The rapid recovery in Bitcoin and altcoins has attracted attention in the cryptocurrency market this week. The BTC price has risen above $94,000, while it is traded at an average of $93,000.
At this point, Bitcoin remains above $93,000, while Ethereum (ETH), XRP, BNB, Avalanche (AVAX) are stable. Solana (SOL) is up 2.6%, while Dogecoin (DOGE) and Cardano (ADA) are up 4%.
SUI Attracts Attention with Its Rise!
Outside of the majors, Sui Network’s native token SUI rose by &18.5 in the last 24 hours, taking its weekly gains to 70%.
Continuing its multi-day rally, SUI’s bullish catalysts include the move by ecosystem company xPortal, which has launched a SUI-branded payment card that operates on the Mastercard network.
Catalysts were also cited to include TVL, DEX volume, and stablecoin growth.
Cryptocurrency analytics firm Lookonchain attributed the 60% increase in SUI’s price to a combination of increasing total value locked (TVL), decentralized exchange (DEX) volume, and stablecoin growth on the network.
According to the data, the TVL of the Sui blockchain increased by 38% to $1.65 billion last week, while the daily DEX volume increased by 177% to $599 million.
The value of stablecoins on the network also increased by 82% in two months, from $482 million to $879 million.
SUI continues to trade at $3.53 after the rise it experienced.
*This is not investment advice.
Continue Reading: Altcoin Listed on Binance Is Silently Rising! Here Are the Reasons for the Rise!
Source: https://en.bitcoinsistemi.com/altcoin-listed-on-binance-is-silently-rising-here-are-the-reasons-for-the-rise/