Sui (SUI) Reclaims $1.20 After Passing Six Billion Transaction Blocks
The token climbed from about $1 on Sept. 25 to nearly $1.29 two days later before retreating, while SUI futures open interest reached $422 million.
Sui (SUI) was trading near $1.20 at the time of publication on Sept. 30 after the network passed six billion transaction blocks and futures funding rates rose, increasing the cost of bullish leveraged positions.
SUI moved from about $1 on Sept. 25 to nearly $1.29 on Sept. 27. Sellers then pushed the token toward $1.10 before it recovered to around $1.20.
The six-billion milestone counts transaction blocks, not necessarily individual user actions. A single Sui block can bundle several activities, including token swaps, staking and fund transfers.
Open interest in SUI futures reached $422 million. Rising funding rates meant traders holding bullish positions paid more to keep those contracts open, raising the cost of leveraged exposure if the recovery loses momentum.
Scorechain’s wallet-screening, transaction-monitoring and fund-tracking tools are available on Sui. The functions were built for the network’s object-centric model.
The derivatives data showed traders were taking bullish leveraged positions as SUI recovered from its recent pullback.
