Sui Gains Nearly 10% as Network Expansion and BTC Liquidity Fuel Momentum
Sui (SUI) surged close to 10% over the past 24 hours, rising from $2.94 to a session high of $3.40, as recent ecosystem developments and increased trading activity sparked a bullish breakout.
The token traded in a volatile range between $2.94 and $3.24, marking an 11.5% intraday swing, according to CoinDesk Research. Significant volume spikes around $2.99 and $3.10 pointed to strong institutional interest, helping solidify those levels as new support zones.
SUI faced resistance near $3.27, where momentum stalled amid higher volume. However, prices stabilized above $3.20 into the session’s close, suggesting consolidation and possible accumulation ahead of another move higher.
Fueling the rally was the launch of Threshold Network’s tBTC on the Sui blockchain earlier this week. The ERC-20 token, backed 1:1 by bitcoin, could bring more than $500 million in BTC liquidity to the Sui ecosystem, expanding its DeFi utility and long-term growth potential.
With daily trading volumes up 135%, Sui stands among the top five most active layer-1 blockchains, far outpacing the broader crypto market’s 52% average increase, according to Coinbase. Over the last 12 months, SUI has gained more than 340%, outperforming the CoinDesk 20 Index’s modest 2.8% rise.
