- SUI is stunning the crypto market with impressive growth.
- The token is on a streak of fresh all-time highs.
- Market watchers are lauding SUI’s potential.
The native token of the Layer 1 blockchain, Sui, has seen a parabolic run throughout the month, abandoning its months-long underperformance for fresh gains. SUI’s uptick has propelled it to flip multiple all-time high records in quick succession, cementing its position as one of the top-performing altcoins in the ongoing Bitcoin-led rally.
Continuing the trend, the token has set its sights on even higher milestones.
SUI Sets Sights on $4 Mark
The SUI token has maintained a strong bullish momentum, smashing new price highs day after day. Although occasional corrections have occurred, the token’s performance over the past few weeks has remained largely positive.
Currently trading at $3.75, SUI is just 6.67% shy of the $4 milestone, the next price target in its ongoing streak. A previous attempt to hit the price mark saw the token briefly brush $3.9, only to slip back due to lack of support. Despite also recording an approximate 5% loss over the last 24 hours, its current valuation marks a 19% uptick over the past seven days, 82% in the past month, and a whopping 588% in one year.
SUI’s performance has drawn significant praise, with market watchers lauding its potential. Michaël van de Poppe, a market analyst, named SUI as a top token to watch, reinforcing the hype surrounding its trajectory.
The ongoing praise for the token aligns with the positive sentiment surrounding the broader network.
Cardano Founder Applauds Sui
Charles Hoskinson, the co-founder of Cardano, recently joined the growing chorus of praise for the Sui network. In October 2024, Hoskinson shared a series of posts celebrating the network’s innovations and position within the industry.
“Sui has some real innovations,” Hoskinson noted, emphasizing that the network deserves great success in the crypto space.
Hoskinson went on to compare Sui favorably to Solana. He noted that the network is what the Solana blockchain should have been, although reaffirming that Cardano remains ahead of both.
Several investors have also praised SUI’s performance, emphasizing its position as a top-performing token.
On the Flipside
- The Sui network’s TVL (Total Value Locked) continues to grow, reaching $1.67 billion at the time of writing.
- SUI has recently reached 30 million active accounts.
Why This Matters
The SUI token’s impressive performance strengthens its growing reputation. Should its upward momentum persist, it could further boost investor confidence and contribute to broader ecosystem growth.
Find out more about recent developments by the Sui network here:
Sui’s First ‘Incubator Hub’ Goes Live in Dubai
Here’s why market analysts believe altcoins are set to seize Bitcoin’s spotlight:
Why Altcoin Season Is Next in Line Post Bitcoin-Breakout
