Sui (SUI) Price Prediction: Volume Soars by 56%, Expected to Challenge the $4 Mark Again

In the past 24 hours, the price of Sui (SUI) has risen by 5.2%, with volume surging by 56%, standing out against the backdrop of a sluggish performance in most Crypto Assets. Swiss bank AMINA is the first to offer clients SUI trading and custody services, and plans to launch staking services to further accelerate institutional adoption. Since its launch in 2023, Sui's TVL has grown by 843% within 19 months, with stablecoin reserves exceeding 1 billion dollars, and both network activity and price performance are in a phase of rapid growth. Technical Analysis indicates that SUI is expected to challenge the $4 mark again.

Swiss Bank AMINA Promotes Sui to Institutional Investors The native token SUI of the Sui network has become popular in the market, stemming from the announcement by Swiss bank AMINA, which became the first financial institution to offer SUI trading and custody to its clients, and plans to launch SUI staking services soon. AMINA manages over $4.2 billion in assets, and this move sets an important benchmark for traditional financial institutions adopting emerging Layer-1 blockchain assets. The Chief Product Officer of AMINA stated that Sui is specifically designed to replace enterprise Web2 infrastructure, outperforming many other Layer-1 public chains in terms of efficiency, which is also an important reason for its appeal to institutional investors.

DeFi ecosystem and stablecoin reserves rapid expansion Since its launch in 2023, the SUI smart contract platform has made significant breakthroughs in on-chain data performance. The stablecoin reserves have exceeded $1 billion, and the total amount of stablecoin transfers recently surpassed $1 trillion. According to DeFi Llama, the total value locked (TVL) in the Sui network has surged from $212 million in January 2024 to $2 billion now, an increase of 843%. During the same period, the price of SUI has risen by 348%, indicating that the growth in locked value is not only dependent on price increases but also driven by the accelerated adoption by users and institutions.

SUI's Competitive Advantage in Performance and Cost Compared to Ethereum and Solana, Sui can theoretically handle a higher transactions per second (TPS) and has significantly lower transaction costs. This advantage gives it potential long-term competitiveness in the fields of DeFi, GameFi, and enterprise blockchain reform, attracting more developers and capital inflow.

Price Technical Analysis: SUI may once again challenge 4 dollars

(Source: TradingView) According to the price forecast on July 15, the price trend of SUI is almost completely consistent with the analysis path. The price previously touched the $4 resistance level and then pulled back to the $3.4 support, stabilizing and rebounding at that position. The recent pullback helps to digest the short-term rise pressure, as SUI soared from $2.3 to $4.2 within a month. The current rebound may be the starting point of a new round of rise, and if it breaks the $4 resistance, the liquidity brought by short covering may drive the price further up. If SUI breaks below the 200-day Exponential Moving Average (EMA), the bullish trend will be disrupted and may enter a larger trend reversal phase.

Conclusion Sui (SUI) is accelerating towards the core stage of the mainstream crypto market, driven by multiple factors such as institutional adoption, DeFi growth, and technical advantages. As more financial institutions follow suit, the price and network scale of SUI are expected to usher in a new round of expansion. For investors seeking opportunities in high-performance Layer-1 public chains, Sui is worth continuous attention.