Sui Surpasses Toncoin in Key Metrics, Eyes Recovery
Key Takeaways
Sui (SUI) has gained market strength in recent weeks, surpassing Toncoin (TON) in key metrics. The number of daily active addresses and the volume of stablecoin transfers on the SUI blockchain have increased significantly. At the same time, the price is approaching an important support zone, which could favor a potential recovery.
SUI Surpasses TON in Stablecoin Transfers
Recent market data shows that the stablecoin transfer volume on the SUI blockchain has risen to approximately $73 billion. In comparison, TON stands at $49 billion. This trend suggests that more users prefer SUI for transactions, which could further strengthen network activity.
In addition to the increased transaction activity, there is also a significant difference in the number of daily active addresses. While SUI currently records around 1.8 million active addresses, TON has only 600,000. This discrepancy indicates growing adoption of the SUI blockchain.
Technical Analysis: Key Support in Focus
On the 4-hour chart, SUI is approaching a crucial support level at $2.23. This level has previously proven to be a strong turning point. During the last two touches of this level, the price experienced significant increases. If SUI reaches this level again, an upward trend could emerge, with an initial target of $2.50.
Increasing Market Activity in Derivatives Trading
The derivatives market is also showing increasing activity. The funding rate, which measures the balance of power between buyers and sellers, currently stands at 0.0007. A positive value indicates that buyers are gradually gaining control.
At the same time, open interest – the total value of all open derivative contracts – has risen by 2.02% in the last 24 hours to $618.07 million. Such a development suggests growing buying interest and could further support the price.
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Our Assessment
Current market data shows increasing adoption of the SUI blockchain. The rising number of active addresses and the high stablecoin transfer volume indicate growing usage. From a technical perspective, the support level at $2.23 could play a crucial role in a potential recovery.
If market sentiment remains positive and buying interest continues to rise, SUI could experience a short-term rebound. However, it remains important to closely monitor market developments and consider potential risks.
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