The SUI price has once again approached the $4 resistance zone after rebounding from August lows. This strength is linked to ecosystem growth, new exchange listings, and institutional interest.
Strong Resistance Test for SUI Price
Looking at the SUI price chart, the token has shown a consistent recovery with a structure of higher lows from the $2.40 range in June. Currently, SUI price is trading around $3.93 after briefly spiking to $4.18, representing a 9% surge fueled by breaking news of a new major exchange listing.
Growth of DeFi and Institutional Interest
August has been particularly notable for the SUI Network’s DeFi ecosystem. Data from the defiLlama platform shows that the total value locked (TVL) has surged to an all-time high of $2.29 billion at the end of July, now inching closer to $2.21 billion in August. Additionally, institutional momentum is building, indicating growing trust from established financial players.
Expanding Ecosystem and Exchange Listings
Alkimi, the first fully on-chain advertising platform, announced its move to the SUI Network, opening new use cases for decentralized ad technology. Also, the major news of the day involved the Japanese exchange Bitbank listing SUI with a SUI/JPY trading pair, significantly extending the token’s accessibility to one of Asia’s most active trading markets.
With the current price growth and ecosystem expansion, SUI demonstrates potential for further growth and development amid new interests from institutional investors and exchange trading.
