SUI Price Hits New All-Time High: Possible Reasons
SUI's value has exploded by almost 100% in the last 30 days.
Keep up with what's happening in the crypto world in real-time.
SUI's value has exploded by almost 100% in the last 30 days.
Crypto Price Prediction: The cryptocurrency market has showcased notable resilience to the recent sell-off which plunged the majority of major crypto coins in the correction phase. With renewed buying pressure among traders, the Bitcoin price is back above $43000, bolstering altcoins to regain their lost ground.
The remarkable increase in the SUI token's price is primarily driven by its Total Value Locked (TVL), which has experienced substantial growth. Conversely, the notable surge in the MINA token's price can be attributed to its ongoing reversal.
In a stunning comeback, the price of Sui token has soared to new heights, painting an impressive picture in the cryptocurrency market. Reaching an impressive $1.61 on the back of a solid 50% weekly rally on Tuesday – its highest point since May 3rd of the previous year – Sui has proven to be one of the standout performers of 2024.
The crypto prices today indicate a complete positive shift since Bitcoin (BTC) has now surpassed the $43,000 mark while several major altcoins are rallying. In addition, Ethereum (ETH), the second-largest crypto by market cap, witnessed a noteworthy upswing today.
SUI's token price soared to a new high of $1.58 while TVL on SUI tops $411, surpassing Coinbase's Base and Cardano.
TL;DR Unstoppable Token Growth: Sui has seen a 350% increase in its native token, reaching $1.46 in just three months, standing out in the market.
Sui's native token, SUI, has experienced a remarkable nearly 350% increase over the past three months.
Crypto Price Prediction: The cryptocurrency market commenced the new week with stability, as several major digital currencies aimed to build upon the rebound observed last week. Bitcoin, the leading cryptocurrency, is currently experiencing a 0.61% increase, maintaining its position above the $42,000 threshold.
Bitcoin price is exploring the $38,000 to $49,000 range, opening the door for SOL, AVAX, RNDR and SUI to possibly move higher.
The week ahead is expected to bring further developments in the cryptocurrency space, with anticipation surrounding updates on the GBTC for insights into market sentiment.
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Altcoins to Buy: The cryptocurrency market is likely to conclude the week with bullish sentiment, following the Bitcoin price recovery from a sharp sell-off and its stable performance above the $40,000 mark. This resilience has provided a foundation for most major altcoins, which have found robust support, sparking a fresh relief rally across the market.
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The global market capitalization has been stuck around $1.55 trillion for the past few days, as no major price movement has been witnessed. Despite the volume remaining within an average range, the top 10 tokens have failed to record an adequate recovery.
Over 10 decentralized applications (dApps) in the Sui ecosystem have integrated zkLogin.
The total value locked (TVL) on the Sui blockchain has jumped by around 82% over the past month to over $358 million.
Sui price surged almost 11% on Wednesday while maintaining a 24-hour range between $1.12 and $1.31. Sui token has increased by almost 60% in the last two weeks, based on CoinGecko analysis.
Mysten Labs partners with Alibaba Cloud to provide more resources for developers using Move language, spurring 20% price jump for SUI token.
SUI price prediction: On Wednesday, SUI, a token developed by Mysten Labs, emerged as the top performer amidst a broader market downturn, registering a notable 4% increase within the day. This uptick provides a suitable follow to the recent rebound from the $1.03 support level, with its price currently standing at $1.26.
SUI impressed today with its performance, but will it be enough? Key Support levels: $1 Key Resistance levels: $1.4, $2 1.
Mysten Labs collaborates with Alibaba Cloud to enhance the Sui blockchain ecosystem, introducing AI-assisted development tools, educational programs, and global infrastructural support.
The Bitcoin price is undergoing a roller coaster ride, struggling to reclaim levels above $40,000. As the token dropped below the crucial levels, traders jumped in to accumulate, raising the trading volume by over 11% and causing a marginal rise in market capitalisation, which has dumped to $1.55 billion.