The Layer-1 network SUI continues to draw robust demand, approaching all-time high levels. What are the reasons behind the rise of SUI Coin?
SUI Coin Price Increase
SUI Coin has recorded a 140% increase in the last 30 days, having risen 266% from its yearly low reached in August. Interest in alternatives to Solana 
$199 has long been predicted to yield significant gains in this cycle.
According to the blockchain data platform Artemis, daily transactions on the SUI network increased from 4.1 million to over 9 million since the beginning of October, demonstrating a more than double growth. More transactions on the network indicate increased liquidity, suggesting support for altcoin price increases.
SUI Coin Predictions
On Monday morning, the cryptocurrency exchange Bybit announced its support for SUI Coin on its Launchpool platform, making SUI the second network after Mantle to be featured. Bybit’s Spot and Web3 Head Emily Bao stated:
“Recently, with the strong development of the SUI ecosystem, we quickly listed NAVI protocol, one of the leading projects in the SUI ecosystem. We initiated staking for the SUI token pool on our Launchpool platform. This move marks Bybit’s first mining pool beyond the native tokens of the Mantle ecosystem, and SUI is just the beginning. In the future, we will introduce more ecosystem token pools based on project features and ecosystem development, supporting growth.”
Circle, the company behind USDC, recently announced that it will support the world’s second-largest stablecoin by market capitalization on the SUI network.
“SUI enables developers to create applications for various use cases, including DeFi, gaming, DePIN, and e-commerce. With the arrival of USDC, developers can realize their projects with the largest regulated dollar-backed stablecoin in the industry.”
Macro expert Raoul Pal recently indicated that SUI could be among the ‘chosen ones’ for the next cryptocurrency market rally.
The Sui network is growing with strong market performance, increased transaction volume, and support from significant cryptocurrency exchanges. With its enhanced position in the crypto market, SUI Coin could break new all-time records. The opportunities it offers for developers and investors are increasing its potential for future growth.
