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Key Insights:
- SUI Group Holdings (SUIG) is listed on the Nasdaq with $450 million SUI crypto treasury, with the altcoin hitting a new yearly high in daily transactions.
- Sui Network’s DeFi TVL shot up 44% from Q1 2025 to Q2, while the Average Dex Volume grew by more than 21%.
- SUI crypto price was chopping around the weekly 200SMA.
Sui Network (SUI) was slightly down in the last 24 hours, but its price resemblance to that of Solana (SOL) remained intact.
The CEO of Helius Labs backed this notion while articulating why this was so for the altcoin. He, however, noted that there were a few risks associated with most L1 blockchains. Among them was the programming language. SUI’s move language was deemed better than Rust for Solana.
The altcoin was now receiving more institutional adoption across the globe this year. Since the crypto bull run that started in November 2024, SUI has dominated chain activity and price performance.
Despite the slowdown in the first quarter and some months of the second quarter, the altcoin has resurged since June. The US market was gearing up for more SUI crypto play as SUI Group Holdings entered Nasdaq. This was after changing their name from Mill City Venture III.
While SUI did well on all fronts, the future of the altcoin seemed brighter, especially as participants awaited the Fed to cut rates in the coming month.
SUI Group Holdings Debuts on Nasdaq
Per a post by Galaxy on X (formerly Twitter), SUI Group Holdings stock was listed on Nasdaq with the ticker symbol transitioning to SUIG. The company’s stock became the only publicly traded firm with a knack for SUI crypto. Galaxy was thrilled to announce its commitment to supporting SUI’s 450 million treasury strategy.
SUIG had now joined other top companies listed on Nasdaq. This meant that more users were recognizing the SUI crypto as it made its way into the US traditional markets. Gradually, institutions were getting more involved in the acquisition of the altcoin.
The full commitment to focusing on SUI meant the altcoin was in line to see more chain activity and price growth due to a boost in adoption.
SUI Crypto: All About Its Onchain Activity
Transactions are a fine way to gauge network activity on a cryptocurrency. On August 27th, SUI crypto transactions hit a yearly peak with more than 23.755 million blocks mined. The peak speed, Transactions Per Second (TPS), for this particular period was at 1103 when writing.
Generally, this number has stayed at an average count of 5 million with a few spikes above this threshold since July 2nd as the data depicted.
Messari’s report on SUI crypto sheds more light on this issue. The Total Value Locked (TVL) for SUI crypto protocols shot up by 44% hitting $1.80 billion between Q1 and Q2 of this year. Suilend held the highest TVL (roughly $549 million), followed by Navi and Bluefin. Despite earlier growth by Cetus, the protocol was last among the top ones.
However, on the average DEX volume front, Cetus led with $171 million. The total growth in SUI DEX volume was more than 21%. Altogether, these rising onchain metrics contributed to a 31% surge in the market cap of SUI for the same period.
SUI Weekly Price Action Forming A Potential Double Bottom
Shifting attention to the price action, SUI crypto reflected what was earlier tackled. When writing, SUI crypto was forming a potential floor above the 20 SMA at the $3.30 price level. The zone of the double bottom aligned with where most of the trading volume took place.
On the downside, the altcoin was respecting a descending trendline. A breach was needed to reverse the current sentiment. More important was the fact that the altcoin was above the MTF indicator, indicating the decline was short-term. The key levels for SUI crypto were at $3.89 and above. Also at $3.48 and below.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
