SUI price has surged more than 9% today after closing in the red for the past three days. The price now looks set to continue its broader bullish momentum after bouncing off support around $1.70.

This strong support level is one reason for the price increase. However, there are also other positive on-chain metrics that are fueling this rally.

Increased interest and activity in the SUI ecosystem

Joshua Orhue, known on Twitter as @JoshuaOrhue_, recently reported on a significant development in the SUI ecosystem, stating, “BREAKING: 24-HOUR DEX TRADING VOLUME IN $SUI HAS REACHED AN ALL-TIME HIGH OF $221.3 MILLION.”

This spike in trading volume indicates increased interest and activity among traders, which is often correlated with price increases. High trading volume can indicate investor confidence and the potential for further price increases.

In addition, King.sol recorded another impressive figure. According to him, SUI has reached 746 thousand transactions per day, surpassing Solana with lower fees and faster speeds. This also comes with no failed transactions. This points to the efficiency and reliability of SUI, which can attract more users and investors, thus pushing the price higher.

In another tweet, King.sol added that a $10 billion market cap for $SUI is not far-fetched. He considers the blockchain to be the fastest with user-friendly features and the highest daily transactions.

With SUI currently holding a market capitalization of $5 billion, the prospect of reaching a market capitalization of $10 billion would represent a significant 2x increase. This optimistic outlook, coupled with the blockchain’s performance metrics, suggests that the growth momentum could continue, further boosting investor sentiment.