Check out the analysis and the catalysts behind the rise of SUI! 🚀
The price of $SUI skyrocketed, trading at US$ 2.58 with daily gains of 4.9% and weekly gains of 12.6% (data from October 2). The token is riding the positive wave of the market, with BTC above US$ 121K and ETH surpassing US$ 4.5K. 📈
👀 What is driving SUI?
* Optimistic Market: Broad recovery, combined with macro factors (U.S. government shutdown and expectations of rate cuts by the Fed).
* Major Native News: SUI is about to launch two new stablecoins: suiUSDe (yield-bearing, backed by Ethena) and USDi (linked to BlackRock's tokenized fund BUIDL). The goal is to boost the network's liquidity! 💧
* Strong Ecosystem Metrics: TVL at a historical high of US$ 2.388 billion, and an increase in the trading volume of DEXs. Open interest (OI) also grew from US$ 1.68 billion to US$ 1.83 billion. 💪
Despite the rise, SUI is still 33% below its all-time high ($5.35). Keep an eye on the levels:
* Resistances: US$ 3.59 | US$ 3.71 | US$ 4.00
* Supports: US$ 3.53 | US$ 3.39 | US$ 3.21
What are your expectations for SUI after the launch of the new stablecoins? Comment below! 👇