As Cointelegraph reported, Sui (SUI) price rose 13% to $1.02 on September 12. Since September 3, SUI has risen by more than 27%.
Data shows that SUI rose 15% from a low of $0.9274 on September 12 to an intraday high of $1.07. SUI became the highest gainer among the top 100 cryptocurrencies by market capitalization.
The increase in demand for SUI may have been driven by Grayscale’s announcement of the Grayscale SUI Trust on September 12, which attracted investor attention and is now open to all qualified accredited investors.
Sui remains one of the top 30 layer-1 blockchains with over $711 million in total value locked (TVL) on the network. TVL has grown by 107.5% over the past month.
Analyst Cryptorphic said that SUI is approaching a critical resistance level of $1.025 and a break above this level could bring significant upside potential. Another analyst Bmoon predicted that the SUI price could reach $3.60 in the fourth quarter of 2024.
