Sui’s TVL hits $1 billion, raising speculation of a potential price rally beyond $1.38.
- Sui’s TVL surpassed $1.03 billion, signaling growing liquidity and increased trust in the network. With rising active addresses and market activity, SUI is positioned to break the $1.38 resistance.
Sui [SUI] has crossed a significant milestone, with its total value locked (TVL) surpassing $1.03 billion on September 19. This achievement reflects growing trust and capital inflows into the blockchain’s decentralized finance (DeFi) ecosystem.
With Sui trading at $1.34, reflecting a 14.84% increase over the last 24 hours at press time, the question now is: could this spark a bullish rally and push SUI’s price beyond its current $1.38?
TVL growth: A Catalyst for momentum
Sui’s rapid rise from $802 million to $1.03 billion in TVL within a short time signals increased confidence in its ecosystem. The accompanying chart shows that Sui’s TVL has experienced consistent growth, particularly throughout 2024, peaking at this $1 billion mark.
TVL is a key metric in DeFi, as it reflects the total capital locked in smart contracts, driving liquidity and attracting developers to the platform.
Reaching $1 billion is not just a psychological barrier—it solidifies Sui’s position among top DeFi protocols. The additional liquidity may entice more users and investors, further boosting the network’s adoption and long-term prospects.
Source: DeFiLlama
Rising active addresses: Growing user participation
Sui has also seen a rise in daily active addresses, increasing from 1.47 million to 1.66 million, representing a 12.93% increase in just one day. This surge indicates growing engagement with the platform’s decentralized applications and services.
A growing user base often translates to more assets being locked into smart contracts, which could sustain the upward trajectory of Sui’s TVL and contribute to future price movements.
Source: SuiVision
Volume and liquidity: signs of a bullish outlook
Sui’s $2.49 billion derivatives volume, up 35.57% in 24 hours at press time, points to increased market activity.
Source: Coinglass
Moreover, the liquidation chart shows $1.49 million in short liquidations versus $534,560 in longs, suggesting a shift in sentiment as shorts are squeezed out.
Source: Coinglass
This indicates potential bullish momentum, especially as trading volumes rise alongside TVL growth.
Can SUI break through $1.38?
Given the rising TVL, increased user activity, and strong trading volumes, Sui is positioned for a potential breakout.
The $1.38 price level is a critical resistance, and if Sui can surpass this, it could signal the start of a sustained bullish rally.
Investors will be closely monitoring whether this momentum can drive prices higher.
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