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**Sui (SUI) Price: July Rally Pushes Token to $3.90 as DeFi Ecosystem Expands**
In a remarkable turn of events, the Sui (SUI) token has soared 44% in the past month to trade at an impressive $3.90 per unit, defying expectations and breaking away from its peers. This unprecedented growth can be attributed to the rapid expansion of the decentralized finance (DeFi) ecosystem, fueling institutional interest and attracting a substantial influx of capital.
The token’s remarkable 30% gain on the week is reflective of this extraordinary momentum, with many market observers attributing it to a clear vote of confidence in the project. Notably, SUI has also outperformed all other major Layer 1 (L1) blockchains, solidifying its position as an emerging leader within the industry.
One of the key factors driving this unprecedented growth is the significant increase in Total Value Locked (TVL), which has surpassed a staggering $2.219 billion mark. This remarkable achievement serves as a testament to user adoption and demonstrates the growing confidence in SUI’s ecosystem. Additionally, monthly fees have surged an astonishing 42% to reach an all-time high of $42,000, mirroring Ethereum’s impressive growth rate.
The rally has been fueled by institutional support, with the unlocking of 44 million SUI tokens (approximately 1.3% of its circulating supply) and the introduction of tBTC and Peg-BTC, which have further strengthened the platform’s DeFi ecosystem. Notably, this strategic move is expected to significantly enhance liquidity, drawing in both retail and institutional investors.
The chart analysis supports this bullish outlook, as SUI trades above all major moving averages, demonstrating a strong upward momentum. The Relative Strength Index (RSI) has reached 71.90, indicating that the token remains overbought but still exhibits robust upward momentum.
Despite reaching the pivotal $3.90 resistance level, analysts predict that SUI could potentially reach the psychologically significant $5 by Q3 2025, buoyed by DeFi growth and increasing institutional interest.
Source: blockonomi.com
