Sui Breaks Trading Records, High Volumes Fuel Concerns for Price Rally

Sui’s May trading volume soared to a new record of $14.8 billion, significantly surpassing its historical monthly average. This surge comes alongside growing Decentralized Finance (DeFi) activity and investments within the ecosystem. The total value locked (TVL) on the Sui blockchain climbed 7.69% to reach $2.346 billion, indicating a positive trend in network adoption. Despite this promising activity, the SUI token remains trapped between resistance levels, potentially stalling price growth. 14-day RSI and recent price data suggest a market balance with neither side holding a clear advantage.