SUI Token Surges 6.7% as Mysticeti Protocol Fuels Record $1.4B Volume and Ecosystem Growth

SUIUSDT experienced a 6.71% price increase over the past 24 hours, rising from 2.4096 to 2.5713 according to Binance data. The price change is primarily attributed to heightened trading activity, with 24-hour volumes surging between $1.13 billion and $1.42 billion, reflecting a 129% increase. This spike in volume follows recent technical advancements on the Sui blockchain, including the deployment of the Mysticeti consensus protocol, which reduced transaction finality and positioned Sui as one of the fastest blockchains. Additionally, ecosystem growth—such as a sharp rise in total value locked (TVL) and increased cross-chain activity—has supported renewed investor interest despite recent volatility and a scheduled token unlock of 44 million SUI on July 1, 2024. Currently, SUIUSDT trades at 2.5713 with a market capitalization of $8.54 billion, ranking #13 by market cap, and maintains robust trading activity amid ongoing market fluctuations.