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Sui Network's TVL surpasses $900 million as its native token SUI experiences a significant price rise

Sui price has grown significant in the past 24 hours as the protocol's DeFi TVL jumped to a new high.

Solana-killer Layer 1 blockchain – Sui Network – is witnessing a strong demand within the decentralized finance (DeFi) market thereby triggering a strong recovery in the SUI price. Over the past month, SUI has gained a massive 60% moving all the way to $1.60 levels in the latest surge.

Bitcoin's rally to $64,000 increased traders' interest in altcoins like AVAX, SUI, TAO and AAVE.

The interest rate cut by the US Federal Reserve has been one of the biggest stories in the crypto space this week, with most large-cap assets making something of a recovery in the past few days. As a result, Sui (SUI) is one asset whose price performance has largely gone under the radar in the last seven days.

The cumulative liq levels delta was largely in favor of the bulls, but has slightly reduced in the past 24 hours as SUI pulled back from $1.57.

The recent announcement by the Federal Reserve to cut interest rates by 50 basis points has sent shockwaves through the market, especially among altcoins. The Fed rate cut has resulted in a significant surge in Bitcoin (BTC) and altcoin prices, with notable performances from Sui (SUI), Celestia (TIA), Fantom (FTM), Bittensor (TAO), and Sei (SEI).

Ripple (XRP) is on the verge of breaking the $0.60 mark, fueled by excitement around a possible spot ETF following Grayscale's latest XRP Trust launch. Meanwhile, Sui (SUI) has hit a six-month high after integrating USDC. IntelMarkets (INTL) is also gaining attention with its advanced AI trading tools and high-leverage options.

Sei (SEI) and Sui (SUI) have emerged as standout performers. Both tokens have experienced significant gains, with prices increasing over 20% as they begin the week on a bullish note.

Sui, a popular layer 1 network, has become one of the best-performing cryptocurrencies since August, soaring to a five-month high.

The SUI crypto token continues to dominate the 1st-page cryptocurrencies by outperforming every single project in terms of monthly return. Notably, the altcoin is currently trading at a discount of only 29.82% from its ATH, indicating increased price action.

SUI turned into one of the big gainers in the past few days, with hopes of repeating its peak above $2. The asset may feel pressure from the upcoming October 1 token unlock.

A widely followed crypto analyst says that one marquee artificial intelligence (AI) project is primed to skyrocket soon while updating his outlook on two smart contract platforms. In a new strategy session, crypto trader Altcoin Sherpa tells his 223,600 followers on the social media platform X that machine learning platform Fetch.

Sui's TVL hits $1 billion, raising speculation of a potential price rally beyond $1.38.

The company, famous for its low-cost movie theater subscription, is partnering with Sui. They plan to integrate USDC, a popular stablecoin, as a way for users to pay for their subscriptions.

TL;DR Explosive Gains: Sui has surged by 115% against Solana since August, significantly outperforming Solana's 6% gain against Ethereum. Technical Superiority: Sui boasts a theoretical maximum of 297,000 TPS, far exceeding Solana's 65,000 TPS, with real-world performance still leading.

The crypto market update for September 19, 2024 Asian trading hours sees Bitcoin break above $62,000. BTC price rose as traders cheered the US Federal Reserve's 0.5% interest rate cut – the first one since 2020. Most altcoins also traded higher, with Ethereum gaining to above $2,450.

The crypto market surged following the Federal Reserve's interest rate cut, with major cryptocurrencies experiencing rallies. However, the long-term outlook remains uncertain.

As the traders remain largely vigilant, the crypto markets rebound in no time following the Fed rate cuts, which surprised the financial markets. Bitcoin price reclaimed the crucial resistance at $62,000 and is approaching the crucial resistance at $62,500, which is considered an important milestone to keep up the bullish trend.

Macro guru and Real Vision CEO Raoul Pal is highlighting a layer-1 blockchain that he sees becoming a major force to reckon with.

The surge in Sui Network's TVL and SUI price indicates growing confidence and investment in its DeFi ecosystem, potentially driving further adoption. The post Sui Network TVL soars to record high, SUI price up 30% appeared first on Crypto Briefing.

Sui's technical capabilities and the upcoming release of a native gaming console could see the network eventually rival Solana, but tokenomics pose a looming threat.

Sui's technical capabilities and the upcoming release of a native gaming console could see the network eventually rival Solana, but tokenomics pose a looming threat.

As Bitcoin's (BTC) price crossed the crucial milestone of around $62k for the first time in September, following the high-impact news from the Federal Reserve, the attention on the altcoin market significantly increased in the past 24 hours.