SUI's price increased by 5.16% in response to Bitcoin's record highs and a recent partnership with Axelar Network.
SUI Growth and Bitcoin Influence
SUI experienced a 5.16% intraday rise, driven by Bitcoin's record rally. This price surge highlights SUI's responsiveness to market trends, reflecting a broader interest fueled by Bitcoin's record levels.
SUI Partnership with Axelar
The collaboration between Mysten Labs and Axelar, announced on May 8, 2025, emphasizes cross-chain interoperability. "Sui’s integration into the Axelar Network marks a significant milestone in expanding cross-chain interoperability, enabling developers to build applications that reach users across multiple blockchains," said Evan Cheng, CEO of Mysten Labs.
Outlook and Conclusion
Despite the lack of new institutional investments or direct regulatory updates, the SUI and Axelar partnership could stimulate future blockchain applications. Analysts anticipate this cooperation will generate sustained growth amid Bitcoin-inspired optimism and increased trading volumes.
In conclusion, the SUI and Axelar partnership along with Bitcoin's recent growth creates favorable conditions for SUI's further development and interoperability with other blockchains.
