The cost of Suis skyrocketed to a record peak, reflecting the ongoing surge of the Layer 1 blockchain that serves as the foundation for digital asset ownership.
Amid a broader market upside, Sui (SUI) climbed to a new ATH of $5.35.
Despite a surge of over 20% for the L1 token within the last week, it has recently scaled back some of its remarkable increases from January 6. This retracement has taken place in the last 24 hours.
Today’s SUI price remains steady at approximately $5.21 as indicated by the crypto.news pricing interface. The daily trading volume has experienced a slight decrease of roughly 3.2%, settling at slightly above $1.4 billion.
2024 saw Sui finish with significant advancements, as it experienced widespread expansion throughout the realm of decentralized finance.
Suicide Coin is currently listed within the top 100 digital currencies based on market capitalization, and it has shown exceptional growth as an alternative coin during the previous twelve months.
Key events like the rollout of DeepBook V3 and Sui Bridge on the blockchain platform, combined with growing institutional investor attention, fueled significant price fluctuations. Importantly, SUI was added to Grayscale’s list of 30 digital assets in their crypto investment portfolio. The token’s worth surged following Grayscale’s introduction of Sui Trust and making it accessible to accredited investors.
Moreover, wrapping up the year at a locked value of $1.75 billion, this project has witnessed its Total Value Locked (TVL) skyrocket to over $2.6 billion in the opening week of 2025. Notably, the Sui TVL was only $242 million in January 2024. As mentioned earlier, the optimistic outlook towards SUI has grown stronger, coinciding with a rebound for DeFi.
During the positive market atmosphere that followed Donald Trump’s clear win in the US Presidential Election, there was a surge in the value of Decentralized Finance (DeFi) tokens in general.
The new president’s supportive attitude towards cryptocurrencies, coupled with his selection of crypto-friendly leaders for crucial market regulatory positions, sparked a surge in the market. Additionally, Gary Gensler’s departure from the U.S. Securities and Exchange Commission as its chair has contributed to the growth of Decentralized Finance (DeFi).
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2025-01-07 00:12