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**SUI (SUI) Price: 60% Weekly Surge Coincides With 38% TVL Growth to $1.645 Billion**
The SUI cryptocurrency has witnessed an astonishing 60% weekly surge, accompanied by a remarkable 38% growth in Total Value Locked (TVL) reaching a staggering $1.645 billion. This unprecedented rally is backed by strong technical indicators, coupled with growing ecosystem metrics and increasing institutional interest.
**Key Insights:**
* **Price Surge:** SUI has experienced an astonishing 60% weekly surge, defying market expectations.
* **TVL Growth:** The cryptocurrency’s TVL has grown by a whopping 38%, reaching $1.645 billion, indicating increased investor confidence and participation.
* **Market Sentiment:** Growing open interest in SUI contracts demonstrates rising market sentiment, with traders increasingly bullish on the asset.
**Technical Indicators:**
* **On-chain metrics reveal a 25% increase in active addresses to 150,000, reinforcing positive sentiment.**
* **Average transaction value has increased by 30%, reaching $1,200 per transaction, indicating higher-value transactions and increased network utility.**
* **The Fear and Greed Index currently reads 72 (Greed), reflecting the overall bullish market sentiment.**
**Ecosystem Growth:**
* **Open interest in SUI contracts has grown by 21.74%, with new positions opening as market participation increases, demonstrating trader engagement and growing confidence in the asset.**
* **Increased open interest is a strong indication of institutional investment and retail enthusiasm for SUI.**
**Market Forecasts:**
* **Some forecasts project that SUI could surge to $9.84 by May 22, 2025, representing a 229% increase from current levels.**
* **Market analyst SolbergInvest believes SUI could reach $10 within the next year, citing consistent upward momentum and growing investor confidence.**
**Institutional Interest:**
* **The introduction of ETFs focused on SUI by companies like 21Shares and Canary Capital could potentially bring institutional investment and further boost the cryptocurrency’s price.**
* **This development may lead to regulatory approval from the U.S. Securities and Exchange Commission (SEC), paving the way for a new wave of institutional investors to enter the market.**
**Conclusion:**
The extraordinary 60% weekly surge in SUI, coupled with the remarkable 38% TVL growth, signals a strong upward trajectory for this cryptocurrency. With growing ecosystem metrics, increasing institutional interest, and unyielding technical indicators, SUI appears well-positioned to continue its upward momentum in both the short and long term.
**Source:**
Source: https://blockonomi.com/sui-sui-price-60-weekly-surge-coincides-with-38-tvl-growth-to-1-645-billion/
