---
title: "Sui soars by over 1,300% from its lowest level in 2023"
url: https://diffcoin.com/sui-soars-by-over-1300-from-its-lowest-level-in-2023/
description: "Sui price continued soaring as the DeFi TVL and futures open interest hit its all-time high, pointing to a surge to $10"
published: 2025-01-04
updated: 2025-01-04
author: "Mila"
site: "Diffcoin"
---

# Sui soars by over 1,300% from its lowest level in 2023

Sui resumed its strong uptrend, soaring by almost 20%. At last check Saturday, its price hovered at around $5.13.

Sui (SUI), a popular layer-2 network, has been one of the best-performing cryptocurrencies, soaring by over 1,312% from its lowest level in 2023.

This performance has brought its market cap to over $15 billion, making it the 13th biggest cryptocurrency in the industry.

![Sui resumes strong uptrend, soars by over 1,300% from lowest level - 1](https://crypto.news/app/uploads/2025/01/chart57-1024x747.png)

Source: CoinGecko

Sui’s surge coincided with the continued ecosystem growth as the total value locked in its Decentralized Finance ecosystem soared to a record high of $1.96 billion.

The biggest players in its DeFi ecosystem are Suilend Protocol, NAVI Protocol, Cetus, Scallop Lend, and Aftermath Finance.

## Sui partnerships

Sui also grew after securing major partnerships with top companies like VanEck, Grayscale, and Franklin Templeton. For example, Grayscale launched the Sui Trust, which has accumulated over $14 million in assets. If the Securities and Exchange Commission changes its view on crypto ETFs under Paul Atkins, that could signal that the firm will apply for a spot Sui ETF in 2025.

Sui has also had more successes that have propelled it to a record high. It has incorporated four stablecoins like USD Coin, AUSD, FDUSD, and USDY, which have a combined market cap of over $406 million.

It also launched Deepbook V3, its native onchain order book, whose trading volume jumped to over $1 billion. Its DEEP token has gained a market value of over $375 million.

Meanwhile, Sui’s DEX ecosystem is booming, handling over $46 billion in volume since its inception.

More data shows that Sui’s futures open interest soared to a record high of $963 million. This is a notable increase from this week’s low of $650 million and a sign that SUI’s token is gaining traction among investors.

![Sui open interest](https://crypto.news/app/uploads/2025/01/Sui-Price.jpeg)

Sui open interest | Source: CoinGlass

## Sui price forecast

![Sui price](https://crypto.news/app/uploads/2025/01/SUI-Price1.png)

SUI price chart | Source: crypto.news

The daily chart shows that the SUI token has been bullish this year, rising for four straight days and flipping the resistance at $5 into resistance. By doing that, the coin invalidated the risky double-top pattern whose neckline was at $4. A double-top is a popular reversal sign in the market.

The price of Sui has been supported by the 50-day moving average, which it has failed to move below since September last year. It is also a cheap coin, as the Z-score of the Market Value to Realized Value has fallen to 2.7. A cryptocurrency is said to be highly expensive when it has a Z score of 3.8.

Therefore, technicals suggest that the SUI price will rise to the extreme overshoot of the Murrey Math Lines at $5.50. A move above that level will raise the odds of it moving to the next crucial level at $10.

[Source link](https://crypto.news/sui-sours-by-over-1300-percent-from-lowest-level-2023/)