SUI soars 60%, just one step away from its all-time high? The driving force behind this is not just ETFs
The L1 public chain SUI has surged by more than 60% in the past week, breaking through the high point in nearly a month. It is currently approaching $3.4, just one step away from the January high of $5.3. Can the new high be reached as expected?
There's more than just speculative sentiment behind the bullish sentiment.
📌 Three major positive factors are resonating:
1️⃣ ETF expectations reignited:
VanEck and Grayscale have successively launched SUI trust products. Although they are currently limited to qualified investors, combined with the layout of 21Shares, it is enough to become the strongest catalyst in the short term.
2️⃣ On-chain DeFi has seen a significant recovery:
In the past week, TVL has surged by 40% and has now exceeded US$1.63 billion. The supply of stablecoins has reached a new high of US$879 million, with the main force flowing into USDC. The DeFi lending and stablecoin system is expanding rapidly.
3️⃣ User activity continues to grow:
SUI's daily active addresses are stable at 1.5-2.5 million, with an impressive ability to attract cross-chain inflows of over US$125 million, of which stablecoins amount to as much as US$115 million.
SUI is not just another L1. It is accelerating its challenge to Solana with its model of low Gas, fast settlement + BTC asset ecosystem + stablecoin bridge.
🔍 The key variable still lies in whether ETFs are actually liberalized and the ecosystem develops sustainably.
But one thing is certain: SUI is not a game of passing the parcel at the moment, but an amplifier of the real strengthening of fundamentals.
