Break Above $5.0 Imminent for Sui (SUI) as On-chain Activity Rises
On Christmas Eve 2024, the Sui (SUI) bulls continue in power, with the price hovering at $4.60, barely below its record highs of $5.0 earlier in the month.
Despite a significant rebound from the 50DMA last week, SUI continues to find support.
That signals buyers are still interested in the drop, and pressure may be building for an explosive burst over $5.0 in the coming weeks.
SUI Price Analysis
The optimistic Sui price movement shouldn't be a surprise given rising on-chain activity, declining trade volumes, and a structural background that will support crypto markets throughout 2025.
DeFi Llama reports that the USD worth of crypto trapped in smart contracts on the Sui blockchain is approaching $1.8 billion, on-chain volumes are $400 million to $600 million, and perp volumes are returning to their year-high levels.
The blockchain's record year was summarized by Sui's X page on Twitter.
Where Will Sui (SUI) Price Go?
The Sui price is anticipated to break out over $5.0 in the short future.
With Sui already in price discovery, the currency has few price objectives.
A 2x rally to $10 is possible. Sui's market worth is $46 billion completely diluted ($13.5 billion circulating), hence the coin might increase more than 2x.
Sui is now one of the greatest layer-1 protocols in the game, and it has room to catch up to Solana and Ethereum.
The completely diluted market caps of Solana and Ethereum were $116 billion and $420 billion, respectively, and both are expected to grow in 2025.
May Sui attain a fully diluted value in the hundreds of billions this cycle? It's possible if its chain leads web3 adoption, as it is.
If assumptions persist, a $20 Sui price is achievable. It's a solid contender for best crypto to purchase today.
SUI Price Analysis Naturally, crypto investors should diversify their portfolio with a few high-potential coins.
Bitcoin might gain 2x next year or more if strategic reserves rise. Other top tokens like Ethereum and Solana may also do well.
