CandleFocus Is SUI Poised for Continued Growth After Reaching New ATH?
2024-12-16
Author: Content Editor
The native token of the Sui Network, SUI, has reached an all-time high of $4.93 and is currently trading at $4.78. The token has seen a 9% increase in the past 24 hours and has gained 15% over the past week and 27% over the past month. This surge in price is correlated with the Sui Network's decentralized finance ecosystem reaching a total value locked of $1.79 billion, with lending platforms Suilend and NAVI Lending accounting for 58% of the locked assets. The increased TVL has also led to a rise in trading volumes. While there are signs of consolidation and potential sell pressure in the near term, analysts suggest there is still room for growth with a potential rally targeting the $6 mark. Sui Network remains a strong contender in the altcoin space and has gained institutional interest and the launch of the Grayscale Sui Trust.
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