After the airdrop of the Walrus main account on the Sui system

Why has the price of the cryptocurrency SUI increased today? first appeared on Coinpedia Fintech News

The biggest competitor of Solana and the native token of the Sui blockchain (SUI) has surprised the cryptocurrency community with a massive jump of 72% in just one week.
$SUI According to Lookonchain, a popular blockchain analytics platform, there are three main reasons behind this strong price increase.
In addition to this, there is a growing rumor that Pokémon HOME may be collaborating with the Sui blockchain.
The increase in Total Value Locked on Sui
One of the biggest reasons behind the massive increase in Total Value Locked (TVL) on the Sui network. In a short period, Sui's TVL has increased by 41%, reaching 1.73 billion USD according to Defillama. This means that more users and developers are locking their funds into Sui's decentralized applications, trusting that the network will grow further.
The DEX trading volume is booming
Another key reason behind the SUI price jump is the increase in trading volume on decentralized exchanges (DEX) based on Sui. In the past week, trading volume has risen by 170%, reaching 599 million USD in just 24 hours.
This means that more people are buying and selling tokens on the network, which usually pushes prices higher.
Growth of Stablecoins on the network
And the third reason is the rapid development of stablecoins on Sui. In the past two months, the total value of stablecoins on the network has increased from 482 million USD to 879 million USD, a rise of 82%.
This shows that users are not only trading but also holding value and building trust in the system.