📈 Market Dynamics and Technical Analysis
SUI Price: As of May 7, 2025, the SUI token is trading at around $3.40, showing a 1.7% increase over the day. Technical analysis indicates the formation of a 'bullish flag', which may foreshadow further price growth to $5 upon breaking resistance.
Total Value Locked (TVL): Exceeded $1.74 billion, indicating increasing investor confidence and activity in the DeFi segment of the network.
🤝 Strategic Partnerships and Institutional Support
Collaboration with 21Shares: On May 1, 2025, 21Shares, a leading provider of cryptocurrency investment products, announced a strategic partnership with Sui. The goal is to expand global access to the Sui network, particularly in the US market. This indicates a growing institutional interest in the Sui ecosystem.
🎉 Network Anniversary and Increased Activity
Second anniversary of Sui Network: On May 4, 2025, the Sui network celebrated its second anniversary. In connection with this, the following was observed:
SUI price increased by 4.2% over the last 24 hours.
Increase in trading volume by 18.5%, to $320 million.
Increase in active addresses by 12%, to 245,000.
Increase in staked tokens by 9%, to 2.1 billion.
⚠️ Risks associated with token unlocking
Token unlocking of $334 million: On May 1, 2025, SUI tokens worth $334.63 million were unlocked. Historically, similar events have put pressure on the token's price. However, the current positive market sentiment may mitigate potential negative impact.
🔮 Forecasts and Prospects
Price Forecasts: Analysts predict that the price of SUI could reach $5–$6.25 by the end of 2025, provided that the positive trend and overall growth of the cryptocurrency market continue.
Positioning among competitors: Sui is seen as one of the promising blockchains alongside projects like Ondo and Aptos, thanks to its technological advantages and active ecosystem development.