Sui Price Eyes Breakout Above $0.76 as DeFi TVL Hits New High

The price of Sui (SUI), the native cryptocurrency of the Sui blockchain, is showing signs of potential breakout above $0.76 as DeFi activity on the network continues to strengthen.

A recent surge in total value locked (TVL) has reached $444 million, according to MSB Intel, and analysts attribute this growth to rising liquidity in Sui's lending protocols, decentralized exchanges, and staking services.

The current price of SUI is $0.7597, having gained 2.42% over the past 24 hours, with a trading volume of $271 million and a market capitalization of $3.09 billion.

Einstein, a crypto analyst, noted that SUI is consolidating within a descending channel, holding above the key 0.618 Fibonacci retracement near $0.742.