SUI Token Surges 10.83% as TVL Hits $2.2B and Trading Volume Soars 95% on Binance

SUIUSDT has experienced a notable price increase of 10.83% over the past 24 hours, with the current price at 3.8763 USDT on Binance. This price surge is primarily attributed to heightened network activity, as evidenced by the Sui blockchain’s Total Value Locked (TVL) reaching a new high of $2.20 billion and a significant rise in Open Interest to $1.73 billion, reflecting increased optimism among traders. The surge in trading volume—up 95% overnight—has further supported the upward momentum, alongside positive technical indicators and recent resistance level breakthroughs.

Currently, SUIUSDT is trading near its 24-hour high, with strong market capitalization and trading volume positioning it among the top 15 cryptocurrencies. The asset’s strong performance is driven by robust DeFi activity, increased user engagement, and favorable technical signals, although some analysts note that overbought conditions could lead to future corrections.