SUI NETWORK HITS KEY MILESTONE

ACTIVE BLOCKCHAIN WALLETS SURPASSES ONE MILLION

$SUI Network, a Tier 1 blockchain, has recorded a new milestone, driving the SUI price up 10% in the last 24 hours. The number of active blockchain wallets has surpassed 1 million as a result of bullish market movement and wider adoption. The blockchain, which boasts of its architecture of a secure ecosystem of digital assets, has seen an increase in activity reflected in price, wallets and transactions. Network data shows that the number of active wallets has reached 1.03 million.

The SUI network activity can be attributed to the increased bullishness in the market, driven by rising sentiment. As a result, activity in decentralized finance (DeFi) and Layer 1 has surged this month. At the time of writing, SUI is trading at $1.12. This has led to a market capitalization of $2.63 billion with daily volumes exceeding $165 million. The SUI price has been heavily influenced by a 43.4% increase in trading volumes, signifying a huge growth in the asset.

Crypto-enthusiasts on social media are predicting a resumption of market activity, targeting $2. This comes after the token hit a record high of $2.18 on March 27 due to increased flows in the first quarter of 2024. Despite being down 48.83% from its all-time high, bulls on the SUI network are showing positive momentum after stable flows over the past six months.

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