SUI (SUI) Rises 6% Overnight, Tops the Market Cap Gainers
SUI (SUI) emerged as the top gainer among the top 100 coins by market capitalization, rising by 6% overnight. Here are the key points:
- Near Protocol (NEAR) and Toncoin (TON) also saw gains of 6% and 3% respectively.
- Shiba Inu (SHIB) experienced modest gains of 3%.
- Bitcoin (BTC) and Ethereum (ETH) traded slightly lower.
- BTC briefly dropped below $26,000 and was down 0.2% in the last 24 hours.
- ETH declined by 1.3% and traded at $1,644.
SUI Retraces Last Week’s Highs, Boosted by Developer Grant
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SUI surged last week by more than 20% after the Sui Foundation announced a $900,000 developer grant to 16 projects in the ecosystem. Here are the key points:
- SUI retraced over the weekend but broke above last week’s highs to reach a new weekly high of $0.58.
- The token saw a wave of liquidations and increased spot volumes on Upbit.
- SUI was one of the top-traded tokens on Upbit and had higher 24-hour volumes than Bitcoin.
Hot Take: SUI’s Surge Continues, Boosted by Developer Grant and Increased Spot Volumes
SUI’s recent surge continues as it remains a top gainer in the market. The developer grant from the Sui Foundation and increased spot volumes on Upbit have contributed to its success. As the token trades at a new weekly high, SUI shows potential for further growth in the near future.
