According to CryptoPotato, Sui (SUI) has experienced a significant price increase, reaching an all-time high of $1.64 on January 30th. The cryptocurrency's market capitalization surpassed $1.8 billion, making it the 48th largest digital asset. This surge in price comes shortly after SUI Wallet announced a partnership with crypto infrastructure provider Banxa. As a result of the partnership, users can now on-ramp with fiat using Banxa's payment solutions, all within the SUI Wallet app. Additionally, users will benefit from zero gateway fees.
Total value locked (TVL) in the Sui network and on-chain trading volume have also been increasing rapidly. According to DefiLlama, TVL reached an all-time high of around $420 million, while the last time trading volume dropped below the $50 million mark was on January 25th. SUI's price jump coincides with an overall market revival, with most leading cryptocurrencies charting substantial gains in the past 24 hours. Bitcoin (BTC) spiked to a three-week high of almost $44,000, while Ethereum (ETH) exceeded the $2,300 level. Cardano (ADA) and Solana (SOL) have performed even better, soaring by 8% and 6%, respectively.