The price of Sui (SUI) has been rising due to several key factors:
Investor confidence: The launch of the Grayscale SUI Trust has allowed more investors to access SUI, increasing demand.
New partnerships: SUI has partnered with xPortal and xMoney to issue a virtual Mastercard, making it easier to use for payments in Europe.
Increase in total value locked (TVL): The Sui network has surpassed $1.65 billion in TVL, indicating growth in its adoption.
Increase in trading volume: Decentralized exchanges on Sui have seen a 177% increase in volume, reaching $599 million in the last week.
Break of technical resistance: SUI broke a descending wedge pattern, which pushed its price to new levels.
