SUI Surges 75% in a Month, Driven by Wallet Integration and DeFi Growth

SUI price has been maintaining a bullish structure, with the price consolidating near the key resistance level of $4.50. Recent developments, including the integration of Phantom wallet, NFT partnerships, and institutional inflows, indicate growing adoption and interest in the SUI ecosystem. Technical analysis shows a bullish alignment of the Exponential Moving Averages (EMAs), but the Relative Strength Index (RSI) near 68 suggests potential consolidation.

On-chain metrics reflect record activity and sustained momentum in the decentralized finance (DeFi) space. The Total Value Locked (TVL) has grown to $2.18 billion, and the monthly decentralized exchange (DEX) volume has surpassed $11 billion. SUI is currently consolidating near $4, following a brief intraday pullback on May 13, while maintaining an overall bullish structure.

SUI Coin has surged by 75% over the past month, reclaiming the $4 mark for the first time since February. This surge is backed by record on-chain metrics and strong technical indicators, positioning the altcoin for a potential breakout toward the all-time high (ATH) of $5.30. Several catalysts are driving this momentum, including the integration of the Phantom wallet, the launch of the Axelar bridge, and the upcoming Sui Odyssey event.

The Phantom wallet integration on May 13 allows users to seamlessly swap assets between Sui, Ethereum, Solana, and Base, enhancing user adoption and activity. The Axelar bridge launch on May 8 enables native assets to be bridged to and from other major blockchains, boosting Sui’s DeFi composability. The Sui Odyssey event, scheduled for May 17, will spotlight new developments in AI, DeFi, and gaming, potentially acting as forward-looking catalysts for continued growth.

On-chain data confirms explosive growth in the SUI ecosystem. The TVL grew from approximately $1.8 billion in early April to $2.183 billion by May 14. The stablecoin market cap stands near $919 million with inflows up by 39.5%. If it crosses $1 billion, the price could trend toward $4.50 under current dynamics. The monthly DEX volume peaked at $782 million on April 23, the highest single-day volume in Sui’s history, within a broader monthly surge. As of May 14, the 7-day total sits above $3.98 billion, up nearly 40% week-over-week and nearly triple April 10’s figure.

SUI has consistently maintained over 1.5 million daily active addresses through April and May, peaking at 1.7 million on April 29. On average, 1.2 million to 1.5 million wallets interact daily, with a healthy mix of new and returning users. SUI price has gained over 140% from its April 13 low of $1.73, reaching $4.20 on May 10—the first time it reclaimed $4 since January 17, 2025. The rally gained momentum after breaking out of the $2.80–$3.10 consolidation zone on April 23. This breakout coincided with SUI’s DEX volume all-time high of $782 million, confirming the strength behind the price surge.

Price currently trades above all major EMAs, with the 20 EMA providing near-term dynamic support. The $3.53–$3.85 region is acting as a structural base. SUI is consolidating between $3.85 and $4.15, with visible buying support on pullbacks. A daily close above $4.35 would confirm breakout continuation and likely target the $5.30 ATH. The RSI is holding near 68.2, slightly below overbought, suggesting slowing bullish momentum but no breakdown yet. Key support zones include $3.53 and $3.10–$3.20.

SUI’s bullish structure is reinforced not just by technical strength but by fundamental catalysts like Phantom wallet integration, Axelar cross-chain support, and institutional inflows. SUI’s structure remains bullish, supported by rising volume, strong on-chain data, and active user growth. A close above $4.35 could trigger a breakout in the next 2–3 weeks. If DEX volume returns to April highs, SUI may revisit its $5.30 ATH before the quarter ends. Support at $3.50–$3.85 continues to provide a solid accumulation zone.