SUI Surges 60% as TVL and Trading Volume Skyrocket

SUI, a prominent cryptocurrency, has experienced a significant surge in its price, rising by 60% over the past week. This impressive performance coincides with a 38% increase in Total Value Locked (TVL) within the Sui network, reaching $1.645 billion. The price breakthrough above the critical resistance level of $2.45 indicates a shift in market sentiment, with buyers taking control and completing an inverse head-and-shoulders pattern, a strong bullish reversal indicator.

The current price of SUI stands at $2.88, with analysts projecting potential targets between $3.8 and $4 in the near future. This represents a potential 30-40% increase from current levels. The surge in price is supported by growing ecosystem metrics, including a 177% increase in daily trading volume on Decentralized Exchanges (DEXs), reaching $599 million. This surge in trading activity, coupled with the rapid growth of stablecoins on the Sui network, has contributed to the overall ecosystem’s stability and attractiveness to investors.

Technical indicators further support the bullish outlook for SUI. The price surge comes with increasing volume, validating the breakout and suggesting strong buying interest. The Relative Strength Index (RSI) stood at 72 on April 25, 2025, indicating overbought conditions but also strong buying pressure. The Moving Average Convergence Divergence (MACD) showed a bullish crossover on April 22, 2025, with the MACD line crossing above the signal line, suggesting continued upward momentum. On-chain metrics reveal a 25% increase in active addresses over the past week, reaching 150,000 active addresses. This increase correlates with the surge in TVL and DEX volume, reinforcing positive sentiment. The average transaction value on the Sui network has also increased by 30% over the past week, reaching $1,200 per transaction, indicating higher value transactions and increased network utility.

Increasing open interest in SUI contracts demonstrates growing market confidence. Open interest has reached $488.6 million in 24 hours, showing strong trader engagement with the asset. Market participation continues to rise steadily as open interest levels increase, demonstrating growing interest in the SUI market. The cryptocurrency is primarily traded through perpetual contracts, indicating that investors expect prices to continue rising. Exchanges like dYdX and Bybit demonstrate SUI’s liquidity and accessibility, as they hold a large share of the market’s open interest. The Fear and Greed Index currently reads 72 (Greed), reflecting the overall bullish sentiment in the market. SUI has recorded 14 green days (47%) over the past month, with volatility at 7.81%.

Some forecasts project that SUI could surge to $9.84 by May 22, 2025, representing a 229% increase from current levels. Market analyst SolbergInvest believes SUI could reach $10 within the next year, citing consistent upward momentum and growing investor confidence. Further bolstering sentiment, 21Shares has registered a new SUI-focused exchange-traded fund (ETF) in Delaware. This follows Canary Capital’s filing to establish a trust entity for its proposed Canary SUI ETF, potentially setting the stage for regulatory approval by the U.S. Securities and Exchange Commission (SEC). The potential introduction of ETFs focused on SUI could bring institutional investment and further boost the cryptocurrency’s price. With strong technical indicators, growing ecosystem metrics, and increasing institutional interest, SUI appears well-positioned to continue its upward trajectory in both the short and long term.