SUI Ecosystem Sees Strong Revival as TVL Surpasses $1 Billion Again

Key Insights:

• SUI’s TVL surpasses $1B, signaling growing market confidence and momentum.
• Grayscale files for a SUI Spot ETF, increasing institutional exposure to the project.
• SUI shows strong bullish price action, with potential for further gains if key support holds.

The SUI ecosystem has experienced a notable resurgence, with its Total Value Locked (TVL) briefly surpassing $1 billion. This uptick signals renewed investor confidence and growing momentum in the SUI network. As the liquidity begins to flow back into promising assets, analysts are observing positive trends within the SUI ecosystem, which is gaining attention across the crypto market.

SUI’s TVL Crosses $1 Billion Mark

The Total Value Locked (TVL) in the SUI ecosystem has recently exceeded $1 billion, marking a strong revival for the project. The increase in TVL suggests that there is a growing interest in SUI, especially among investors who are looking for assets with proven performance from the previous year. 

According to Michaël van de Poppe, “The liquidity flows back into assets that have proven to do well last year, and that was the entire $SUI ecosystem.” This indicates a positive shift in market sentiment toward the platform.

The TVL surge is seen as a strong sign that SUI is regaining momentum. SUI’s recent performance shows that the ecosystem continues to gain traction in a competitive market, with many now looking at it as a potential leader in the space.

Grayscale Files for SUI Spot ETF

In addition to the growth in TVL, SUI has also been included in the financial products offered by Vanguard. This marks a significant step in bringing SUI to a broader range of institutional investors. Based on BitcoinSensus, Grayscale has filed an S-1 form to launch a Sui Spot ETF. 

The potential approval of this ETF would introduce another major Layer-1 project into the exchange-traded fund (ETF) market. The introduction of such products could increase institutional exposure to SUI, further boosting its market presence.

The inclusion of SUI in both Vanguard’s products and Grayscale’s ETF filing highlights growing institutional interest. This could help provide a stable foundation for the asset’s price to rise further, as larger investors look to gain exposure to the project.

Strong Price Action and Technical Outlook

SUI has been showing bullish price action recently, with a series of higher highs breaking key resistance levels. The price of SUI has shifted upward, signaling a potential continuation of the upward trend. As of today, the price stands at $1.66, reflecting a 3.11% increase in the last 24 hours.

As indicated by a market analyst, “$SUI is really looking promising. We broke the downtrend and started to trade in a nice bullish fashion with that series of higher highs.” This movement suggests that SUI could maintain its positive trajectory, particularly if it holds key support levels above $1.45. The next resistance target is expected at $1.85, providing a potential path for further gains.

Despite recent gains, there is still a significant gap between the 20-week moving average (MA) and the current price. This indicates that there is potential for further growth in the short term. With Bitcoin’s sentiment playing a critical role in the overall market, SUI could gain even more strength as the market shifts.