Sui, a cryptocurrency often referred to as the Solana-killer, experienced a surge in its futures market, driving its price to a six-month high of $2.14. The coin has gained 181% since its lowest point last month, making it the top gainer among the top 100 cryptocurrencies. Sui's market cap is at $5.46 billion, with its daily trading volume more than doubling to $2.26 billion. The surge in Sui's futures market is attributed to a significant increase in speculative capital, and the coin's fundamentals are also improving, including a surge in total value locked in its decentralized finance protocols. Sui has also surpassed Solana in daily transaction volume. Grayscale's launch of the SUI Trust has contributed to the token's rally by expanding its reach to institutional investors. From a technical perspective, Sui's price action indicates continued strength, with bullish indicators suggesting further upward momentum. Sui's previous all-time high of $2.17 now serves as a key resistance level.



Other News from Today