Ethereum

Flow

Value

Coin

<ul class="wp-block-list">
 <li>SUI’s price has climbed over 50% in a week, showcasing strong market interest.</li>
 <li>SUI chain’s total value locked reaches a record high of $921.37 million.</li>
 <li>The altcoin’s open interest has reached new highs since its launch, indicating strong market participation.</li>
</ul>
The native cryptocurrency of the SUI layer one blockchain is gaining momentum, approaching its previous all-time high of $2.18—recorded during the March bull run. Over the last 24 hours, SUI displayed a significant uptick of over 13%, climbing from a low of $1.43 to a high of $1.64 before stabilizing at around $1.60.
In the past week alone, SUI has surged more than 51%, with daily trading volume skyrocketing by 123% to reach approximately $902 million. This bullish trend began on September 17 and has been fueled by the <a href="https://thenewscrypto.com/sui-networks-sui-token-jumps-over-40-post-usdc-integration/" target="_blank" rel="noopener noreferrer nofollow">announcement</a> from Circle—the company behind USD Coin (USDC)—regarding its upcoming launches on the Sui Network, including a Cross-Chain Transfer Protocol (CCTP).
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="904" height="374" src="https://thenewscrypto.com/wp-content/uploads/2024/09/image-61.png" alt="" class="wp-image-108695" srcset="https://thenewscrypto.com/wp-content/uploads/2024/09/image-61.png 904w, https://thenewscrypto.com/wp-content/uploads/2024/09/image-61-300x124.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/09/image-61-768x318.png 768w" sizes="(max-width: 904px) 100vw, 904px">
 <figcaption class="wp-element-caption">Total Value Locked (TVL) (Source: <a href="https://defillama.com/chain/Sui" target="_blank" rel="noopener noreferrer nofollow">DefiLlama</a>)
 </figcaption>
 </figure>
</div>
Further, the launch of Grayscale Sui Trust has also triggered the altcoin’s price rally. Currently, SUI Total Value Locked (TVL) recorded a historic high of $921.37 million, positioning it as the eighth-largest chain in terms of TVL—an increase of 3,285% over the past year.
Additionally, open interest for SUI has reached an all-time high of $461.54 million, showing a 905% rise. These developments indicate a strong bullish sentiment surrounding SUI.&nbsp;
<h3 class="wp-block-heading" id="h-sui-set-to-resume-its-uptrend">SUI Set to Resume Its Uptrend?</h3>
The 4-hour chart shows that the bulls are trying to propel the price above the $1.65 resistance. If the altcoin succeeds, it could resume the uptrend with the next target objective of $1.75; it acted as a key resistance point before the previous all-time high.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="547" src="https://thenewscrypto.com/wp-content/uploads/2024/09/image-62-1024x547.png" alt="" class="wp-image-108696" srcset="https://thenewscrypto.com/wp-content/uploads/2024/09/image-62-1024x547.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/09/image-62-300x160.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/09/image-62-768x411.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/09/image-62.png 1300w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">SUI Price Chart (Source: <a href="https://in.tradingview.com/symbols/SUIUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
Furthermore, <a href="https://thenewscrypto.com/sui-sui-price-prediction/" rel="noopener noreferrer nofollow">technical indicators</a> support this positive outlook, with the MACD stalling above the signal line and the Chaikin Money Flow (CMF) at 0.26, suggesting healthy market buying pressure.
However, if cryptocurrency price dips below the 20-day Exponential Moving Average (EMA), it could trigger a correction down to $1.42 or even further to $1.29. This level is particularly important, as a drop below it may open the door to even lower prices around $1.18.&nbsp;
Historically, SUI has showcased a positive trend, regaining momentum after similar corrections, making this a critical time to watch for potential new highs.
Highlighted Crypto News Today
<a href="https://thenewscrypto.com/is-ethereum-poised-to-break-through-the-2-7k-barrier/" target="_blank" rel="noopener noreferrer nofollow">Is Ethereum Poised to Break Through the $2.7K Barrier?</a>

Are Bulls Taking Control as SUI Hits All-Time High in These Levels?

목차

TheNewsCrypto

2024년 9월 23일에 게재된 다른 기사

Memecoins: A Risky Asset Class With Extraordinary Profit Potential

Coinpedia Fintech News

From Bitcoins $200 to Seven Figures: This Underdog Coin Could Be the Next Crypto BreakOut!

FLOKI Completes $CAT Airdrop, But an Error Leaves Some Users Tokenless

XRP Aims at Resistance Levels With Potential Breakout Ahead

Celestia Foundation secures $100m in new fundraising

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!