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SUI price shows mixed signals after its meteoric rise, currently positioning just 6.5% below its all-time high. The coin's impressive 97.10% surge in the last 30 days has been supported by significant growth in its DeFi ecosystem, with total value locked reaching $1.75 billion.
SUI, the native token of the Sui Network, is making waves in the cryptocurrency landscape with its impressive performance while major cryptocurrencies appear to be struggling. Today, December 3, 2024, SUI has surged with an impressive 14% upside momentum, breaking out of one of the most highly anticipated bullish price action patterns.
Grand Cayman, Cayman Islands, 3rd December 2024, Chainwire
Sui price had been trading sideways for the last six days, and the breakout signifies its rising demand as utility grows.
SUI's next price move could be dependent on a few key things.
Sui (SUI) exchange outflows over the last three days have increased, suggesting that the altcoin's recent decline may not last. As of this writing, SUI's price is $3.23.
Historically, December has been a strong month for the crypto market, and December 2024 could follow that trend, particularly for altcoins. BeInCrypto has identified key altcoins to watch as the year comes to a close.
SUI, the native token of the Sui blockchain network, has captured the attention of traders and investors in the cryptocurrency market. After a strong performance in recent weeks, the token has shown promise for even greater gains, with experts predicting a potential rally of up to 60%.
SUI could soar by 60% to the $5.70 level if it closes a daily candle above the $3.5 level.
The SUI token is currently in the spotlight as it shows signs of breaking out after recent price drops. Following a 14% decline from its all-time high (ATH), the token appears to be reviving with a strong upward momentum.
If the price of Bitcoin ($BTC) hits $150,000, one analyst believes Sui Network's native $SUI coin could hit a potential high of $28. This is more than 7X its all-time high (ATH) of $3.92, posted on November 17 this year. The bullish forecast was tweeted by “madness.sui” (X handle @lfgmadness).
This November, many altcoins have shown that they are ready to challenge Bitcoin's (BTC) dominance. As a result, some of these cryptocurrency are part of the top trending assets.
As the bull market churns on, SUI appears to be following in the footsteps of Solana, bolstered by recent meme coin adoption. The post Meme Coin Market Cap on SUI is Up 30% in 24 Hours, Is ‘SUI Season' on the Horizon? appeared first on Cryptonews.
After a brief sell-off, the markets have begun to range back within the bullish range, triggering a fine rebound. In the meantime, the SUI price quickly triggered a strong rebound, bringing the token back within the bullish range.
Data from analytics firm CoinGecko shows that Layer-1 native tokens grew by 7,000% in 2024. While major projects like Bitcoin and Ethereum recorded significant gains, other tokens saw notable growth in niche markets.
The Sui Network (SUI) will unlock over $200 million in tokens this Sunday, December 1, as part of its schedule. This will be Sui's largest cliff unlock (in nominal value) to date, creating significant supply inflation and dilution, affecting investors.
The Telegram-based game MemeFi launched its MEMEFI token on the Sui network on Nov. 22 at 1:00 p.m. UTC.
SUI Network's rise is powered by DeFi integrations, strategic cross-chain partnerships, and strong token demand.
Story Highlights The Sui price has dropped by 13.96% from its ATH of $3.93 in 10 days. Technical indicators record increased bearish sentiment, hinting at higher selling pressure. A potential bullish reversal could push the price toward its upper target price of $5.
Based on data as of Nov. 26, the Altcoin Season Index (ASI) hosted on blockchaincenter.net is picking up steam, with standout performances from stellar (XLM), sui token (SUI), and mantra (OM), all posting impressive triple-digit increases.
Ambrus Studio, under CEO Johnson Yeh, is pioneering a Web3 gaming model with Sui to monetize and educate on climate change. Their game, E4C: Final Salvation, targets emerging markets.
The Router Chain platform has added the Sui network to its growing list of cross-chain ecosystems, enabling users to seamlessly move tokens between Sui and EVM chains.
Thanks to a new feature called Babylon staking, Sui is tapping into Bitcoin's massive $1.9 trillion market. This opens the door for DeFi activities like lending, borrowing, and more.
Babylon Labs and Lombard Protocol have jointly unveiled a strategic initiative aimed at integrating Bitcoin with Sui, the Layer 1 blockchain and smart contract platform. This collaboration seeks to onboard bitcoin liquidity into the Sui ecosystem, enhancing decentralized finance (defi) with LBTC as a core collateral asset.
