Here’s Why Sui Price is Rising: Can the Rally Sustain?

SUI crypto price has been on the investors’ radar, as evidenced by the robust surge in the crypto’s price recently. Over the past week, the crypto has added nearly 40%, suggesting the soaring confidence of the investors towards the asset.

Meanwhile, a flurry of factors might have helped gains in the token’s price, including the latest move of SUI Group Holdings (SUIG). In addition, a renowned market expert has also hinted towards a continuing rally in SUI price ahead, which has further bolstered market confidence.

Why is SUI Crypto Price Rising Today?

SUI price was up more than 40% over the past seven days, touching a high of $1.41 on May 11 from a monthly low of $0.8866.The trading volume also increased significantly by around 20% over the past 24 hours to $2.21 billion.

Notably, the leading on-chain analytics platform, Santiment, has highlighted the recent surge in the SUI crypto price. The platform said SUI Group Holdings triggered the surge through a major treasury move.

Meanwhile, the company has transferred its entire 108.7 million SUI treasury from decentralized finance protocols into direct staking on May 10. This move has significantly reduced the token’s liquid supply in the market.

The treasury shift is notable because it effectively removed around 2.7% of SUI’s circulating float from active trading. With nearly 74% of the token supply already staked before the transfer, analysts believe the additional supply lock-up intensified scarcity conditions, helping fuel upward price momentum.

Santiment highlighted that this type of rally differs from the typical retail-driven crypto pump often fueled by social media hype and speculative buying. Instead, the analytics firm suggested that the current surge reflects soaring institutional interest and long-term confidence in the network.

CME Group SUI Futures Launch Boosts Optimism

One of the biggest developments is the upcoming launch of SUI futures by CME Group on May 29. The move is expected to give institutional investors regulated derivatives exposure to SUI.

Meanwhile, investors often view CME listings as a sign of growing institutional legitimacy for any asset. Having said that, the launch of futures products can also improve liquidity, expand market participation, and boost the crypto’s appeal among market participants.

The recent partnership with Paga could be another reason behind the recent surge. Notably, the partnership was aimed at offering cross-border payments across Africa.

Can SUI Price Continue to Rally?

Amid the recent surge in the SUI crypto price, renowned market expert Peter Brandt has further bolstered market confidence. Brandt has recently shared a SUI price chart, highlighting a major bottom for the crypto at the $0.95 level.

Highlighting the chart, the expert said that the price may continue its rally in the near future and hit a “substantially higher” mark from the current levels. This comment has boosted the market sentiment, which was eagerly looking for cues on the potential future movement of the token.

However, CoinGlass data showed that the SUI Futures Open Interest fell around 2.5% today to below the $1 billion mark. So, the investors should exercise due diligence, as some investors might book a profit after the robust rally in the SUI price recently.