TL;DR
- SUI Price Milestone: SUI reaches a new high in price and market capitalization.
- Growing Interest and Metrics: There’s rising interest in SUI and strong on-chain performance indicators.
Sui (SUI) is among the best-performing cryptocurrencies today (January 15), tapping an all-time high price of $1.43 (per CoinGecko’s data). The last time it reached the $1.4 level was in May 2023 – shortly after the mainnet launch of Sui Network. SUI’s market capitalization surpassed the $1.5 billion mark, making it the 51st largest digital asset.
The asset’s current upswing comes amid a time of a broader market correction, which followed the historic (yet hectic) approval of spot Bitcoin ETFs in the United States. BTC has experienced a decrease in the past few days, while on-chain metrics of Solana, Cardano, and more are far from the December heights.
This is not the case with SUI. According to DefiLlama, total value locked (TVL) on the Sui network soared today to a peak of almost $350 million, whereas trading volume has been hovering between $30 million and $76 million in the past week.
The price rally of SUI coincides with a rising interest from industry participants. The Singaporean crypto exchange Jubi revealed that the token was the third-most searched coin last week (January 8 – January 14), trailing behind Bitcoin (BTC) and Ethereum (ETH).
📈Most searched coins last week on #Jubi (January 8 – January 14)
💥 $BTC @Bitcoin
💥 $ETH @ethereum
💥 $SUI @SuiNetwork
💥 $METIS @MetisDAO
💥 $ENS @ensdomains
💥 $SOL @solana🥰Which are your favorites?
💰Trade on Jubi: https://t.co/wSzA3eNtht#Crypto #Bitcoin #Ethererum… pic.twitter.com/fqdb7xY3RN— JUBI (@JBEXCOM) January 15, 2024
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