Sui Surges 1.065% as Stablecoin Inflows and DeFi Activity Boost Network

Sui's latest price was $3.53, up 1.065% in the last 24 hours. This surge in price is indicative of the growing interest and confidence in the Sui network, which has been defying broader market trends with significant growth over the past two weeks. The network's performance is driven by a combination of rising stablecoin inflows, increased network activity, and breakout trading patterns, all of which signal a rapidly maturing layer-1 network.

The stablecoin market cap on Sui has reached $886 million, just $2 million shy of its all-time high. This rebound is notable as it coincides with increased outflows from Ethereum via the Wormhole Bridge, with nearly 29% of Ethereum’s outflows over the past year being redirected to Sui. This shift indicates growing trust in Sui as a viable layer-1 network for stablecoin activity and beyond.

Beyond stablecoins, Sui’s decentralized finance (DeFi) ecosystem is also gaining traction. The network’s total value locked (TVL) now sits at $1.78 billion, reflecting real capital being committed to protocols built on Sui. Decentralized exchanges on Sui are seeing significant momentum, with weekly trading volume shooting up 75% to $3.64 billion last week. These growing figures validate the network’s ability to attract and sustain active users, liquidity providers, and developers, all key factors for any layer-1 network aiming for longevity.

Sui's bullish trend is not just about speculative hype; it is backed by real network activity. This gives the rally more legitimacy than many of the frothy runs seen in other tokens this year. The combination of fundamentals and technical strength positions Sui as one of the most promising layer-1 networks in the current crypto cycle. If the stablecoin market cap continues to rebound and investor confidence stays high, Sui might not only retest its previous highs but push well beyond them.

Despite the optimism, there are risks to consider. Immediate support for Sui lies at $3.51 and then more firmly at $2.70. If the asset breaks below these levels, a deeper retracement to the $2.00–$2.20 range could play out. However, as long as the Sui bullish trend remains intact above the moving average and is supported by rising volumes, dips may simply be buying opportunities.

Sui's momentum is also being tested by a $120 million token unlock, which could apply downward pressure as new supply enters the market. Token unlocks often lead to dilution and price volatility. However, if the market absorbs the unlock well, upside may resume. Otherwise, a test of support zones and broader cryptocurrency rally resilience may follow.

In the broader crypto market, Sui's performance is being closely watched. A successful hold above critical levels for these cryptocurrencies could extend the current rally. However, failing to reclaim these levels could cause short-term declines. These cryptocurrencies sit at crucial junctures that may define broader sentiment in the market.

As the crypto market continues to evolve, Sui's performance and the factors driving its growth will be key areas of focus. The network's ability to sustain its momentum and attract further investment will be crucial in determining its role in the 2025 bull market and beyond.