SUI TVL Reaches $2.25B, Boosting Hopes for Breakout Toward $7 Price Level

Key Insights:

• SUI’s TVL reaches $2.25B, boosting hopes for a breakout toward the $7 price level.
• Analysts predict SUI could break resistance and target $7 after a bullish retest above $4.
• Institutional interest grows with Sygnum offering custody, trading, and lending services for SUI.

Sui’s total value locked (TVL) has reached a new all-time high of $2.25 billion, drawing market attention to the Layer 1 blockchain. Crypto analyst Michaël van de Poppe noted that the rising TVL and strong decentralized exchange (DEX) volume could lead to a price breakout toward a new all-time high.

Rising On-Chain Activity and Market Interest

Van de Poppe, a crypto analyst, asserts that Sui’s DEX volume reached nearly $15 billion in the past month. He stated that the price and TVL gap could narrow soon, adding that resistance levels appear to be weakening. 

Van de Poppe suggested that a breakout may follow, which could push SUI above its current price range. At press time, SUI is valued at $3.65, showcasing a 1.87% decrease over the past 24 hours.

Another analyst, Ali Charts, said that SUI has completed a bullish retest and could target the $7 level. He observed that the token has been trading between $3.60 and $4.00 in recent weeks, with $3.60 acting as support. Ali noted that a move above $4.00 could open the way to a new high.

Institutional Support and Expansion

However, Sui has seen new institutional interest. Swiss digital asset bank Sygnum announced it has added custody, trading, and lending services for SUI. The integration includes staking options and SUI collateral-backed Lombard loans.

These services will be available to professional and institutional clients, as well as banks. According to Sygnum, its regulated infrastructure provides a secure channel for investors to access the Sui ecosystem.

The bank will also offer off-balance-sheet custody for SUI, ensuring assets remain bankruptcy remote. This launch positions Sygnum as one of the first Swiss banks to integrate Sui into its platform in 2025.

New Leadership at Mysten Labs

Mysten Labs, the team behind Sui, appointed Mustafa Al Niama as its head of capital markets. Al Niama is a former Goldman Sachs executive who led the bank’s digital assets desk in the Americas.

He also worked on a project with BNY Mellon to launch tokenized money-market funds. Mysten Labs said Al Niama will focus on connecting Sui with major financial institutions and expanding its presence in the institutional market.

His background includes four years at American Express before joining Goldman Sachs in 2015. He will also work to promote on-chain financial innovation within the Sui network.

Technical Signals and Market Outlook

Meanwhile, Sui’s price remains close to its January all-time high of $5.00. Over the past month, it has moved between $3.60 and $4.00, briefly breaking above resistance before a market-wide correction. Current indicators show mixed signals. RSI 49.23 indicates neutral momentum, and the market shows no direction.

The moving average convergence divergence (MACD) indicator still shows a bearish trend, with the MACD line below the signal line and a negative histogram. However, analysts point to slowing selling pressure, which could support a rebound. If SUI maintains support at $3.60, it may retest $4.00 and attempt a rally toward $7.