The price of the cryptocurrency SUI has noticeably increased against the backdrop of new initiatives in DeFi and institutional interests, creating favorable conditions for further growth.
Launch of tBTC and Liquidity Levels
On July 14, SUI surged over 10%, rising from $3.44 to $3.99, before correcting to $3.84. This increase was driven by the launch of tBTC on the Sui platform, making it the first non-EVM chain to enable the direct minting of Bitcoin-backed assets.
The Role of ETFs in SUI's Growth
Growing interest in ETFs is also enhancing SUI’s position. Nasdaq’s filing for the 21Shares' spot SUI ETF, currently under review by the SEC, adds institutional weight to confidence in Sui.
Technical Advantages of SUI
According to a Grayscale report, Sui processes 297,000 transactions per second, significantly increasing its attractiveness compared to competitors. This technical approach allows Bitcoin holders to engage in financial activities without facing the delays typical of Ethereum.
The recent surge in SUI highlights its unique positioning in the DeFi landscape, combining Bitcoin liquidity with institutional-grade efficiencies. This direction could further strengthen the platform.
