SUI Token Rallies on TVL Surge and Ecosystem Growth

SUI rose 3.85% to trade at $3.1110 on Monday, following a strong uptrend that pushed the token through key resistance levels. It reached an intraday high of $3.1554 before consolidating above $3.11, supported by heavy trading volume. The price action showed strong buyer interest, particularly around $3.12, signaling potential for continued bullish momentum.

Crypto analyst Michaël van de Poppe highlighted SUI as “super interesting as an ecosystem,” citing major on-chain developments. The supply of stablecoins on the Sui network has jumped from $400 million in January to nearly $1.2 billion. Total value locked (TVL) has soared to $1.8 billion, placing Sui third among non-EVM chains. User adoption is accelerating, boosted by Phantom wallet integration and the launch of Slush, SUI’s rebranded wallet.

SuiLend, the ecosystem’s lending protocol, saw its TVL rise 90% over the past month, now surpassing $600 million. Van de Poppe pointed to $3.30 as a critical liquidity zone that could trigger further gains if breached.

Technically, SUI showed a 6.09% intraday range between $2.9742 and $3.1554. The breakout above $3.08 established new support around $2.96–$2.97. Volume exceeded 12 million units between 01:00 and 07:00 GMT, confirming accumulation. A spike above $3.12 at 13:56 GMT saw over 1 million units traded in minutes, helping form a fresh support band at that level.

As the session ended, SUI continued its upward move from $3.09 to $3.13, closing with bullish continuation patterns intact. With increasing TVL, wallet activity, and bullish sentiment, SUI appears poised for a potential breakout above $3.30.