SUI Surpasses TON in Stablecoin Transfers

SUI has crossed TON in stablecoin transfers and daily active address usage, indicating increased market interest.

Performance Overview

Sui (SUI) experienced a 35% drop last month; recently, selling pressure decreased, with only a 3.42% loss noted over the past week.

Market Metrics

Recent data shows SUI’s stablecoin transfer volume has reached approximately $73 billion, outpacing TON’s $49 billion. This growth suggests a preference for SUI within the network.

In daily active addresses, SUI reported 1.8 million compared to TON’s 600,000, signifying robust user engagement and bullish market sentiment.

Key Support Level

On the 4-hour chart, SUI nears a vital support level at $2.23, marked by the Fibonacci retracement line. This level historically led to significant price rebounds.

Traders might anticipate a rally towards $2.50 if momentum persists, especially if SUI re-enters this support zone.

Derivatives Market Activity

Market participants are placing bets, with a slight rise in the Funding Rate at 0.0007 indicating buyers have an advantage. Open Interest has also increased by 2.02% to $618.07 million, suggesting more long positions are emerging, potentially favoring SUI’s upward trajectory.