Sui Token Sees 22% Weekly Gain Ahead of Basecamp Conference
The Sui (SUI) token has seen a significant gain of 21.9% over the past week, reaching €1.028 on October 1, according to CoinGecko. This comes despite the fact that Phantom, a popular wallet, ended its support for the network on September 24. The price rose from €0.843 to €1.119 before giving back around 8%, and has remained stable over the past 24 hours.
The long-term view shows that the current price is around 80% below the all-time high of €5.19 reached in January 2025. However, the capital locked in Sui applications, also known as total value locked (TVL), has seen a significant increase to $551 million on September 30, up from $440 million at the end of August.
The upcoming Sui Basecamp conference on October 7 and 8 in Singapore is expected to be a key event for the project. The conference will focus on automated payments by AI agents, instant settlement, private transactions, and stablecoins, as well as a public speed test. Kostas Chalkias, co-founder and chief cryptographer of Mysten Labs, will attempt to push the network to its limit live on the main stage.