SUI's New Wallet Growth Surpasses 600K Daily, Signaling Bullish Momentum

SUI’s user base has experienced a significant shift, with new wallet growth breaking a six-week stagnation. This structural breakout indicates a change in momentum within the ecosystem. The number of daily new accounts surpassed 600,000, marking a critical change often seen before network acceleration. This breakout above the 600K level shows elevated user demand and growing interest in SUI. Analysts view wallet growth as a leading indicator of broader activity within the blockchain ecosystem. The six-week accumulation period appears to have resolved with a sharp upside move, suggesting further expansion in user adoption.

Alongside growing on-chain activity, technical signals suggest rising interest among investors and traders. Crypto analyst Alex Clay noted that SUI is now testing a confluence of key resistance levels, including the 50-day, 100-day, and 200-day exponential moving averages (EMAs), combined with the upper boundary of a Bullish Flag. This setup often signals the continuation of an upward move. If the price closes above the resistance zone, Clay believes a rally toward $5 remains highly probable. This aligns with recent price action, where SUI has gained over 15% in the past week and currently trades at $3.00.

Beyond wallet creation and price movement, further signs of momentum could emerge from rising transaction volume, TVL growth, and application launches. Observers suggest monitoring whether daily wallet creation stays above 600,000. Sustained growth in these metrics could reinforce the current bullish trend. Bridge activity, incentive programs, and protocol developments are expected to influence short-term performance. If these ecosystem catalysts align, SUI may continue attracting investor interest. The data suggests a rising base of users could drive on-chain value in the coming weeks.

After weeks of low volatility, both price and user data show renewed energy in the SUI network. The change in wallet behavior and bullish technical patterns present a strong case for continued growth. If volume and user activity continue upward, SUI may break out toward higher price levels.