SUI price drags despite booming TVL, can it catch up?

Momentum around the SUI token is cooling even as the broader ecosystem continues to thrive.

SUI trades at $3.79, down 4.5% in 24 hours despite record $2.28B TVL.

Institutional bets and ETF speculation continue to fuel long-term optimism.

Price remains above key EMAs, showing bullish trend structure intact.

According to DeFiLlama, Sui’s Total Value Locked (TVL) surged to $2.28 billion this week, its highest level on record. This marks an approximate 40% climb since the year started, and a strong triple-digit recovery from its lowest point of $1.02 billion earlier in March.

The SUI

-4.33%

Sui token was similarly in an uptrend, briefly reclaiming $4.44 after months of being stuck below $3. But that rally has cooled. Now trading at $3.79, SUI is down about 4.5% in the past 24 hours, putting it in the red for the week.

Despite the pullback, broader factors paint a bullish outlook for the native token.