SUI Token Surges 6% as Mainnet Upgrade, DeFi Recovery, and $3B TVL Boost Market Confidence

SUIUSDT has experienced a 6.07% price increase over the past 24 hours, rising from a 24h open of $3.2069 to a current price of $3.4017 on Binance, with trading volume reaching $167.64 million and a market capitalization of $11.70 billion. The recent price uptick is primarily attributed to positive sentiment following the Sui blockchain’s mainnet upgrade to V1.49.2, the successful relaunch and compensation plan of the Cetus Protocol after a major exploit, and signs of recovery in Sui-based DeFi activity, including a 4.8% increase in total value locked (TVL) to $3.05 billion. Additional support comes from consistent positive funding rates, renewed investor confidence after the restoration of affected liquidity pools, and ongoing network growth highlighted by new DEX funding and stablecoin adoption. However, caution remains due to the recent SEC delay on the Canary SUI ETF and upcoming South Korean regulatory changes, which could impact access to SUI and other altcoins. Overall, SUI continues to trade strongly above the $3.00 level, reflecting a neutral to bullish outlook in the current market environment.