#MarketRebound
SUI continues to rise: the cryptocurrency increases by 32% driven by increased activity of meme coins on its network.
The SUI digital currency has recorded a notable increase of 31.8% in the past 24 hours, reaching a price of $2.94, amid a rise in daily trading volume which amounted to $2.3 billion, a 169% increase compared to the previous session. This rise continues a bullish wave that started a week ago, during which the currency's gains reached 41.4% over seven days.
This strong performance is attributed to the increasing activity in meme coins built on the SUI network, such as BLUB which rose by 60.8% in one day, and MIU which achieved a growth of 20%, in addition to LOFI which climbed by 13.8%.
In terms of infrastructure, the number of transactions on the SUI network has surpassed 500 million transactions, coinciding with a 7.05% increase in user adoption rates. The total value locked (TVL) has exceeded $1.5 billion, while the market capitalization of stablecoins on the network is close to $900 million.
SUI currently ranks 13th globally in terms of market capitalization, with a value of $9.3 billion, reflecting rapid growth in network adoption and its expansion in the digital asset market.
