Key Insights:
- SUI stablecoin inflows rose 15%, boosting liquidity to $823.96M.
- 90.6% of SUI traders on Binance are long, showing a strong bullish bias.
- SUI’s 150 M+ accounts and $1.53B TVL hint at rising retail and DeFi use.
SUI recent market activity has reignited bullish sentiment across crypto circles, fueled by solid technical setups and notable on-chain movements. Analysts have flagged the token’s structure as a potential reversal point.
Meanwhile, a steady uptick in stablecoin inflows, whale accumulation, and retail engagement indicated growing confidence in the project’s fundamentals. These indicators and a resilient derivatives market lend weight to the argument that SUI’s current rally is more than a passing trend.
SUI Price Technical Breakout Confirmed
SUI price breakout from a falling wedge pattern has garnered attention from analysts. ZAYK Charts published a technical chart showing the token pushing above a key descending resistance line. The pattern, often seen near the end of extended corrections, suggested the market may be transitioning to a bullish phase.
SUI price rebounded strongly from $1.40 support and moved toward the $2.10 resistance area, signaling that momentum is building.
Furthermore, Raoul Pal echoed a similar view in a post the same day, identifying a clean bullish channel and a completed TD Sequential count. According to Pal, this technical configuration often precedes a price reversal. His chart highlighted a bottoming formation near $1.50 and a gradual channel sloping toward $4, providing a potential roadmap for price recovery.
Institutional-Scale Accumulation and Transaction Volume
Beyond chart formations, SUI’s on-chain activity has revealed important behavioral shifts among large holders. According to Santiment, whale wallets holding more than 1 million SUI have increased by 8% in two weeks. This class of investors often takes positions in anticipation of long-term price appreciation. Their accumulation reflected rising confidence in SUI price trajectory.
Additionally, daily transfer transactions have also increased significantly, rising from an average of $48 million to over $80 million within a week. This growth in the value transfer across wallets points to rising awareness and activity in the market on the part of tokens. When volume is being fueled by trading or DeFi, interaction enhances the accumulation phenomenon.
Fundamental Growth in Retail Adoption
SUI’s network expansion is happening at an accelerating pace. According to the data from SuiVision, account count for the platform increased by 7% of the week and has now reached more than 150 million. This growth pointed to a high demand for retail as well as increasing usage. Low transaction fees and good infrastructure for developers realized early on has also contributed to increase in user base.
In regards to DeFi, the SUI TVL has reached $1.241 billion with a 0.88% TVL increase daily. This is an upward trend indicating that there are continuous inflows into DeFi protocols, including Cetus and Navi, which are still the leading platforms in the SUI ecosystem.
Investors are betting that their capital invested in lending and liquidity pools will be secure and the network will remain operational.
Notably, the stablecoin inflows also continue to support this trend. Over the past week, SUI’s stablecoin market cap increased by 15.01%, reaching $823.96 million. Liquidity remains the lifeblood of any Layer-1 chain, and the influx of stable assets supports smoother onboarding into decentralized applications while also tightening token supply.
Long Bias in Derivatives Market
Interestingly, sentiment in the derivatives market continues to remain strong. According to Coinglass data, approximately 90.6% of long-side open interest is in SUI perpetual contracts. The long/short ratio was at 9.64 indicating strong sentiment of traders during niche movements that were observed in the spot price.
This bullish leverage positioning corresponds with prior technical indications and whales’ activity. Leveraged markets correlate with volatility, but an imbalance of this nature indicates traders expecting higher prices from the asset. While SUI price fluctuated and dropped in some sections during the day, futures market traders remain reluctant to exit the trade.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
