Sui (SUI), the native token of the Sui blockchain, climbed nearly 10% in the past 24 hours, rising from $2.94 to a peak of $3.24. The rally reflects renewed investor confidence driven by multiple bullish catalysts and rising network adoption. The move highlights SUI’s growing relevance among Layer-1 protocols, as the token now consolidates above key support zones.
The token displayed a trading range of $0.34, reflecting 11.5% volatility during the period. Notable volume spikes at $2.99 and $3.10 acted as breakout confirmations, signaling strong institutional accumulation. These zones now serve as foundational support levels for the ongoing uptrend.
Bitcoin Liquidity Fuels Ecosystem Optimism
One of the primary drivers behind this breakout was the recent launch of tBTC (Threshold Bitcoin) on the Sui network. The token, which is a bitcoin-backed ERC-20 asset, has the potential to bring over $500 million in liquidity into the Sui ecosystem. This integration enhances the network’s DeFi capabilities and opens doors for advanced bitcoin-enabled decentralized applications.
The strategic addition of tBTC strengthens Sui’s appeal to both developers and institutional players, positioning the network as a strong contender in the Layer-1 race.
Technical Levels and Market Positioning
As the rally unfolded, critical resistance emerged near $3.27, where price briefly reversed amid heightened trading activity. However, support has stabilized around $3.20 to $3.21, suggesting accumulation and potential preparation for another leg upward.
The daily trading volume for SUI rose by 135%, sharply above the market-wide average of 52%, confirming robust interest and market momentum. These signals indicate that SUI could be poised for further gains if broader market conditions remain favorable.
https://www.coindesk.com/markets/2025/07/10/sui-rallies-nearly-10-in-bullish-breakout
SUI’s Long-Term Performance Remains Strong
Over the past 12 months, SUI has delivered a remarkable 340% return, significantly outperforming broader market benchmarks. In comparison, the general crypto market index has posted only a 2.8% gain during the same period. This underscores Sui’s strength as a top-performing asset and highlights continued investor confidence in its growth prospects.
Bullish Outlook Maintained
With a solid breakout backed by real adoption news and technical confirmation, SUI remains in bullish territory. Traders should monitor the $3.27 resistance and $3.20 support levels, as a sustained move above could open the path toward new yearly highs.
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.