Bitcoin News Today: SUI Surges Past $4.20 on Strong Volume and DeFi Growth

SUI has surged past $4.20, with bullish technical patterns and a 146% rise in trading volume supporting the upward momentum. Open interest has exceeded $2.6 billion, while total value locked (TVL) has climbed over $2.28 billion, reflecting strong DeFi engagement [1]. A $450 million treasury boost from Mill City Ventures has further fueled optimism, with analysts eyeing potential price targets of $7.50 to $10, provided the bullish trend continues [1]. However, risks persist in the event of broader market corrections.

Bittensor (TAO) remains stable near $421, having pulled back from a recent peak of $452. Analysts are monitoring the $400–$415 support level, where a successful rebound could lead to a retest of $432 or higher [2]. A bullish engulfing pattern and rising volume suggest short-term recovery potential, though TAO remains below major EMAs. The token faces a critical test above $423, with failure to hold this level potentially opening the door for a drop to $290 [2]. Despite short-term upside potential, TAO’s performance remains dependent on sustained buying pressure.

Meanwhile, BlockDAG is generating significant attention with its unique presale model. Priced at $0.0016, the project offers not only a projected 3,025% price increase—based on a $0.05 listing target—but also a 10 BTC (worth over $1.18 million) auction pool. Every BDAG purchase before the August 11 global launch enters participants into the draw, with no waiting periods or vesting required [3]. Over 24.5 billion BDAG tokens have been sold, raising more than $355 million, and speculation points to a potential listing on major exchanges soon [3]. The combination of instant unlocks at launch and Bitcoin rewards sets BlockDAG apart from traditional presale models and offers a compelling alternative to price-driven strategies.

Compared to SUI and TAO, BlockDAG introduces a novel incentive structure that rewards early participation directly with Bitcoin. Unlike traditional presales that require patience, BlockDAG’s no-vesting model allows immediate liquidity at launch, while the auction-style rewards mechanism adds an additional layer of upside. This structure shifts the focus from speculative price movements to real-time participation and tangible rewards, making it a unique proposition in the current crypto landscape [3].

With SUI and TAO showing strong but speculative short-term momentum, BlockDAG presents a more structured and immediate value proposition. As the crypto market continues to evolve, the integration of direct incentives with token ownership may redefine how early-stage projects engage with investors. However, as with any investment, due diligence is essential, particularly in high-growth, fast-moving markets.

Sources:

[1] title: SUI Tops $4, TAO Holds Firm, But BlockDAG’s 10 BTC Jackpot is the Best Crypto Deal Today (https://coinmarketcap.com/community/articles/688bceb937af8a5e9f9d58d1/)