$SUI (SUI) Price Analysis – Bullish Momentum Builds as New ATH Approaches

Sui (SUI) is making headlines as institutional investors pour in, driving a surge in price and network activity. After breaking out of a multi-week downtrend, SUI has rallied over 55% this week, reaching around $3.29 on Thursday, April 24, during late U.S. trading hours.

With a fully diluted valuation of $32.8B and a 24-hour volume of $3B, SUI is currently leading the top 20 crypto assets in bullish sentiment, especially after today’s 11% gain.

Key Metrics:

• Futures Open Interest (OI) up 21% in 24 hours to $1.29B (from $491M on March 11)

• Over $12.88M liquidated in leveraged trades, showing rising volatility

• Total Value Locked (TVL): ~$1.45B

• Stablecoin Market Cap: ~$865M

The network’s strong growth is fueled by strategic institutional investments, including from Space and Time and Grayscale Investments. Additionally, Sui launched the Sui Mastercard in partnership with xPortal, integrating spending, NFTs, staking, and dApps in one seamless wallet for over 2.5 million users.

From a technical standpoint, MACD has crossed above the signal line and RSI has breached the 70 level on the daily chart, hinting at a potential parabolic move ahead.

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