Sui Network, a Layer-1 blockchain, recently reached important milestones, showing its growing impact on its outlook. The network’s native token, SUI, increased its price by 90% from its All-Time Low (ATL) in November.
SUI Price and Key On-Chain Milestones
SUI's recent trading price of $3.75 marks a sustained uptrend. Its market cap has topped $10 billion, recording a new ATH of $3.927. Sui network’s transaction volume reached $1.67 billion, up from a daily average of $395 million last month, showing increased user engagement.
SUI Network Technical Indicators and Forecasts
SUI's technical indicators suggest potential further increases if it breaches the $4 resistance level. The network's Total Value Locked (TVL) surpassed $1.38 billion. Analysts predict that continuing momentum could see the price reach $5 or $6.
Name Service Token Launch and Impact
Key recent developments include the launch of Sui Name Service and its NS token, shifting to a decentralized model and enhancing community participation. All 183,369 holders of SuiNS received airdropped tokens, marking significant community involvement.
In conclusion, Sui Network has strengthened its market position with SUI token price rises, increased transaction volumes, and community engagement through NS token release.
