An uptick in protocol fundamentals appears to back the 300% rally in SUI price.
SUI, the native token of the Sui layer 1 smart contract platform is making waves in the DeFi sector after posting a 300% move in three months.
SUI price and traders’ attention fell to the wayside in October 2023 amid allegations of supply manipulation from South Korean regulators, but recent technical and on-chain data suggest that SUI’s recent price reversal is based on improving fundamentals.
A rising tide lifts all ships and it is clear that SUI has benefited from the recent bullish momentum seen across the wider crypto market. What’s more important is to pinpoint any changes in metrics that reflect the health, growth and sustainability of the project’s ecosystem.
