Sui Surges Nearly 10% as Bullish Catalysts Drive Breakout

Sui (SUI), the native token of the Sui blockchain, surged close to 10% over the past 24 hours, moving from $2.94 to $3.40 amid strong buying momentum fueled by recent network developments.

During the rally, SUI advanced from $2.94 to $3.24, trading within a $0.34 range, representing 11.5% volatility, according to technical analysis from CoinDesk Research. The token saw significant volume spikes around $2.99 and $3.10, signaling strong institutional interest and confirming these levels as key support zones.

Resistance emerged at $3.27, where price faced selling pressure and reversed despite elevated trading volume. Meanwhile, support held steady in the $3.20–$3.21 range during late trading, suggesting accumulation and the potential for further gains.

Sui’s recent momentum is linked to several positive developments, notably the launch of Threshold Network’s tBTC on the Sui blockchain earlier this week. tBTC, an ERC-20 token pegged 1-to-1 with bitcoin, could introduce over $500 million in BTC liquidity to the Sui ecosystem, adding significant utility and investor interest.

Sui now ranks among the top five layer-1 networks by market activity. Daily trading volume is up roughly 135%, well above the broader crypto market’s 52% average, based on data from Coinbase. Over the past 12 months, SUI has soared more than 340%, sharply outperforming the CoinDesk 20 Index, which rose about 2.8% during the same period.