Sui, the native token for Sui Blockchain, rose 5% on Wednesday after the project announced it would introduce its first native stableecoins, USDI and Suiusde.
The announcement comes at a time when investors show renewed interest in SUI, which now surpasses the wider crypto market. Coindesk 20-index-one target with top digital assets increased by 2.5% in the same 24-hour period.
SUI climbed from $ 3.42 to $ 3.58 in the session, with technical signals showing clear Bullish Momentum. The token broke through key resistance to $ 3,56 and established new support for $ 3.55, supported by Rising Trading Volume.
Running the rally is signs of growing institutional adoption. COINBASE -DERIVATER plans to list the sui futures contracts on October 20 and opens the door to several professional dealers to take up positions in the token.
The retail need is also growing. In South Korea, T’Order- A Payments Platform focused on the restaurant industry-for recently integrated SUI to enable transactions using a Korean-Won StableCoin. This movement seems to have given rise to an increase in volume, with activity that pigs past daily average in the early Asian trade times.
From a technical point of view, SUI has traded within a range of $ 0.19 between $ 3.39 and $ 3.58. An early breakfast of 10.87 million tokens exceeded 10.44 million daily average, suggesting strong accumulation. The diagram shows a number of higher low lower – a classic signal of an uptrend.
If the purchase pressure continues, SUI could soon test the psychological $ 3.60 mark. Currently, it is one of the best priest tokens on the market, drawing strength from both product development and in -depth institutional ties.
