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- Sui Network surpasses Ethereum with a 2.58B transaction milestone.
- SUI price recorded an all-time high of $2.37 yesterday.
Sui Network witnessed massive outperformance and registered a new All-time-high of $2.37 yesterday. The token has gained over 25% in the last three sessions and displayed aggressive buying.
Since September 2024, the SUI token has traded in a significant uptrend. It has outperformed the crypto market despite the market headwinds. The crypto was traded under the bullish bias and delivered +170% in the last three months.
SUI price traded at $2.31 at press time, noting a rise of 2.90% over the past 24 hours. The trading volume soared over 12.90%. That replicated bullish sentiment among the market participants.
Total Transactions on Sui Network Exceed Ethereum’s, Signals Strong Growth
In total transactions, Sui Network outpaced the second most popular cryptocurrency, Ethereum. The data showed that SUI completed 2.58 Billion on November 6, 2024. It is a little ahead of Ethereum’s 2.57 billion.
The crossover of Sui Network usage and transaction volume with that of Ethereum signified that the Sui Network is already fast. However, it is a relatively younger blockchain.
BREAKING: @SUINETWORK FLIPS ETHEREUM IN TOTAL TRANSACTIONS. $ETH / $SUI pic.twitter.com/TrhxPIJhjF
— ToreroRomero (@Torero_Romero) November 7, 2024
It marks a significant phase in the blockchain space and views SUI as a potential competitor to Ethereum in terms of throughput. This achievement contributes to making the SUI token more well-known in the market and the interests of the developers.
CETUS Protocol Goes Live on Binance Driving SUI DeFi Momentum
As the first ‘move blockchain’ with a protocol token, CETUS is marked by SUI Network listing on Binance as a giant leap. Most importantly, it’s the first protocol token.
On the other hand, other big blockchains, such as Aptos, have not even come close to this kind of listing. It has existed for two years,
Onboarding with the CETUS listing means a solid push by Binance for the Sui ecosystem. This push has made it gradually one of the top bastions of DeFi.
CETUS price has surged over 36%, and the trading volume surged over 120% in the last 24 hours. The listing of CETUS in Binance also led to further community attention. That has positively affected the visibility of the Sui network.
$SUI is the first move blockchain to have a protocol token listed on Binance.
— cooltimes (@cooItimes) November 6, 2024
this is monumental $APTOS has been around for 2 years & hasn’t had one listed.
it’s clear now: $SUI defi is winning pic.twitter.com/tIT3rz8jrm
@cooItimes is a crypto analyst. He believes that SUI might be even faster. Also, its DeFi ecosystem could surpass Aptos’s current development and popularity.
SUI Price Prediction: Is $3 Mark Next?
The SUI price was trading in uncharted territory and showed a resilient upmove. It has climbed above the key EMAs and displayed bull dominance.
The technical price setup conveyed a bullish bias. This happened as it traded in the ATH region and continues to spark bullishness.
With the rising development activity in the ecosystem, Sui Network is backed with solid fundamentals. The market participants believed SUI was a safe bet and took long positions in it.
Over the past 24 hours, the Open Interest (OI) has surged over 2.37% to $566.88 Million. This reflected a prolonged buildup activity.
The immediate support zones for the SUI token were $2.20 and $2. On the other hand, beyond ATH, the SUI crypto may approach $2.50 and $2.70 for the upcoming sessions.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
