{"id":461966,"date":"2024-09-23T12:27:45","date_gmt":"2024-09-23T12:27:45","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=856811"},"modified":"2024-09-23T12:27:45","modified_gmt":"2024-09-23T12:27:45","slug":"sui-price-soars-as-solana-rival-sui-network-achieves-900m-tvl","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2024\/09\/23\/sui-price-soars-as-solana-rival-sui-network-achieves-900m-tvl\/","title":{"rendered":"SUI Price Soars as Solana Rival Sui Network Achieves $900M TVL"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/02\/Sui_logo_render2_1200x720_1708451845zRpO8Md1K3.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<ul>\n<li><b>Sui has secured the 8th position among all blockchains after its Total Value Locked saw a staggering 3,285% growth to surpass $900 million.&nbsp;<\/b><\/li>\n<\/ul>\n<ul>\n<li><b>An analyst predicts that the asset could breach its all-time high price and target the $2.6 resistance level once it successfully trades above the $1.80 mark.&nbsp;<\/b><\/li>\n<\/ul>\n<hr>\n<p><span>Layer 1 blockchain <a href=\"https:\/\/www.crypto-news-flash.com\/sui-vs-solana-k33-research-predicts-fierce-competition-as-sui-readies-gaming-console-launch\/\" target=\"_blank\" rel=\"noopener\">Sui (SUI)<\/a> has staged a significant rebound to target the all-time high price of $2.08 recorded in March after recovering from the three-month-long bearish run below the $0.50 mark. According to our market data, Sui was up by <span>61%<\/span> in the last 30 days, <span>49%<\/span> in the last seven days, and <span>12%<\/span> in the last 24 hours at the time of publication. At the current price of $1.61, the asset\u2019s 24-hour trading volume was on the verge of flipping to the positive zone, with $913 million changing hands.&nbsp;<\/span><\/p>\n<p><span>Amid the backdrop of this impressive price action, SUI\u2019s on-chain activities have come up strongly as the unprecedented demand for Decentralized Finance (DeFi) products and services increases considerably.<\/span><\/p>\n<p><span> According to data, SUI\u2019s Total Value Locked <\/span><a href=\"https:\/\/coingape.com\/sui-price-jumps-10-as-solana-killer-sui-network-crosses-900-million-tvl\/\" target=\"_blank\" rel=\"noopener\">surpassed<\/a><span>&nbsp;$900 million yesterday, September 22, to secure the 8th spot among the competing blockchains. This represents a staggering <span>3,285%<\/span> growth over the past year.&nbsp;<\/span><\/p>\n<p>\ud83d\udea8BREAKING: Sui now has $9\ufe0f\u20e30\ufe0f\u20e30\ufe0f\u20e3,0\ufe0f\u20e30\ufe0f\u20e30\ufe0f\u20e3,0\ufe0f\u20e30\ufe0f\u20e30\ufe0f\u20e3 Total Value Locked, now coming in at #8 of all chains for TVL \ud83c\udf89That\u2019s a 3,285% increase in just 1 year \ud83d\udcaaAnd there\u2019s still 8 days left in <a href=\"https:\/\/twitter.com\/hashtag\/Suitember?src=hash&amp;ref_src=twsrc%5Etfw\">#Suitember<\/a> \ud83e\udd2f <a href=\"https:\/\/t.co\/DznCFDOq8h\">pic.twitter.com\/DznCFDOq8h<\/a>\u2014 Sui (@SuiNetwork) <a href=\"https:\/\/twitter.com\/SuiNetwork\/status\/1837943508852003031?ref_src=twsrc%5Etfw\">September 22, 2024<\/a><\/p>\n<p><span>Investigating this further, we observed in CoinMarketCap data that the locked assets had reached 2.10 billion Sui ($3.3 billion). Conversely, the unlocked assets were around 2.68 billion Sui ($4.3 billion). As interpreted by our analysts, this signifies a growing interest and adoption within the ecosystem.&nbsp;<\/span><\/p>\n<h3>More on Sui\u2019s (SUI) Price Analysis<\/h3>\n<p><span>Recently, CNF analyzed Coinglass data and observed that SUI\u2019s Open Interest (OI) had risen by <span>14.65%<\/span> in just a day, pushing the total to $361.89 million. Another look at the weighted funding rate also led to the discovery of a positive value with an increment of <span>0.0091%.<\/span> This implies that long position holders are willing to pay a premium to maintain their \u201cgrounds.\u201d&nbsp;<\/span><\/p>\n<p><span>According to multiple analysts, including Bluntz Capital, the increasing OI and weighted funding rate signals a bullish outlook. Per Bluntz\u2019s prediction, Sui could set a new all-time-high price in the near term at $2.6. Explaining his position, Bluntz pointed out that Sui recently broke out of the 105-day downtrend to push the price from $0.40 to $1.35 in a <span>237%<\/span> surge.<\/span><\/p>\n<p><span>Fascinatingly, the breakout was accompanied by rising trading volume, which indicated a stronger market interest. On top of that, Sui breached its critical resistance level without retracement. This, according to him, implies a continued <a href=\"https:\/\/www.crypto-news-flash.com\/sui-sees-unprecedented-bullish-action-with-record-breaking-open-interest\/\" target=\"_blank\" rel=\"noopener\">upward trend<\/a>.&nbsp;<\/span><\/p>\n<p><span>Currently, SUI\u2019s technical chart shows a successful breakout above the $0.57 resistance level. This positions the asset towards the next critical mark at $1.80. Once it secures this point, Sui could reach its all-time high and validate Bluntz\u2019s prediction.&nbsp;<\/span><\/p>\n<p><span>Technically, the asset\u2019s recent breakout coincides with the strategic mainnet upgrade to version V1.27.2. This development saw the integration of a \u201cnew protocol version and the activation of Move enumeration on the development network.\u201d<\/span><\/p>\n<p><span>The additional deployment of the Mysticeti on Sui Mainnet, as <\/span><a href=\"https:\/\/www.crypto-news-flash.com\/sui-sets-the-standard-for-blockchain-speed-with-new-mainnet-consensus-mechanism\/\" target=\"_blank\" rel=\"noopener\"><span>reported<\/span><\/a><span> by CNF, also contributed to the improved network activities after the consensus latency was significantly reduced to 390 milliseconds, making it the fastest in the industry.&nbsp;<\/span><\/p>\n<hr>\n<h6>Recommended for you:<\/h6>\n<div class=\"tve-leads-shortcode tve-leads-triggered tve-tl-anim tl-anim-instant tve-leads-track-shortcode_228374\">\n<div class=\"tl-style\" id=\"tve_tcb2_set-001\" data-state=\"50\" data-form-state>\n<div class=\"tve-leads-conversion-object\" data-tl-type=\"shortcode_228374\">\n<div class=\"tve_flt\">\n<div id=\"tve_editor\" class=\"tve_shortcode_editor\">\n<div class=\"thrv-leads-form-box tve_no_drag tve_no_icons thrv_wrapper tve_editor_main_content thrv-leads-in-content tve_empty_dropzone\" data-css=\"tve-u-185a09262cb\">\n<div class=\"thrv_wrapper thrv_text_element\">\n<p data-css=\"tve-u-185a09262d4\"><span data-css=\"tve-u-185a09262d5\">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; No spam, no lies, only insights. You can unsubscribe at any time.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.crypto-news-flash.com\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sui has secured the 8th position among all blockchains after its Total Value Locked saw a staggering 3,285% growth to surpass $900 million.&nbsp; An analyst predicts that the asset could breach its all-time high price and target the $2.6 resistance level once it successfully trades above the $1.80 mark.&nbsp; Layer 1 blockchain Sui (SUI) has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":461967,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[11634,25,56,10067,21539,21540],"class_list":{"0":"post-461966","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-other","8":"tag-layer-1-blockchain","9":"tag-news","10":"tag-solana","11":"tag-sui","12":"tag-sui-price-anal","13":"tag-sui-total-value-locked"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/461966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=461966"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/461966\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/461967"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=461966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=461966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=461966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}