- Nasdaq’s 21Shares ETF filing for SUI fuels over 300% volume spike, attracting short-term interest and broader investor attention.
- Technical breakout above $3.11 confirms bullish structure; targets set between $3.50–$3.60, with downside risk to $1.85 if trend breaks.
SUI (Sui Network) is trading at $2.57, representing a +7.26% increase in the last 24 hours, despite still being down -17.27% over the past 7 days.
The token is showing signs of recovery from last week’s sell-off, with 24-hour trading volume exceeding $1.23 billion, and a market cap of $8.71 billion, placing it in the top 20 cryptocurrencies globally.
SUI remains 52% below its all-time high of $5.35, but still over 590% above its historical low, indicating strong long-term momentum despite short-term volatility.
A major catalyst behind SUI’s price surge is growing institutional involvement. According to recent reports by ETHNews, Nasdaq has filed for a 21Shares spot SUI ETF, fueling speculation and boosting trading volumes by over 300%, as noted by ETHNews. This has attracted institutional investors and speculators, giving SUI increased visibility on major trading platforms.
Technologically, Sui continues to receive praise for its innovative features. It utilizes the Move programming language, an object-based data model, and the Mysticeti consensus mechanism, which together offer robust scalability and security advantages. Additionally, features like ZK-Login provide unique user authentication methods.
Evan Cheng just dropped 🔥 on Episode 125 of *When Shift Happens* 🎙️
As co-founder & CEO of @Mysten_Labs,
he’s not here to patch crypto’s cracks —
he’s here to **rebuild the foundation** 🧱We unpacked it all:
⚙️ What’s broken under the hood
🏗️ Why infra needs a total… pic.twitter.com/Dkn2Pd27MQ— kianrylle o eroy Tabi 🟧 (@eroy_o) June 20, 2025
Sui is a delegated proof-of-stake (DPoS) chain developed in the Move programming language, created by former Meta engineers — including Evan Cheng and Sam Blackshear. The blockchain distinguishes itself through its use of transaction parallelization, enabling horizontal scalability, where transactions are processed simultaneously (rather than sequentially), significantly improving throughput.
Sui is also making announcement as a lead partner at Korea Blockchain Week 2025, scheduled for September in Seoul. This endorsement underscores its growing ecosystem presence in Asia and its ambition to be a global player among Layer-1 chains.
From a technical perspective, SUI recently broke through a resistance level near $3.11, confirming a bullish breakout with strong volume backing. ETHNews analysts suggest if current momentum holds, it could target the $3.50–$3.60 zone in the short term.
At the same time, forecasts remain mixed: while some platforms see a run toward $4.00 or more, others caution that if support around $2.50–$2.80 fails, a retracement back to $1.85 is possible.
