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SUI has seen a staggering rise of over 160% since the beginning of September, with its price now hovering around $2. This remarkable rise has made analysts and investors very optimistic about the future of layer-one blockchain. In addition to its high price, SUI is showing strong growth across key metrics, indicating increased adoption and usage.
According to data from DefiLlama, the total value locked (TVL) of SUI has reached an all-time high, indicating strong demand for the decentralized finance (DeFi) ecosystem. The rising TVL highlights growing interest from users and developers, strengthening confidence in SUI’s long-term potential.
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The price rise is not limited only to market sentiment, but is supported by tangible growth in the platform’s fundamentals. As both TVL and users become more involved, the positive outlook for SUI continues to grow. Investors are now eyeing higher price targets as they anticipate further growth for the top-tier blockchain in the coming weeks.
As SUI moves to greater heights, its performance reflects strong market support and underlying network growth, making it one of the most talked about projects in the cryptocurrency space.
SUI TVL signals continue to rise
SUI is currently testing a crucial supply level around the $2 mark, a psychological barrier that, once crossed, could pave the way for a rally to new highs.
Analysts are watching this level closely, as a break above it could lead to a strong upward move. On-chain data from DefiLlama Supporting this optimism, it reveals that the total value of SUI locked (TVL) has reached an all-time high of $1.07 billion. This represents a significant 65% increase in GTV over the past 30 days, indicating growing confidence in the platform’s utility and long-term potential.
The rise in TVL is a net positive for SUI, as it reflects the growing adoption of the Sui ecosystem. As more value flows into the network, demand for SUI tokens will likely grow, creating upward pressure on their price. Investors often view a rising TVL value as a bullish signal, indicating that the platform is gaining traction and trust among users.
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If these positive trends in TVL and overall network activity continue, the price is likely to rise above SUI’s previous high of $2.16 in the coming weeks. As momentum builds, many expect SUI to make further gains, cementing its position as a leading tier-1 blockchain.
Price Action: Liquidity levels to monitor
SUI is currently trading at $1.89, just 15% away from its all-time high of $2.18. The recent price action has been promising, rising 8% in the past hours. Many analysts believe that if SUI can break through the critical level of $2, the chances of reaching all-time highs will be very high. This psychological barrier can trigger a wave of buying pressure, pushing the price to new levels.
However, some investors are cautious, anticipating a healthy correction before further upward movement. If SUI fails to cross the $2 mark, a bounce to support levels around $1.60, or even a drop to $1.45, would not be unexpected. Such a correction could provide a solid foundation for the next bullish wave, allowing SUI to gather momentum before attempting to break the $2 resistance level again.
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Despite this, overall sentiment remains upbeat, with many investors holding out for a new all-time high soon. SUI’s recent performance and market dynamics indicate that the coming days will be crucial to determining its next move.
Featured image by Dall-E, chart from TradingView