1. Current Performance of SUI:
- The SUI token has risen by 3.85% in the last 24 hours, reaching $3.11, with a peak of $3.1554 during the trading session.
- Price movement shows an upward structure with strong support above the $3.09 level, indicating the possibility of continued positive momentum.
2. Key Growth Indicators:
- The total value locked (TVL) in the SUI network surged to $1.8 billion, ranking third among non-Ethereum-compatible chains (EVM).
- The supply of stablecoins on the network has increased from $400 million in January to $1.2 billion currently, reflecting a rise in adoption and liquidity.
- The SuiLend protocol (lending platform) experienced a 90% growth in TVL over the past month, reaching $600 million.
3. Technical Outlook:
- Analyst Michael van de Poppe identified the $3.30 level as a critical liquidity zone. If the price breaks this level, SUI may witness a strong upward breakout towards new all-time highs.
- Significant buying interest was noted at the $3.12 level, with higher daily lows forming, supporting the continuation of the upward trend.
4. Supporting Factors:
- The adoption of digital wallets on the SUI network has accelerated, especially after support from Phantom and the launch of the Slush wallet.
- SUI is considered a strong competitor to Solana according to analyses by Van de Poppe, with expectations for sustained performance over the next 12–24 months.
Summary:
With strong fundamentals and positive technical signals, SUI seems ready for a new bullish wave if it breaks the $3.30 barrier. Traders are advised to monitor trading volume and support levels to confirm the continuation of the trend.