SUI, the native token of the Sui blockchain, climbed 5% over the past 24 hours following the announcement of the platform’s first native stablecoins, USDi and suiUSDe. This growth outpaced the broader crypto market, which rose 2.5% during the same period, according to the CoinDesk 20 index.
Bullish Momentum Driven by Institutions and Technical Signals
Technical analysis indicates strong buying pressure, supported by institutional interest and growing integration with South Korea’s payment platform, t’order, which allows restaurants to process transactions in the new stablecoin.
SUI traded between $3.42 and $3.58 during the session, breaking a key resistance at $3.56 and establishing support at $3.55 amid rising trading volumes. A surge of 10.87 million tokens in the morning exceeded the daily average of 10.44 million, signaling significant accumulation. The chart reflects a series of higher lows—a classic indicator of an uptrend.
Institutional Adoption Boosts Token Demand
Coinbase Derivatives plans to list SUI futures starting October 20, paving the way for professional traders to take positions in the token. This institutional adoption is reinforcing market confidence and liquidity.
Meanwhile, retail demand continues to strengthen. The integration of SUI into t’order for real-world payments has driven transaction volumes above daily averages during Asian morning trading hours, highlighting growing practical utility.
Market Outlook
If current buying momentum persists, SUI could soon test the psychological $3.60 level. The token currently ranks among the top-performing assets in the market, drawing strength both from product development and expanding institutional partnerships.
