Sui Soars Past $1 Amid Layer-1 Rotation

Sui (SUI) broke above $1, surging nearly 24% in 24 hours. The move came as capital rotated into Layer-1 blockchain tokens, with major altcoins including NEAR and Avalanche (AVAX) posting double-digit gains.

The rally unfolded after Bitcoin pushed past $85,000, its highest level in about eight months, with buying pressure spilling over into major altcoins. Declining Brent crude and West Texas Intermediate prices partially eased inflation concerns, lifting risk appetite across asset classes.

Sui rose approximately 14% over the day and 30.2% over the week, with daily trading volume up 26%. Open interest in Sui derivatives increased by roughly 21%, a sign of new positions being opened rather than existing positions being unwound.