SUI Group Holdings Expands Treasury to 101.7 Million

Key Insights:

• SUI Group Holdings now holds 101.7 million tokens, valued at $344 million.
• SUI token shows positive market movement, breaking resistance at $3.50.
• Analysts predict SUI price could reach $10 after breaking key resistance levels.

SUI Group Holdings, a Nasdaq-listed company, has expanded its holdings in SUI tokens to 101.7 million. The company’s agreement with the Sui Foundation allows it to purchase locked SUI tokens at a discounted rate.

Treasury Expansion of SUI Tokens

SUI Group Holdings, formerly known as Mill City Ventures, announced an increase in its treasury holdings. The company now holds 101,795,656 SUI tokens, which are worth approximately $344 million. This increase comes after a purchase of 20 million additional tokens.

The Sui Foundation provides SUI Group Holdings with access to locked tokens at a discounted price, further enhancing its position in the market. The deal with the Sui Foundation allows SUI Group Holdings to acquire tokens at favorable terms. 

Despite the large purchase, the company remains cautious with its funds. SUI Group Holdings continues to hold about $58 million in cash, leaving room for future acquisitions and investments. As a Nasdaq-listed firm, the company’s move signals confidence in the growth of SUI tokens.

SUI Token Price Shows Positive Movement

However, according to Crypto VIP Signal SUI token has experienced positive movement in the market. It has broken out of a falling wedge pattern and is now trending upward. According to market analysts, the next resistance level to watch is $3.50. A breakout above this level could lead to further price gains. 

The price action of SUI has garnered attention due to its upward movement. The price has retested the support line and is now trending upward. As the token continues to find support at key levels, traders remain optimistic about its potential for growth.

As of press time the token is priced at $3.30, with a 24-hour trading volume of over $699 million. This marks a small decline of 1.70% over the past 24 hours, but the overall market sentiment remains bullish.

Technical Analysis and Price Targets

Meanwhile,based on CryptoBullet SUI has bounced off support multiple times, forming an ascending triangle pattern. This pattern suggests that the price could soon break out with a price target of $10. 

The analyst stated that the resistance at $4.3 remains a key level to monitor in the coming weeks. Despite its recent price fluctuations, the token continues to show strength, with its long-term potential being closely followed by both traders and investors.

Some analysts expect the price to remain below the $4.3 resistance for a while, which may be seen as a preparation for a breakout above this level.