Positive news difficult to change weakness; will SUI maintain consolidation in the short term or continue to test lower levels?
$SUI Recently, there has been strong growth performance on the fundamentals, along with highly anticipated positive news. Data shows that the Sui network ecosystem is developing rapidly by the end of 2024, with the previous quarter's project market value and on-chain transaction volume both achieving triple-digit growth. Currently, SUI's market value remains in the top 20 of global cryptocurrencies, with a total locked value (TVL) in on-chain DeFi of about $1.283 billion, ranking among the top ten in the industry. On March 6, the Sui Foundation announced a strategic partnership with the decentralized finance platform World Liberty Financial (WLFI), incorporating SUI into WLFI's 'macro strategy' reserve pool to jointly promote DeFi product development. This news has sparked discussion due to WLFI's association with former U.S. President Trump's family—its board members include Eric Trump and others. Stimulated by this, SUI's price surged nearly 12% close to $3 on that day, ultimately retreating to around $2.85, with the increase narrowing to about 5.7%.
