Sui ($SUI) has reclaimed the important $4 psychological stage as of Might 9, following a powerful surge in general crypto market quantity and optimistic momentum over the previous 24 hours.
As one of many day’s top-performing property, $SUI recorded a powerful 10% acquire, accompanied by a 76% spike in buying and selling quantity, reaching $3.3 billion.
This rally has solidified its standing because the Eleventh-largest cryptocurrency, with a market capitalization now exceeding $14 billion.
Sui’s On-Chain Exercise Surges With Over $2B in TVL
Sui’s DeFi ecosystem has additionally witnessed fast progress over the previous month. Whole Worth Locked (TVL) rose to $2.03 billion, reflecting a 12% improve in simply the previous week.
This progress locations Sui because the eighth-largest blockchain by on-chain exercise, now accounting for 1.82% of whole DEX transaction metrics.
Rising stablecoin transactions and a pointy rise in decentralized trade (DEX) volumes are fueling this enlargement.
The Sui community now hosts over $900 million in stablecoins and greater than $654 million in DEX quantity inside the final 24 hours.
Key contributors to this efficiency embrace protocols reminiscent of Suilend, Sudo Finance, Cetus, Haedal, and Walrus, every experiencing over 90% progress up to now 30 days.
Constructed as an object-centric Layer-1 blockchain leveraging the Transfer programming language, Sui gives streamlined integration for different blockchain protocols to ship Web3 performance with Web2-level ease.
Not too long ago, Sui partnered with Axelar Community to reinforce liquidity entry and allow seamless cross-chain interoperability throughout main blockchains.
Huge information for cross-chain builders and asset issuers
@SuiNetwork simply went dwell on mainnet with @Axelar — bringing seamless interchain entry to Sui's blazing-fast infrastructure
Due to @SquidRouter + sensible wallets like @Backpack & @SlushWallet, asset issuers can… https://t.co/2EGichqKa9— Sui (@SuiNetwork) Might 8, 2025
This integration additionally incorporates Sui’s zkLogin know-how, which is designed to simplify onboarding via a extra user-friendly and safe authentication course of.
This builds on earlier partnerships with Circle (USDC issuer) and Mastercard.
Gaming on Sui: Parasol and XOCIETY Redefined Digital Possession
Sui has additionally made main inroads into digital collectibles and Web3 gaming.
On Might 7, Mysten Labs co-founder Adeniyi Abiodun introduced Parasol on Sui, a brand new initiative centered on bringing uncommon playing cards and gadgets totally on-chain, instantly into customers’ wallets below their full management.
Digital accumulating simply leveled up.
With Parasol on Sui, uncommon playing cards and gadgets are not locked in bins — they dwell onchain, in your pockets, and in your management.
The collectibles you’re keen on, reimagined for the digital age. https://t.co/Xgvn5WaODG— Sui (@SuiNetwork) Might 7, 2025
In the future prior, flagship Sui gaming mission XOCIETY revealed a collaboration with sportswear big Adidas to launch ALTS by Adidas, a Web3 gaming studio devoted to digital id and inventive expression on the intersection of blockchain and immersive content material.
On the just lately concluded Sui Basecamp convention, the community additionally introduced Game Dollar, a gaming-focused stablecoin designed to streamline participant incentives throughout blockchain video games.
The SuiPlay0X1, a pioneering handheld gaming console appropriate with each PC and AAA Sui-native titles, is slated for launch by September 2025.
All these developments have considerably contributed to $SUI’s worth restoration, which has surged over 96% since hitting a low of $2.09 on March 11.
What’s Subsequent For $SUI? Key Help and Resistance Ranges to Watch
$SUI has accomplished a corrective ABC construction, with level (A) marking the native backside and level (C) forming a better low, usually a touch to development reversal based on Elliott Wave Concept.
A bullish divergence on the RSI indicator between Might 5–6, the place the RSI printed greater lows whereas the value made decrease lows, signaled weakening bearish momentum.
This was quickly adopted by a powerful breakout above the $3.49 resistance, supported by heavy shopping for stress and rising quantity.
After peaking at $4.04, the asset entered a brief consolidation section (wave D), which seems to be a wholesome pullback somewhat than an indication of reversal.
The RSI presently stands at 64.83, indicating continued bullish sentiment with out being overbought.
#SUI is forming an inverse head & shoulders on the every day
Bullish reversal setup in play — look ahead to a break above $3.80
If confirmed, goal is $5.17 within the coming dayspic.twitter.com/BmvKc7X9bn
— Rose Premium Indicators
(@VipRoseTr) Might 8, 2025
If patrons preserve momentum, $SUI might lengthen its rally towards the $4.50 resistance zone (wave E).
Key help ranges on a possible retracement embrace $3.72 and $3.49, each of which provide doable entry factors for merchants following the development.
The put up Sui Climbs Again Above $4 as Analysts Predict Contemporary Bullish Wave appeared first on Cryptonews.