The native token of the Sui blockchain has surged 15% over the past week, buoyed by investor enthusiasm following Lion Group Holding Ltd.’s (LGHL) announcement of a significant crypto treasury initiative.

As of Friday, SUI is trading at $3, marking a 4% gain in the last 24 hours, as momentum continues from news that Lion Group plans to purchase SUI tokens as part of a broader $600 million digital asset strategy unveiled on June 26.

The announcement sparked a notable rally in SUI’s price, with the token posting strong performance in recent sessions. According to CoinDesk Research’s technical analysis, SUI saw a decisive bullish breakout in the past 24 hours, establishing solid support around $2.87 early on Thursday before surging higher on substantial trading volume.

Sui’s blockchain has emerged as a key rival to Solana (SOL $146.46) in the Layer-1 space, achieving an impressive 54% increase in developer participation over the past two years—even as many other crypto networks grapple with declining developer activity, as highlighted in a recent report from Electric Capital.

SUI has also outperformed the broader crypto market this past week. While the CoinDesk 20 Index, a benchmark for major crypto assets, rose approximately 5% during the same period, SUI has delivered nearly triple those gains.