SUI Eyes Breakout Above $3.30
The post SUI Eyes Breakout Above $3.30 appeared on BitcoinEthereumNews.com. Sui’s TVL surges to $1.8B, ranking third among non-EVM chains in DeFi activity Stablecoin supply on Sui triples in 2024, signaling rising user trust and liquidity SUI price nears $2.50 support as RSI dips, setting stage for possible breakout move The Sui (SUI) ecosystem continues to show impressive fundamental strength, even as its native token has seen a notable price correction. A deep dive into the data reveals a significant disconnect between the network’s booming on-chain activity and its recent price action, a dynamic that some analysts see as a potential long-term opportunity. Renowned market analyst Michaël van de Poppe recently highlighted Sui as one of the most promising non-EVM blockchain projects, citing its rapid growth and signs of technical resilience. Sui’s On-Chain Growth Accelerates as Key Metrics Soar Sui has shown remarkable expansion across multiple on-chain metrics. Stablecoin holdings on the network have tripled since January, surging from $400 million to nearly $1.2 billion. This tripling in supply reflects growing user trust and liquidity flowing into the ecosystem. Moreover, total value locked (TVL) now stands at $1.8 billion, placing Sui third among non-EVM chains a significant achievement in a competitive landscape. Wallet adoption is also gaining momentum. The Sui ecosystem has seen notable integration with Phantom, a popular multi-chain wallet. Additionally, the native SUI wallet has undergone a rebrand to Slush, bringing a more user-friendly identity and interface to the platform. Lending activity is booming too. SuiLend, the protocol’s native lending platform, now secures over $600 million in TVL. This marks a 90% increase in just one month. $SUI remains super interesting as an ecosystem. Fundamentally, they have been adding updates: – The amount of stablecoins on the chain has gone vertical, as it was $400M in January and is now close to $ 1.2 B. – Total value…
The post SUI Eyes Breakout Above $3.30 appeared on BitcoinEthereumNews.com.
Sui’s TVL surges to $1.8B, ranking third among non-EVM chains in DeFi activity Stablecoin supply on Sui triples in 2024, signaling rising user trust and liquidity SUI price nears $2.50 support as RSI dips, setting stage for possible breakout move The Sui (SUI) ecosystem continues to show impressive fundamental strength, even as its native token has seen a notable price correction. A deep dive into the data reveals a significant disconnect between the network’s booming on-chain activity and its recent price action, a dynamic that some analysts see as a potential long-term opportunity. Renowned market analyst Michaël van de Poppe recently highlighted Sui as one of the most promising non-EVM blockchain projects, citing its rapid growth and signs of technical resilience. Sui’s On-Chain Growth Accelerates as Key Metrics Soar Sui has shown remarkable expansion across multiple on-chain metrics. Stablecoin holdings on the network have tripled since January, surging from $400 million to nearly $1.2 billion. This tripling in supply reflects growing user trust and liquidity flowing into the ecosystem. Moreover, total value locked (TVL) now stands at $1.8 billion, placing Sui third among non-EVM chains a significant achievement in a competitive landscape. Wallet adoption is also gaining momentum. The Sui ecosystem has seen notable integration with Phantom, a popular multi-chain wallet. Additionally, the native SUI wallet has undergone a rebrand to Slush, bringing a more user-friendly identity and interface to the platform. Lending activity is booming too. SuiLend, the protocol’s native lending platform, now secures over $600 million in TVL. This marks a 90% increase in just one month. $SUI remains super interesting as an ecosystem. Fundamentally, they have been adding updates: – The amount of stablecoins on the chain has gone vertical, as it was $400M in January and is now close to $ 1.2 B. – Total value…
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