SUI token is attracting growing investor interest after rising 3.85% to $3.1110, backed by a strong technical setup and significant on-chain developments. With critical resistance approaching at $3.30, the token is being closely watched for a potential breakout to new highs.
Price Action Signals Uptrend
SUI surged from $2.9742 to $3.1554 within a 24-hour period, reflecting a 6.09% intraday move. The token broke above the $3.08 resistance level and quickly formed support near $3.09–$3.12, indicating a healthy trend reversal.
Volume exceeded 12 million units during early trading hours, confirming strong accumulation. A second breakout occurred at $3.12, where a sudden spike of over 1 million units in volume pushed the price further. By the end of the trading window, the asset closed in a bullish formation, showing higher lows and sustained buying interest.
TVL and Stablecoin Supply Support Fundamentals
Total Value Locked (TVL) in the Sui ecosystem has reached $1.8 billion, making it the third-largest among non-EVM chains. This is a major indicator of DeFi strength and user engagement.
The stablecoin supply has grown from $400 million in January to nearly $1.2 billion, signaling an expanding financial base on the network. This increase boosts the liquidity available across decentralized applications, which further strengthens SUI’s utility.
Protocol Activity and Wallet Growth Fuel Ecosystem Expansion
SUI’s lending platform, SuiLend, has seen 90% growth in TVL in the past 30 days, now crossing $600 million. Meanwhile, wallet adoption is rising rapidly due to the integration of major wallet providers and new rebranding efforts.
The number of active wallets continues to climb, showing broader retail and developer participation in the network.
$3.30: Key Level for Bulls
A clean breakout above $3.30 would likely trigger a new bullish leg, with increased institutional and retail participation. Analysts see this as a high-liquidity zone, and current price momentum shows a solid chance of breaching it.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.