Today, the cryptocurrency market is showing recovery: Bitcoin hit a new record, and Sui is strengthening significantly amid a major listing.
Bitcoin Hits New Record
Amid the overall revival of the cryptocurrency market, Bitcoin (BTC) has surged over 5% in the last 24 hours, hitting a new all-time high of $93,434. Following Bitcoin, several altcoins have also begun to speed up, including Sui (SUI), which has strengthened by 7.30%, trading at $3.35.
VanEck SUI Listing - A Major Development
Asset management firm VanEck has recently launched a SUI-ETN on the Euronext exchanges in Amsterdam and Paris, giving European investors the opportunity to invest in the rapidly developing SUI blockchain without needing to purchase the token itself. The ETN is now available in locations such as Germany, France, and Sweden, indicating growing institutional interest in the SUI ecosystem, potentially aiding its further distribution and utilization across Europe.
SUI's Technical Breakout and Growth Prospects
In addition to the positive news from VanEck, SUI has shown a technical breakout on the 30-minute chart, breaking through the resistance level of $3.32 and exiting a consolidation zone. This helps reinforce recent price levels and supports further upward momentum. The last time SUI broke out of a similar consolidation zone, it rallied over 40%. The current setup could lead to increases toward resistance levels at $4 and possibly $4.50 in the future.
With support at $3.32 and favorable news from VanEck, SUI is positioned for further growth. However, it's important to monitor overall market dynamics and volatility, which could affect SUI trends.
