3 Major Reasons Behind 60% SUI Price Rally in Past Week

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SUI Network's Remarkable Rise

Several altcoins experienced significant growth last week, but the SUI network stood out, outperforming even major cryptocurrencies. Over the past seven days, SUI rallied by at least 70%, propelling it to become the 11th largest cryptocurrency by market capitalization.

Factors Contributing to SUI's Surge

According to Lookonchain, several factors fueled SUI's impressive rally:

• Increased Total Value Locked (TVL): SUI's TVL reached $1.645 billion, a 38% increase in the past week. This indicates a significant rise in user funds locked within the protocol.
• Booming Decentralized Exchange (DEX) Activity: DEX volume on the SUI network surged to $599 million, representing a remarkable 177% increase week-over-week.
• Growing Stablecoin Adoption: Stablecoin activity on the SUI network has also seen substantial growth, increasing from $482 million to $879 million over the past two months (an 82% rally).

With this momentum, SUI is poised to potentially surpass Tron and secure a top-10 ranking.

SUI Price and Future Potential

Earlier this week, SUI's price surpassed both Dogecoin and Cardano, trading at $3.642 at press time—a 22.54% increase in 24 hours. Unlike many other assets, SUI has recovered its losses over the past month, showing a gain of over 44%. Given the current trajectory, a return to its all-time high of $5.351 is a possibility.

The SUI network boasts strong fundamentals, strategic partnerships, and a thriving ecosystem, all contributing to its positive outlook.

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