{"id":572266,"date":"2024-01-30T10:30:00","date_gmt":"2024-01-30T10:30:00","guid":{"rendered":"https:\/\/ktsl888.com\/?p=572266"},"modified":"2024-01-30T09:56:17","modified_gmt":"2024-01-30T09:56:17","slug":"sui-token-blasts-off-blockchain-newcomer-hits-443-million-tvl-enters-top-10","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/sui-token-blasts-off-blockchain-newcomer-hits-443-million-tvl-enters-top-10\/","title":{"rendered":"SUI Token Blasts Off: Blockchain Newcomer Hits $443 Million TVL, Enters Top 10"},"content":{"rendered":"

In a stunning comeback, the price of Sui token has soared to new heights, painting an impressive picture in the cryptocurrency market. Reaching an impressive $1.61 on the back of a solid 50% weekly rally on Tuesday – its highest point since May 3rd of the previous year – Sui has proven to be one of the standout performers of 2024. With an astronomical surge of over 328% from its lowest level in 2023, Sui has solidified its position as one of the most successful cryptocurrencies of the year.<\/p>\n

\"\"SUI price action. Source: Coingecko<\/pre>\n
Related Reading: ORDI: Extraordinary Price Movement Excites Investors \u2013 Here\u2019s Why<\/a><\/div>\n
SUI Breaks Through Resistance<\/strong><\/h2>\n
Analyzing the token’s price action, the daily chart paints a compelling picture of an upward trend<\/a> over recent months. Sui has experienced a remarkable surge from its 2023 low of $0.3500 to its current high of $1.60. Significantly, the token successfully broke through the crucial resistance level at $1.44, effectively nullifying a potential double-top pattern in the making.<\/p>\n
Technical indicators, including the 50-day moving average and the Ichimoku cloud, lend further support to the bullish outlook for the Sui token. Market analysts are now setting their sights on the psychological price point of $2, representing a 25% increase from the current level, as the next significant milestone.<\/p>\n
\"\"<\/p>\n
SUI TVL at $443.61 million. Source: Defillama<\/a><\/pre>\n
Sui owes much of its growth to its innovative architecture and ecosystem fund. Its architecture ensures swift transactions and lower costs compared to similar networks like Ethereum, making it an attractive choice for users. The recent announcement of Banxa’s expansion to the Sui network has further propelled Sui’s price surge. This expansion paves the way for users to easily acquire Sui tokens through Banxa’s on-ramp platform.<\/p>\n
SUIUSD currently trading at $1.6280 on the daily chart: TradingView.com<\/a><\/pre>\n
At the core of Sui’s phenomenal rise lies its blossoming Decentralized Finance (DeFi) ecosystem. Boasting a Total Value Locked (TVL)<\/a> of over $443 million, Sui has secured a spot among the top 10 largest DeFi networks globally.<\/p>\n
This achievement is particularly noteworthy as Sui has surpassed well-established cryptocurrencies such as PulseChain, Base, Cardano, Cronos, and Aptos, each valued in the billions. Notably, Cardano alone boasts a market cap exceeding $17 billion.<\/p>\n
\"\"<\/p>\n
SUI enters the Top 10 list. Source: Defillama<\/a><\/pre>\n
Sui’s Thriving Ecosystem And Growth Potential<\/strong><\/h2>\n
Examining Sui’s thriving ecosystem, Defillama’s tracking reveals a remarkable 22 DeFi applications. Leading the pack is NAVI Protocol, a liquidity provider with over $98 million in assets. NAVI serves as a gateway for users to seamlessly lend and borrow assets across the Sui network, playing a crucial role in driving Sui’s growth.<\/p>\n
Related Reading: MakerDAO Co-Founder Cashes Out, Sends MKR Wobbling After $4.5 Million Sell<\/a><\/div>\n
Sui’s remarkable rise serves as a testament to the ever-evolving landscape of cryptocurrencies and the vast opportunities they present. As the cryptocurrency market continues to evolve, Sui stands out as a shining star, captivating the attention of investors worldwide.<\/p>\n
Featured image from Shutterstock, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
In a stunning comeback, the price of Sui token has soared to new heights, painting an impressive picture in the cryptocurrency market. Reaching an impressive $1.61 on the back of a solid 50% weekly rally on Tuesday – its highest point since May 3rd of the previous year – Sui has proven to be one of the standout performers of 2024. With an astronomical surge of over 328% from its lowest level in 2023, Sui has solidified its position as one of the most successful cryptocurrencies of the year. SUI price action. Source: Coingecko Related Reading: ORDI: Extraordinary Price Movement Excites Investors \u2013 Here\u2019s Why SUI Breaks Through Resistance Analyzing the token’s price action, the daily chart paints a compelling picture of an upward trend over recent months. Sui has experienced a remarkable surge from its 2023 low of $0.3500 to its current high of $1.60. Significantly, the token successfully broke through the crucial resistance level at $1.44, effectively nullifying a potential double-top pattern in the making. Technical indicators, including the 50-day moving average and the Ichimoku cloud, lend further support to the bullish outlook for the Sui token. Market analysts are now setting their sights on the psychological price point of $2, representing a 25% increase from the current level, as the next significant milestone. SUI TVL at $443.61 million. Source: Defillama Sui owes much of its growth to its innovative architecture and ecosystem fund. Its architecture ensures swift transactions and lower costs compared to similar networks like Ethereum, making it an attractive choice for users. The recent announcement of Banxa’s expansion to the Sui network has further propelled Sui’s price surge. This expansion paves the way for users to easily acquire Sui tokens through Banxa’s on-ramp platform. SUIUSD currently trading at $1.6280 on the daily chart: TradingView.com At the core of Sui’s phenomenal rise lies its blossoming Decentralized Finance (DeFi) ecosystem. Boasting a Total Value Locked (TVL) of over $443 million, Sui has secured a spot among the top 10 largest DeFi networks globally. This achievement is particularly noteworthy as Sui has surpassed well-established cryptocurrencies such as PulseChain, Base, Cardano, Cronos, and Aptos, each valued in the billions. Notably, Cardano alone boasts a market cap exceeding $17 billion. SUI enters the Top 10 list. Source: Defillama Sui’s Thriving Ecosystem And Growth Potential Examining Sui’s thriving ecosystem, Defillama’s tracking reveals a remarkable 22 DeFi applications. Leading the pack is NAVI Protocol, a liquidity provider with over $98 million in assets. NAVI serves as a gateway for users to seamlessly lend and borrow assets across the Sui network, playing a crucial role in driving Sui’s growth. Related Reading: MakerDAO Co-Founder Cashes Out, Sends MKR Wobbling After $4.5 Million Sell Sui’s remarkable rise serves as a testament to the ever-evolving landscape of cryptocurrencies and the vast opportunities they present. As the cryptocurrency market continues to evolve, Sui stands out as a shining star, captivating the attention of investors worldwide. Featured image from Shutterstock, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":572281,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1020,6664,87261,88413,88414,84310],"class_list":["post-572266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain","tag-crypto","tag-sui","tag-sui-price","tag-suiusd","tag-tvl"],"acf":[],"yoast_head":"\nSUI Token Blasts Off: Blockchain Newcomer Reaches $443 Million TVL, Enters Top 10<\/title>\n<meta name=\"description\" content=\"In a stunning comeback, the price of Sui token has soared to new heights, painting an impressive picture in the cryptocurrency market. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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