Sui Maintains Bullish Trend as Stablecoin Market Cap Rebounds Towards All-Time High

Sui continues to outperform the broader crypto market, fueled by surging stablecoin market cap approaching its all-time high. The network’s native ecosystem is experiencing significant growth, with metrics indicating a bullish trend. Stablecoin activity on Sui has rebounded to nearly $886 million, just $2 million short of its previous record set earlier this week. 29% of Ethereum (ETH) outflows over the past year have been directed towards Sui through the Wormhole Bridge. This highlights the growing appeal of Sui as a layer-1 alternative, despite Ethereum’s dominance and strong developer ecosystem.