Sui (SUI) Surges 8% in the Last 24 Hours... DEX Trading Volume Soars, ETF Expectations Rise
Summary
- The price of Sui (SUI) has surged by 8%, showing strength, as DEX trading volume surpasses major Layer 1 and Layer 2 chains, attracting investor interest.
- The launch of Grayscale's Sui Trust and 21Shares' ETF application are raising expectations, with voices anticipating an upward trend after surpassing $4.
- A cryptocurrency strategist forecasts an upward rally for Sui after a clear breakout, with traders suggesting short-term resistance and psychological target levels at $4.76 and $5.67, respectively.
Layer 1 blockchain Sui (SUI) has surged nearly 8% in the last 24 hours, continuing its bullish trend.
On the 22nd (local time), cryptocurrency media outlet Brave New Coin reported, "In the first half of this year, Sui's cumulative decentralized exchange (DEX) trading volume reached $48.4 billion, significantly surpassing major Layer 1 and Layer 2 chains such as Avalanche, Polygon, and Optimism," adding, "With the surge in trading demand, the launch of Grayscale's Sui Trust and 21Shares' ETF application are also highlighting expectations."
On this day, the SUI price on Binance recorded a rise of 8.37% compared to the previous day, reaching $4.1559.
In the market, expectations for a full-fledged upward trend are growing after surpassing $4. Cryptocurrency strategist Michael van de Poppe diagnosed, "Sui is continuing its upward rally after a clear breakout, and the influx of new projects and TVL growth within the ecosystem is also ongoing."
The media added, "Some traders are suggesting $4.76 as a short-term resistance level and $5.67 as a psychological target."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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