SUI Crypto Surges Past Altcoins: Can It Jump 70% Again?

Key Insights:

• SUI has flipped AVAX, LINK, XLM, and TON in market cap.
• SUI was attempting another breakout at the time of writing.
• The token received about 29% of Ethereum’s outflows in the past 365 days.

Sui Network (SUI) has overtaken several altcoins in market cap following last week’s impressive rally. Its price action is now pushing for a breakout, signaling strong momentum.

SUI Crypto Flips Multiple Altcoins

SUI token has secured the top spot in market capitalization, reaching $11.47 billion. It has surpassed LINK ($9.89B), AVAX ($8.95B), XLM ($8.58B), and TON ($8.02B). This highlighted its recent surge in investor interest and momentum.

The recent surge positioned SUI as the leader among these established Layer-1 and DeFi tokens, elevating its market position.

Sui Network’s market cap surge stemmed from a price increase or a growing token supply. This growth was fueled by rising on-chain activity, ecosystem expansion, and adoption across multiple platforms.

Strong upward movement could boost investor belief and additional financial resources. This could expand SUI’s ecosystem by attracting new DeFi protocols, programming developers, and users.

Sui’s market cap leadership is not guaranteed, as sustained dominance depends on consistent demand strength and rapid adoption. For long-term stability, broader market trends must reinforce momentum rather than short-term spikes.

Alternatively, SUI’s value may decline due to declining market demand or rising token issue levels. Assurance that SUI was among the top blockchains was due to its ability to surpass some top tokens in market rankings.

SUI Price Prediction

SUI price formed a symmetrical triangular pattern on the 2-hour timeframe, pointing towards consolidation before an impending breakout. Market activity remained around $3.54 right before reaching the symmetrical triangle peak.

The previous week saw Sui get a rapid increase of 70%, which made $3.00 an essential resistance point. The resistance at $3.70 triggered a brief false breakout in SUI as the price reversed back into the support zone.

It indicates that traders should keep themselves patient. The support increased by $3.42 while resistance became increasingly tight at nearly $3.60.

Sui’s bullish momentum could gain traction if its price steadily climbs above $3.62. If this breakout occurs, possible targets include $3.90 and $4.20, aligning with historical impulsive price trends.

The price falling below $3.50 or unable to sustain itself above $3.42 would increase bearish pressure. This could pull SUI down toward $3.25 or $3.00.

Market momentum experienced a possible reversal following the unsuccessful breakout attempt. This suggested short-term momentum was declining.

The break appeared fake to extract market liquidity before genuine asset movement. These price moves become less volatile while awaiting a significant shift in direction. It depends on how the market behaves when reaching support and resistance levels of $3.60 or $3.42.

ETH Outflows Entering SUI

According to Wormhole Bridge, Sui got about $2.1 billion, or 29.12% of Ethereum’s network outflows over 365 days. During this period, SUI ranked as Ethereum’s second-largest recipient of capital, trailing only Solana.

It secured $4 billion in funding, reinforcing its growing influence in the blockchain ecosystem. Arbitrum’s share in transactions was limited at 5.37%, BSC at 3.55%, and Base at 2.43%.

Capital flow to the ecosystem of Sui from the other chains was greater than even mature EVM and L2 chains had. Developers and users continue to show strong confidence in SUI, mainly due to its performance-first design.

Additionally, DeFi and NFT activity on the network is accelerating, further reinforcing its growing adoption. Thus, SUI has strengthened its potential to become a main Ethereum alternative chain. This would draw additional projects and liquidity.

Sui’s continued momentum relies on expanding its ecosystem and encouraging user adoption of its products while maintaining existing capital flows.