Sui's price has risen 30% in the last week

Its TVL is up $400 million from its early August lows of about $340 million

Does that make $SUI a good investment? ⬇️

Up-and-coming layer-1 blockchain protocol Sui (SUI) has seen significant gains recently, with the SUI price increasing by 30% in the past week to reach $1.35

This price surge aligns with a significant increase in crypto asset inflows to the blockchain

@SuiNetwork (TVL) in smart contracts has risen to approximately $808 million, up from around $340 million in early August

Sui adoption is likely to continue surging

Circle’s native USD stablecoin, USDC, will soon arrive on the blockchain, substantially enhancing its utility for crypto users

Per an announcement on X, @circle announced that Sui would soon be added to the Cross-Chain Transfer Protocol

Macro factors could benefit major cryptocurrencies, including Sui

The Fed is starting a new rate-cutting cycle after raising rates to multi-decade highs in 2023 to curb inflation

Short-term volatility is expected as markets speculate on a 25 or 50bps cut, but the trend is clear: lower US interest rates and a more favorable liquidity environment are on the way

If the US economy avoids a recession, tis should be positive for risk assets

What's in store for the $SUI price?

Sui's break above the $1.20 resistance could push it to yearly highs of $2.17, potentially doubling its value in the near term, making it a strong buy

Sui Price Jumps 35% After $400 Million Inflow With a market cap of $3 billion, there's significant growth potential if adoption accelerates.

Advocates believe Sui could reach a market cap in the tens of billions, making a $10 SUI price feasible