8 hours ago
Sui (SUI), the autochthonal token of the Sui network, roseate astir 10% successful the past 24 hours aft respective catalysts implicit the past week pushed the token successful a breakout zone.
The token delivered a bullish performance, climbing to $3.24 from $2.94 with a trading scope of $0.34 that reflects 11.5% volatility, according to CoinDesk Research's method investigation model. It built important upward momentum featuring notable measurement surges astatine $2.99 and $3.10, demonstrating beardown organization accumulation and validating these breakout points arsenic high-volume instauration levels.
Critical absorption materialized astatine $3.27 wherever the terms encountered reversal amid heightened volume, portion enactment stabilized wrong the $3.20-$3.21 portion during precocious trading hours, indicating imaginable accumulation positioning for continued upward movement.
The bullish momentum comes aft respective catalysts for the token, including the launch of Threshold Network's tBTC, an ERC-20 token backed 1-to-1 by bitcoin, connected the Sui blockchain earlier this week which could perchance adhd implicit $500 cardinal successful bitcoin liquidity to the Sui network.
Sui ranks among the apical 5 layer-1 networks, with regular measurement up astir 135% versus the market’s mean of 52%, according to information connected Coinbase. The token has risen much than 340% successful the past 12 months, outpacing the broader crypto marketplace arsenic measured by the CoinDesk 20 Index, which roseate astir 2.8% implicit the aforesaid period.
Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.
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