SUI Surpasses Solana in Stablecoin Transfers as Price Gears Up for $3.80 Rally

Key insights:

• SUI logged $40.08B in weekly stablecoin volume, surpassing Solana’s $35.5B for the first time, signaling rising institutional adoption
• Despite bearish RSI and MACD readings, SUI is retesting a bullish W-bottom neckline, potentially setting up a breakout above $3.80
• Derivatives and spot data reveal mixed sentiment, with whales active and network metrics surging, though ETF delay and hack fears linger

SUI overtook Solana in weekly stablecoin transfer volume, marking a shift in layer-1 market momentum. The move coincided with a bullish technical retest at a key neckline, prompting renewed speculation over a potential rally toward the $3.80 zone.

SUI Tops Solana in Stablecoin Transfer Volume

Between June 9–15, SUI processed $40.08 billion in stablecoin transfers, surpassing Solana’s $35.53 billion, according to Artemis data. It marked the first time SUI outperformed Solana in this metric, signaling institutional interest and deeper liquidity movement toward the chain.

The spike in the stablecoin flow indicates the increased interest in the scalable infrastructure of Sui. In spite of the recent price corrections, capital inflow into the ecosystem of Sui is growing.

This is an uptrend within a wider rotation of altcoins back into the major networks, which is shown by the increasing dominance of Bitcoin.

However, the stablecoin development of SUI is remarkable. It is an indicator of the confidence of DeFi participants in transferring liquidity to younger, performance-optimized chains that can support high volumes of transactions, particularly in volatile macro environments.

Technicals Point to Bullish Structure Despite Weak Momentum

SUI is retesting a major neckline of a W-bottom. This bullish reversal pattern is usually a trend continuation pattern when it is accompanied by volume. In case of confirmation, the subsequent leg up may aim at $3.80, which is the measured move of the pattern.

But short-term signals are warning. The RSI-14 is at 35.6, which shows that the momentum is weak, but it is not oversold. In the meantime, MACD histogram is at -0.0518 and indicates even more bearish momentum, and price is below all major SMAs (10-day: $3.13, 50-day: $3.49).

In addition, a crucial support level of 2.71, which was last tested in the June 2025 swing low, should be maintained to avoid more liquidations and further drop.

Derivatives Market Mixed, But Whales Keep Activity High

The derivatives data of SUI are neutral-to-bearish. The Coinglass 24-hour long/short ratio is 0.97, which indicates balanced expectations. Remarkably, a more bullish 2.25 ratio is observed in OKX, which suggests an aggressive long stance of certain market participants.

The shorts are leading the 24-hour liquidations with a wipe of $1.25 million against $3.72 million in longs. As open interest and volume fall marginally (-1.09%), options activity is firming, which suggests that hedging or speculation are still in play.

The situation is complicated by spot flows. The statistics indicate that net outflows have been consistent since the beginning of the year, which can indicate that investors are transferring tokens to cold storage or DeFi protocols, which is generally an indicator of long-term conviction.

Onchain Growth Strong, But Sentiment Remained Cautious

SUI’s onchain fundamentals continued to improve. The network recorded 209 million active accounts, a 68% increase since April. DefiLlama data showed SUI held $1.147 billion in stablecoin liquidity, highlighting a strong DeFi backbone.

Yet negative sentiment persisted due to the May 2025 Cetus Protocol hack, which resulted in $223 million in losses. Regulatory uncertainty around the delayed 21Shares SUI ETF, now pushed to July 24, added further pressure.

Developer metrics offered a more optimistic picture. Token Terminal data showed SUI averaged 24.4K code commits weekly, with sharp growth since January. Developer activity remained a core strength, reinforcing protocol resilience and long-term viability.

Despite growing adoption and developer support, SUI needed to reclaim key technical levels to confirm a breakout. Without a clear move above $3.80 and sustained volume, price risked remaining trapped in consolidation.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.