SUI Hits $100B Trading Volume: SUI price to Hit $24 by Mid-2025?

SUI hit a heights in trading volume recording $180 Billion in November, the highest in its trading history. This is also a significant milestone for the cryptocurrency.

This surge in volume marked a massive increase, cumulatively adding over $141 Billion to its yearly total. Since May, SUI has shown consistent growth in trading activity month-over-month, with each successive month outperforming the last.

Since May 2023, trading volumes was relatively modest. Also, there has been a clear bullish trend in market engagement.

By mid-year, trading volumes began to pick up significantly, reflecting growing investor interest and confidence in SUI. Each subsequent month saw higher volumes, culminating in the record-breaking spike in November.

This trajectory highlighted the SUI’s increasing relevance. The steep rise in November surpassed previous monthly figures substantially and set a new standard for trading activity.

This record performance suggested a strong end-of-year rally for SUI, with heightened market participation and potential for continued growth.

Solana, Sui Network fractal

The recent trading patterns for SUI suggested a fractal alignment with historical Solana (SOL) price movements, highlighting a potential path for SUI to reach $24 by mid-2025.

Solana’s rise is depicted through its surge following a decisive 100/200-day moving average crossover. SUI has recently mirrored this move.

SUI’s current trajectory on the daily chart shows a similar explosive uptrend, similar to that of Solnana’s recent trend.

Solana’s chart from early 2021 showed the price action that followed the moving average crossover led to repeated new highs.

If SUI continues to replicate this pattern, the projection sees SUI reaching the $24 mark by 2025.

The similarity rests in the moving averages as well as the price support and resistance levels.

As Solana once moved sharply from a consolidation phase to peak levels, SUI’s current consolidation just above the recent moving average crossover suggests a buildup for a similar bullish run.

SUI Price Outperforms SOL by Gains as Lending Protocols on Ecosystem Grow

Sui’s market performance continued to mirror Solana’s early days, albeit with more substantial market capitalization and quicker growth in Total Value Locked (TVL).

Notably, Sui’s TVL grew more rapidly; where Solana’s TVL was just under $150 Million at a similar stage, Sui’s TVL has skyrocketed to $1.6 Billion.

In terms of market cap SUI outshines $10 Billion, dwarfing Solana’s Q1 2021 market cap of $2.3 Billion. During early 2021, Solana’s value increased as Bitcoin’s dominance dropped by 10%.

Contrastingly, Sui’s price rose from $1 to $3.9 even as Bitcoin’s dominance increased by 5%. This suggested that Sui could surge dramatically once Bitcoin’s dominance begins to decline.

Additionally, there was divergence from market dynamics. Sui appreciated while Bitcoin dominance rose steadily—a scenario contrasting sharply with Solana’s pump during a decline in Bitcoin’s market share.

Additionally, Sui Network‘s DeFi continued to show growth. SuiLend protocol rapidly ascended to become the largest lending protocol on the network, with a TVL at $384 Million.

Closest competitors like Scallop and Navi TVLs lagged at $192 Million and $353 Million respectively.

The exponential growth in SuiLend’s TVL indicates increasing trust and utilization within the ecosystem. This provides a solid foundation for $SUI’s potential price ascent to $24 by mid-2025.

With SuiLend leading the charge, Sui’s ecosystem has shown resilience and innovation, drawing comparisons to Solana’s trajectory. It is accelerating at a pace that suggests a potentially more aggressive growth curve.

These dynamics provide a strong foundation for predictions of Sui reaching a price target of $24 by mid-2025.

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