SUI price skyrockets to a new ATH, what drives it?
The price of SUI has surged to an all-time high (ATH) due to several key factors. First, the rapid development of Sui technology and ecosystem has attracted strong attention from the community, while also helping the price of SUI to grow significantly. The price of SUI is trading around 4.7 USD, indicating a strong recovery after a decline.
Second, the total value locked (TVL) of Sui has reached a record 1.72 billion USD, reflecting investor confidence in the attractiveness of the Sui ecosystem and the increase in trading activity in DeFi products. As TVL rises, this usually creates upward price pressure for the underlying asset, and SUI has recorded this in the current period.
Finally, Circle's partnership with Sui to integrate USDC is also a major driving force, enhancing liquidity and expanding the application potential of SUI, making it more attractive in the eyes of investors and developers.
