Sui Jumps Nearly 50% in a Week on Institutional Demand, Feature Hopes

Layer-1 blockchain Sui has surged nearly 50% over the past week, drawing renewed market attention.

Cointelegraph reported on May 11 that Sui climbed to an intraday high of $1.41 after trading at about $0.94 on May 4. Trading volume also spiked over the same period, rising from about $200 million to more than $2.5 billion as buying accelerated.

The rally appears to have been driven by a mix of growing institutional participation and expectations for new features. Reduced supply has emerged as a key factor. Nasdaq-listed SUI Group Holdings staked all of its roughly 108.7 million SUI tokens, valued at about $143 million, shrinking the amount available for التداول and helping fuel the advance.

Expectations for broader real-world use also added support. African payments infrastructure company Paga recently said it plans to work with the Sui network to develop cross-border payments and stablecoin-based services. The partnership highlighted potential use cases in institutional and real-world payments, lifting investor sentiment.

Technical developments also added to the positive tone. Mysten Labs co-founder Adeniyi Abiodun disclosed plans to introduce fee-free stablecoin transfers and privacy-preserving transaction features. The move is aimed at improving both payment efficiency and security, bolstering expectations for further ecosystem expansion.

Sui was recently trading at $1.29 on Binance's USDT market, up 20.41% from a day earlier.