightened interest and activity among traders, which often correlates with price increases. A high trading volume can signify investor confidence and the potential for further upward movement.</p>
<p><a href="https://x.com/teddi_speaks/status/1844673730846319066?t=RSJfo2d-W1F7bNZefBfGXQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Additionally, King.sol noted </a>another impressive metric. According to him, SUI has clocked 746k daily transactions, surpassing Solana with lower fees and faster speed. This also came with no failed transactions. This points to SUI’s efficiency and reliability, which can attract more users and investors, thus driving the price higher.</p>
<p>In another tweet, King.sol added that a $10 billion market cap for $SUI isn’t far-fetched. He regards the blockchain as the fastest with user-friendly features and the <a href="https://suivision.xyz/statistics" target="_blank" rel="noopener noreferrer nofollow">highest daily transactions.</a></p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/heres-why-kaspa-kas-beats-bitcoin-btc/" target="_blank" rel="noopener noreferrer nofollow">Here’s Why Kaspa (KAS) Beats Bitcoin (BTC)</a></em></strong></p>
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   <p lang="en" dir="ltr">$10 billion Mcap for <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SUI</a> isnt far fetched. <br><br>Fastest blockchain <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <br>User friendly ecosystem <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <br>Most daily transactions processed <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <br>You can’t lose buying Sui at these levels <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/gK4pcyK8IV" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/gK4pcyK8IV</a></p>— King.sol <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1f6-1f1e6.png" alt="🇶🇦" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@teddi_speaks) <a href="https://twitter.com/teddi_speaks/status/1844675265047224631?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 11, 2024</a>
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<p>With SUI currently holding a market cap of $5 billion, the prospect of reaching a<a href="https://coinmarketcap.com/currencies/sui/" target="_blank" rel="noopener noreferrer nofollow"> $10 billion market cap </a>would represent a significant 2x increase. This optimistic outlook, coupled with the blockchain’s performance metrics, suggests that the momentum could continue, further boosting investor sentiment.</p>
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<p>The post <a href="https://captainaltcoin.com/why-is-sui-price-pumping/" rel="noopener noreferrer nofollow">Why Is SUI Price Pumping?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is SUI Price Pumping?

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