SUI Surges Past Ethereum and Solana in Net Flows
SUI's price has surged by 15% over the last seven days, outperforming Ethereum and Solana in net flows. Market analyst Crypto Bullet described SUI's monthly performance as 'absolutely phenomenal'. The token's value increased from $0.8 to the $1.75 range, a gain of 114% over the past three months.
SUI briefly touched $1.85 over the weekend but retreated to its current trading range of $1.70-$1.75. This represents a recovery from a recent market-wide dip. The Sui Network led all blockchain networks in daily net flows on Monday, with $6.8 million in positive net flows.
Artemis Terminal data shows that Ethereum and Solana registered $4.9 million and $3.4 million net flows, respectively, in the last 24 hours. The Sui Network also reached a milestone of $1 billion in Total Value Locked (TVL) on Sunday, just over two years after its mainnet launch.
Some analysts predict further gains for SUI in Q4, as this period is traditionally bullish for the crypto market. Crypto Bullet suggests the token could reach $5 and surpass its current record. However, an upcoming token unlock event in October raises concerns, releasing 64.19 million tokens worth $112 million and increasing SUI's circulating supply by 2.4%.
Analyst Bluntz called SUI 'a certified beast' due to its resilience, predicting the token could reach $2.6 in its next upward move.