SUI Surges Past Rivals in Net Flows, Analysts Predict Further Gains
SUI, the cryptocurrency behind the Sui Network, has seen significant growth in recent weeks. Over the last seven days, its value increased by 15%, surpassing Ethereum and Solana in net flows.
According to Artemis Terminal data, the Sui Network led all blockchain networks in daily net flows on Monday, recording $6.8 million in positive net flows. In comparison, Ethereum and Solana registered $4.9 million and $3.4 million net flows in the last 24 hours.
The surge in SUI's price has been described as 'absolutely phenomenal' by market analyst Crypto Bullet. The token has increased 114% over the past three months, moving from the $0.8 to the $1.75 range. It has also surged 119% in the last 30 days.
Despite the recent gains, some analysts are cautious about an upcoming token unlock event in October, which will release 64.19 million tokens worth $112 million, increasing SUI's circulating supply by 2.4%. However, others remain optimistic, with analyst Bluntz calling SUI 'a certified beast' and predicting it could reach $2.6 in its next upward move.