With A 27% Weekly Rise, SUI Is Leading The Cryptocurrency Market

Sui (SUI) price surged 13% in a single day, closing at $1.02 on September 12. Sui has increased by more than 27% during the past seven days as part of a general rebound that started on September 3.

TradingView data reveal that SUI increased from a low of $0.9274 on September 12 to an intraday high of $1.07, rising as much as 15%.

The entire crypto market valuation has increased to $2.02 trillion, up 1.15% from SUI. As a result, according to market capitalization, SUI has gained the most among the top 100 cryptocurrencies in the last 24 hours, thanks to its performance.

Investors can now access SUI through the Grayscale SUI Trust, which Grayscale formally disclosed on September 12. All qualified, accredited investors can now invest in the trust.

DefiLlama statistics show that Sui is still one of the top 30 layer-1 blockchains, with over $711 million in total value locked (TVL) on the network. The following chart illustrates how SUI's TVL increased by 107.5% between August 5 and September 12, more than doubling in the previous month.

In his most recent SUI analysis on X, pseudonymous crypto analyst Cryptorphic stated that SUI demonstrates strength as it nears a critical resistance level.”

Cryptorphic was referring to the recent two rests near the $1.025 level. The upper boundary of the rising channel, or $2.58, is the upside target, and a breakout above this level would “unlock a major upside potential,” according to their analysis.