SUI Token Surges 10% as Binance Futures Introduces 50x Leverage and Open Interest Hits $1.59B

SUIUSDT has experienced a notable 10.31% price increase over the past 24 hours, rising from 3.4169 to 3.7691 on Binance. This upward movement is primarily attributed to a bullish breakout from an inverse head-and-shoulders pattern, heightened analyst optimism, and increased futures activity following Binance Futures’ introduction of up to 50x leverage for SUIUSDT perpetual contracts. Additional drivers include a significant 12% jump in open interest, surpassing $1.59 billion, and growing network adoption, with SUI accounts exceeding 225 million. Positive sentiment is further supported by recent ecosystem developments such as the launch of Cetus Pro and Nasdaq’s review of a 21Shares SUI ETF.

Currently, SUIUSDT trades at 3.7691 with a strong 24-hour trading volume surge and a market capitalization around $12 billion, reflecting increased activity and bullish momentum in the broader cryptocurrency market.