CandleFocus SUI gains 115% in September backed by ecosystem growth
2024-09-30
Author: Content Editor
In September, Sui (SUI) experienced a surge of 115%, making it the top-performing altcoin and reaching a five-month high. The cryptocurrency's market cap surpassed $4.925 billion, setting a new all-time high, and its daily trading volume rose by 164%. Sui's growth has been driven by increased interest from users and developers, with its total value locked in its ecosystem reaching $1 billion. The cryptocurrency has also made significant progress in the blockchain gaming sector, with the launch of the SuiPlay0X1 gaming handheld. Grayscale's decision to open its Sui Trust to accredited investors has added credibility and attracted institutional interest. Sui's integration of USDC and partnership with MoviePass have also contributed to its bullish momentum. However, there is a possibility of a correction as a significant number of SUI tokens are set to be unlocked on October 1, which could introduce selling pressure.
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