Sui has recorded a strong run over the past week, triggering speculations of reaching a new all-time high soon.
Sui SUI $3.44 24h volatility: 3.1% Market cap: $12.09 B Vol. 24h: $1.37 B , a layer-1 blockchain that uses parallel transaction execution to become highly scalable, is seeing growing attention from traders, investors, and decentralized finance users.
The layer-1 network saw its DeFi total value locked increase by 38% over the past week, reaching $1.64 billion for the first time since February 2, according to data from DefiLlama.
Decentralized exchanges on the Sui network recorded a 177% spike, hovering at $599 million, in their trading volume in the past seven days. This shows that DeFi users might be turning to Sui due to its theoretical maximum of 297,000 transactions per second.
Moreover, the stablecoin market cap on Sui rose from $482 million to $879 million over the past two months, marking an 82% increase, according to DefiLlama.
SUI recorded a 70% rally over the past week and is trading at $3.55 at the time of writing. Its market cap is currently hovering at $11.5 billion with a daily trading volume of $3.3 billion.
New ATH Speculations Abound
It’s not just DeFi that has been driving the Sui price upward. The most important catalyst is the possibility of lowering the US tariffs against China. This brought strong optimism to financial markets like stocks and crypto.
The global crypto market cap started to rise toward the $3 trillion mark again.
Many analysts on X have been hinting at Sui’s strong bullish momentum. Bitcoinsensus shared a chart that shows SUI moving in an ascending wedge pattern.
$SUI Massive Price Projection Target🔥
Sui has been moving in waves inside this ascending wedge that has been forming since June of 2023.
We now also have got a bullish high time-frame confirmation with a break of trend on the RSI on the weekly.
Next price target for $SUI on… pic.twitter.com/T4F5nxU5RY— Bitcoinsensus (@Bitcoinsensus) April 23, 2025
Bitcoinsensus’ data shows SUI’s historical price chart from May 2023 and indicates that the asset will likely reach a new all-time high of $11.5 before facing another major correction.
While the technical indicators look optimistic, it’s important to note that several key factors like the macroeconomic conditions, fundamental signals, and overall investor sentiment can shift at any moment under different circumstances.
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