Sui Price Prediction: SUI Soars 11% As TVL Surpasses $900M, But Analysts Say Buy This New Crypto For The Next Bull Run
The Sui price has surged 11% in the last 24 hours to trade at $1.58 as of 3:25 a.m. EST on a 135% pump in trading volume to $1.11 billion. The price increase coincides with growing demand for the Sui Network, a Layer-1 blockchain often referred to as a ”Solana-killer” within the decentralized finance (DeFi) market. Over the past month, the Sui Network has seen a resurgence in network activity due to the increasing DeFi interest on the platform. According to official reports, the blockchain has reached a significant milestone, surpassing $900 million in total value locked (TVL), earning it the 8th spot among all blockchain networks. Sui Price Spikes Above Bearish Channel The SUI/USDT pair on the daily timeframe shows a significant shift in price momentum. For several months, SUI has been trading within a bearish channel, with lower highs and lows indicating sustained downward pressure. This channel ended in mid-August when the price found support near the 0.78 Fibon...