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The SUI token is positioned as one of the biggest surprises of 2024 in terms of performance. During the early hours of this Thursday, the native Cryptocurrency of the eponymous blockchain reached a new all-time high (ATH) of $4.85, at 03:40 GMT.
According to data from CoinMarketCap, SUI records an impressive performance of +9.7% in the last 24 hours, currently standing at $4.64. In the last 30 days, the token accumulates an increase of more than +52.8%, consolidating its position as one of the most prominent cryptocurrencies of the year.
These numbers are outstanding for an asset that has been on the market for a relatively short time. Part of this growth is attributed to organic factors related to the development of its blockchain network, distinguishing SUI from other cryptocurrencies whose rise relies heavily on speculation.
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The strength of the SUI ecosystem supports the demand for its token, with a market capitalization that exceeds $13.4 billion, placing it in 16th place in the global ranking.
The price of SUI continues in a strong upward trend that already adds a return of +635% during the last year ending this December 12. Source: CoinMarketCap
What to expect from the SUI token in 2025?
SUI’s price growth finds a solid foundation in the development of its network. In particular, activity on blockchain decentralized exchanges (DEX) drives notable trading volume, strengthening its ecosystem.
According to data from DeFiLlama, the total value locked (TVL) in the SUI DeFi ecosystem amounts to $1.8 billion, establishing itself as one of the fastest growing networks since its launch in mid-2023.
Although relatively new, the SUI blockchain is already considered a potential “Ethereum killer”, a title reserved for networks with high expectations in the industry. This positioning fuels investor optimism and reinforces confidence in the token.
From technical analysis, SUI’s outlook is clearly bullish. According to CoinCodex, 22 of the 24 technical indicators support a positive trend, while the sentiment index reflects that 92% of the market expects an increase in its value.
In terms of predictions, CoinCodex estimates that SUI could reach $18 by January 2025, although this forecast depends on technical factors and is subject to the influence of external events that could modify it.
Disclaimer: This work is for informational purposes only and should under no circumstances be taken as an invitation or investment advice. Cryptocurrencies are highly volatile assets and placing capital in them can lead to total losses.
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