• Sui Network saw explosive growth in users, stablecoin liquidity, and dApp revenue.

  • Despite strong fundamentals, SUI price corrected from $4.00 to around $3.00.

  • Technical indicators show bearish momentum, but bulls fight to defend the $2.80 support zone.

The numbers are rising, but the price refuses to move. That’s the paradox around Sui Network. Traders watch millions pour into the chain, yet the SUI token behaves like it’s stuck in traffic. Frustration grows. Confusion spreads. Sui’s ecosystem expands daily, but price charts flash warning signs. So, what’s going on? Why does such an active blockchain struggle to reflect momentum in its market value?

https://twitter.com/johnmorganFL/status/1934072573546934375 Activity Skyrockets While Price Wobbles

Sui Network continues to gain ground in the DeFi space. Since April, total user accounts jumped from 124 million to nearly 209 million by June. That’s not growth—it’s a stampede. This trend proves that users keep onboarding without pause. Adoption grows weekly without signs of slowing. The stablecoin numbers say even more. Sui holds over $1.13 billion in stablecoin market cap. That figure beats NEAR, Sei, Berachain, Polkadot, and Cardano combined.

This liquidity surge places Sui at the top tier of Layer 1s. It commands attention. Revenue from top dApps reflects rising demand. In just 24 hours, Bluefin, Momentum, Navi, Haedal, and Scallop generated $77,000 in combined revenue. Users aren’t just arriving—they’re spending, trading, and building. Sui’s DeFi playground now rivals Solana in both speed and depth. Despite strong growth, SUI pulled back from $4.00 to hover around $3.00.

Price Faces a Psychological Wall

Technical analysis reveal the battle playing out. SUI dropped to a major demand area between $2.80 and $3.00. Bulls cling to this level, hoping to avoid a deeper slide. Rejection at $4.00 earlier in May triggered a slow fall. Resistance at $3.50 now looms large like a locked door. MACD readings offer no comfort. The histogram stays in the red. The MACD line trails the signal line, showing bears still in control.

Still, higher lows remain intact. That means the structure hasn't broken yet. Momentum may shift if $3.00 holds. Traders watch closely for bullish divergence on the MACD. If confirmed, that bounce could target $3.50 again. But one more failed attempt at $3.20 may open the path down to $2.50. The decision point lies close. Sui Network is walking like a giant but casts a small shadow in the market. For now.

The disconnect comes from doubt, not data. Many investors follow price—not activity. That mindset misses the forest for the trees. Momentum must shift. Confidence must return. Only then will price reflect Sui’s true weight. Until then, the chain keeps growing—quietly, powerfully, and patiently. The charts may ignore it today, but they can’t forever.