Key Highlights SUI is currently trading around $1.15, maintaining position above the critical $1.00 support zone that previously acted as a resistance barrier. The Sui Network announced a str
The SUI token is currently valued at $1.15, experiencing a modest 0.93% decline over the last 24 hours. The cryptocurrency maintains its position above the psychologically important $1.00 threshold that market participants have been monitoring intently.
Sui Price
This $1.00 price level has undergone a significant transformation, shifting from a resistance barrier to a support foundation. Market bulls drove prices to peak between $1.25 and $1.30 before encountering selling pressure from traders taking profits.
Beyond price action, Sui captured attention with strategic developments. The blockchain platform revealed that ONE Championship will serve as a Platinum Sponsor for Sui Basecamp 2026, scheduled to occur in Singapore.
Where will the next billion Sui users come from?
Our bet is a billion people watching a fight, one app away from their first Sui transaction.@ONEChampionship and @officialSUIG join us as Platinum sponsors, with @SlushWallet joining as a Gold sponsor at Sui Basecamp.
— Sui (@SuiNetwork) September 29, 2026
The Sui Network’s official social media presence on X announced this collaboration. The announcement emphasized that “the next billion Sui users” might emerge from sports enthusiasts who are merely one application away from experiencing their initial blockchain interaction.
This strategic alliance provides Sui with another compelling real-world use case narrative. The partnership positions the blockchain platform before a substantial sports audience in advance of TOKEN2049 Singapore.
According to CoinGlass analytics, open interest has climbed beyond the $1 billion threshold. This represents one of the most impressive figures documented in the past several months.
When open interest increases concurrently with price appreciation, it typically indicates fresh capital flowing into the market. This metric also suggests heightened activity from derivatives traders establishing positions in SUI.
Trading activity has expanded substantially as well. Derivatives trading volume is approaching $3 billion, a figure considerably higher than the levels observed throughout most of August.
During the upward price movement, short liquidations occurred frequently. This phenomenon emerges when traders who wagered on declining prices are compelled to exit their positions as the token’s value rises.
Some long liquidations materialized subsequently. This pattern indicates that certain market participants secured profits after SUI reached the $1.30 vicinity.
Raoul Pal, who co-founded Real Vision and serves as a board member for the Sui Foundation, shared his thoughts about Sui during an appearance on the Milk Road podcast. He forecasted that the smart contract sector will eventually consolidate to a small group of dominant players, with Sui among them.
Pal drew parallels between blockchain platforms and cloud computing services or programming languages, noting that typically three to five market leaders capture the majority of market share. He acknowledged Ethereum’s current dominance, controlling approximately 70% of stablecoin circulation and over 70% of decentralized finance operations.
He highlighted three technical capabilities he considers competitive advantages for Sui: programmable transaction blocks enabling up to 1,024 operations within a single transaction, zero-cost stablecoin transfers, and built-in privacy features along with quantum-resistance preparation.
SUI: GOLDEN CROSS. TARGET $4.$SUI is on the verge of printing a new golden cross, with the 50-day SMA beginning to cross above the 200-day SMA.
This is typically viewed as a major bullish trend signal and could mark the beginning of a longer-term bull market.
The last two… pic.twitter.com/heg6LwERoN
— Ali Charts (@alicharts) September 29, 2026
Technical analyst Ali Charts also provided insights on the chart patterns forming. Ali Charts shared that SUI is approaching a golden cross formation, which occurs when the 50-day moving average rises above the 200-day moving average, and observed that the previous two golden crosses in December 2023 and October 2024 preceded rallies of approximately 240% and 222% respectively, suggesting that a comparable move could propel SUI toward the $4 level.
Pal mentioned that Sui presently attracts between 150,000 and 250,000 daily active participants. He emphasized that achieving 1 million users would represent a more significant milestone for Sui compared to Solana, which already commands a substantially larger user community.
Currently, market participants continue focusing on the $1.00 support level as the critical floor, while $1.30 represents the immediate resistance zone above present price levels.
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