$SUI Surges Toward $4 as DeFi Activity Hits Record Levels
Sui ($SUI ) is making headlines after posting a nearly 12% gain on Monday, pushing the token closer to the key $4 resistance level. This latest rally reflects growing market enthusiasm, with both on-chain and derivatives metrics pointing to strong momentum.
One major catalyst for the surge is SUI's Total Value Locked (TVL) in decentralized finance, which has hit an all-time high of $2.20 billion. This record-setting figure signals heightened DeFi activity on the network, as TVL represents the total USD value of digital assets locked in smart contracts.
Adding to the bullish outlook, Open Interest in SUI futures has also climbed to $1.73 billion, suggesting increased participation and confidence from derivatives traders.
Technically, analysts say the setup remains bullish, with momentum building for a breakout above the $4 mark—potentially opening the door for extended gains if resistance is cleared.
