Source: Cointelegraph.com NewsKey takeaways:\u00a0<\/p>\n
SUI is up 23% in the past 24 hours and 73% weekly, outperforming top-cap cryptocurrencies.
\nThe launch of the Grayscale SUI Trust and the xPortal\/xMoney Mastercard partnership boosted investor confidence.
\nSUI\u2019s TVL is up 40%, and daily DEX volumes surge by 177%, signaling strong ecosystem trust and utility.<\/p>\n
Sui (SUI) price was up 23% in one day, to trade at $3.67 on April 25. This is part of a prevailing rebound that began on April 21 and has seen Sui rise more than 73% over the last seven days. Source: Cointelegraph.com NewsKey takeaways:\u00a0 SUI is up 23% in the past 24 hours and 73% weekly, outperforming top-cap cryptocurrencies. The launch of the Grayscale SUI Trust and the xPortal\/xMoney Mastercard… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127962"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127962"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127962\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127962"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nData from Cointelegraph Markets Pro and TradingView shows SUI rose from a low of $2.11 on April 21, climbing as much as 77% to an intraday high of $3.71 on April 25.
\nSUI\/USD daily chart. Source: Cointelegraph\/TradingViewSUI\u2019s performance over the last seven days made it the biggest gainer among the top 100 cryptocurrencies by market cap.
\nTop gainers April 25. Source: CoinMarketCapSUI price buoyed by positive fundamentals
\nSUI\u2019s gains are primarily fueled by increasing investor confidence following the Grayscale SUI Trust launch and SUI\u2019s strategic partnership with xPortal and xMoney to issue a virtual Mastercard across Europe.
\n\u201cSUI\u2019s officially out of stealth mode,\u201d said pseudonymous analyst Kyledoops in an April 24 post on X.
\n\u201cGrayscale just launched a trust, social chatter is exploding, and it\u2019s [SUI] now sitting above AVAX and LINK in market cap,\u201d Kyledoops expressed, adding:
\n\u201cThis isn\u2019t just retail hype\u2014Wall Street is stepping into the SUI zone. Momentum feels different this time. It\u2019s real. And it\u2019s accelerating.\u201d
\nOn April 23, Grayscale launched the Grayscale SUI Trust, which enables investors to gain exposure to SUI. The trust is now open to all eligible accredited investors.
\nSource: GrayscaleAdding to the tailwinds is SUI\u2019s latest partnership with xPortal and xMone, which introduced a virtual Mastercard, enabling 2.5 million European users to spend the token at over 20,000 merchants via Apple Pay and Google Pay.
\nSource: Sui NetworkSui\u2019s growing DeFi ecosystem
\nSui remains among the top 10 layer-1 blockchains, with over $1.65 billion in total value locked (TVL) on the network. The chart below shows that the SUI\u2019s TVL has increased about 40% over the last seven days.
\nSui network: TVL and daily DEX volumes. Source: DefiLlamaCompared to other top-layer networks, SUI is well ahead of its rivals in terms of TVL gains on the daily, weekly and monthly time frames, as shown in the chart below.
\nComparison of TVL performance on top layer-1 blockchains. Source: DefiLlamaSUI\u2019s daily DEX volumes have risen by more than 177% over the last week, to $599 million. This is significantly higher than the 68% and 67% increases on BNB Chain and Solana, respectively.
\nRelated: Price predictions 4\/23: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK, AVAX, SUI
\nAlthough Ethereum remains the undisputed leader at $10.6 billion, this has declined by more than 14% over the last seven days.
\nAre new all-time highs coming for SUI?
\nFrom a technical perspective, SUI price gained momentum after breaking out of a falling wedge pattern, as shown on the daily chart below.
\nAfter breaching a multimonth resistance trendline near $2.20, SUI reached the wedge\u2019s technical target at $3.30.\u00a0
\nBulls are now focused on all-time highs of $5.35, reached on Jan. 6.
\nSUI\/USD daily chart. Source: Cointelegraph\/TradingViewThe relative strength index (RSI) has increased from 45 to 78 since April 20, reinforcing the strength of the bullish momentum.
\nHowever, to sustain the ongoing recovery, SUI price has to first overcome the resistance between $4.50 and $5.10, before going into price discovery.
\nBased on Elliott Wave analysis of the weekly chart, pseudonymous analyst Bitcoinsensus set a \u201cmassive\u201d price target of $11.50 for SUI.
\nSource: BitcoinsensusThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"