Sui Surges 12% in a Day as TVL Hits $2.20 Billion

Sui (SUI) has experienced a significant surge, jumping nearly 12% in a single day and approaching the $4 mark. This rally follows a week-long increase of almost 20%, breaking past a key resistance trendline. At the time of reporting, the token is trading around $3.90, with market observers closely watching for a breakout above $4, which could potentially drive SUI toward $5.36, a level last seen in January.

The recent bullish run of SUI can be attributed to the growing excitement around its ecosystem. The network’s Total Value Locked (TVL), which reflects the value of assets locked into Sui’s DeFi projects, has hit a new record of $2.20 billion. This 8.74% increase in just 24 hours indicates a surge in user activity and developer interest in the Sui blockchain.

Additionally, data reveals that SUI’s Open Interest (OI) in the derivatives market has increased by over 19%, reaching $1.73 billion. This sharp rise in OI suggests that more traders are placing bets on SUI’s future movements, signaling growing confidence. Positive funding rates and the liquidation of more short positions compared to long ones further contribute to the bullish momentum. The Money Flow Index (MFI) reading of 78 also indicates heavy capital inflow into SUI.

As of July 10, 2025, the token has seen $510 billion worth of trades, demonstrating strong demand and liquidity. The market cap of SUI has also jumped over 10% in the last week, indicating that more investors are entering the market.

Crypto analyst Rekt Capital notes that Sui is in a “coiling” phase, where the price is tightening and could soon break out. While $4 has been a challenging level to cross in the past, strong support between $1.92 and $2.34 could provide the necessary push for SUI to move higher. Technically, if SUI closes above the $4 mark, it could target the 78.6% Fibonacci level at $4.20. Breaking past that, the token could aim for the previous high of $5.36. The 50-day EMA is also nearing a bullish crossover above the 100-day EMA, typically viewed as a strong buy signal. However, if SUI faces rejection near $4, it may retest support at $3.48.

With rising DeFi engagement, bullish technicals, and growing trader interest, SUI’s momentum appears strong, setting the stage for a potential breakout as broader market optimism rises. Analysts predict that a breakout above $4 could trigger a 40% rally, pushing SUI toward $5.36. This optimistic outlook is supported by the network’s record TVL and the increasing OI in the derivatives market, both of which indicate rising user activity and investor confidence.