Sui’s total value locked (TVL) has surged past $2.25 billion, sparking optimism for a price surge towards the $7 mark. Crypto analysts suggest that this growth, coupled with strong decentralized exchange (DEX) activity, could push SUI to new heights. 📈 💰
SUI’s TVL is hitting record highs, attracting attention to its Layer-1 blockchain. Notably, analyst Michaël van de Poppe highlights the link between increasing DEX volume and potential price breakout, suggesting a narrowing gap between price and TVL.
**Institutional Backing Fuels Momentum** 📈:
* Sygnum, a leading digital asset bank, has announced the integration of SUI custody, trading, and lending services. This offering provides secure access to the Sui ecosystem for professional and institutional investors, positioning Sygnum as a prominent player in the Sui space.
**Expert Opinions & Market Signals** 📊:
* Ali Charts predicts that a bullish retest will push SUI towards $7, noting its recent price range of $3.60 to $4.00, with $3.60 acting as crucial support.
* The MACD indicator still points to bearish momentum but indicates slowing selling pressure, suggesting potential for a rebound if SUI sustains support at $3.60.
**Looking Ahead** 👀:
The price of SUI remains close to its all-time high of $5.00 achieved in January. While recent activity has been marked by brief periods above resistance before correction, the market appears poised for further growth. However, caution is advised as the market shows mixed signals and more analysis is needed.
**Disclaimer:** The information provided here should not be interpreted as financial advice. Perform your own research before making investment decisions.