Sui Price Surges 10% As Vanguard Group Adds SUI to Bitwise 10 Crypto Index

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Sui Price Surges 10% As Vanguard Group Adds SUI to Bitwise 10 Crypto Index

Highlights

  • Vanguard’s inclusion of SUI sparks investor interest and a price surge.
  • Coinbase listing approval for New York residents boosts Sui price.
  • SUI hits $2B in 24-hour trading volume, strong momentum.

 

Sui price surged 6% over the past 24 hours, reaching $1.70. The cryptocurrency experienced a breakout from a falling wedge pattern, signaling a bullish trend. This boom is after Vanguard Group decided to include SUI in their Bitwise 10 Crypto Index, enabling an investor to show interest. Sui has increased by more than 20% in two days, with a 24-hour trading volume increased by 73%. The overall crypto market was also soaring, which gained SUI more ground.

Why Is Sui Price Up Today?

Sui price saw a notable price surge today, fueled by key developments in the cryptocurrency market.  Vanguard Group has officially incorporated $SUI to its Bitwise 10 Crypto Index, which will be a major step in the integration of cryptocurrencies. This action underlines the increased interest of Vanguard in digital assets.

The biggest breakthrough was the fact that after overcoming regulatory hurdles, Sui got listed on Coinbase to the New York residents.

This innovation will enable the people living in the state to trade SUI on the platform to a positive market response.

Moreover, the crypto market in general displayed indications of a revival, and significant growth was observed in large currencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE).

Sui has performed better than most of its peers because the larger market has increased by 1.63 percent in the last 24 hours and 4.16% in the last week. This is an upswing that comes after SUI had a token unlock event, which further adds to the price movement of the asset.

SUI Achieves Record $2B in Trading Volume in Just 24 Hours.

The SUI token was recently trading at an impressive 2 billion over the last 24 hours. This is the largest daily volume in last one month, indicating a jump in the market activity.

Sui Price Surges 10% As Vanguard Group Adds SUI to Bitwise 10 Crypto Index
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This achievement is an indication of the increasing interest and trading momentum of $SUI, which implies great prospects of performance in the future on the market.

Can Sui Price Break $1.80 Resistance?

The Sui price hovered at $1.69, showing a significant surge in the past 24 hours. The rise comes after a period of consolidation, where Sui is touching on major support levels. 

The price has since increased to reach the resistance zone at $1.80, which is an indication of a breakout.

The target price of Sui is currently considering a target of $1.80 as the possible resistance market, and the second level is $2.00. On the negative side of the situation, the support zones are at $1.60 and $1.50. 

If the Sui price holds above $1.60, Sui could continue its upward trajectory as the Sui long-term prediction remains bullish.

Sui Price Surges 10% As Vanguard Group Adds SUI to Bitwise 10 Crypto Index
Source: SUI/USD 4-hour chart: Tradingview

The Relative Strength Index (RSI) is 63, indicating that the coin is in a bullish trend. In the meantime, the MACD is also positive with the blue line crossing the orange line, which shows the market outlook is favourable.

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Frequently Asked Questions (FAQs)

1. What is the Bitwise 10 Crypto Index?

The Bitwise 10 Crypto Index tracks the top 10 cryptocurrencies by market capitalization, offering exposure to major digital assets. Vanguard added SUI to this index.

2. What impact did Vanguard’s decision have on Sui?

Vanguard’s inclusion of SUI in the Bitwise 10 Crypto Index sparked significant investor interest, contributing to the recent price surge.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

SUI

Sui

$1.66629807 3.53% (24h)

24 Hours volume

$1.42B

Market Cap

$6.23B

Max Supply

10B

Buy $SUI with MEXC
About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.