Sui Token Surges 15% as Net Flows Outpace Ethereum and Solana
The Sui Network has seen significant growth in recent weeks, with its token price increasing by 15% over the last seven days. This surge is attributed to record-breaking net flows, which surpassed those of Ethereum and Solana. The SUI token's value has also grown 114% over the past three months, moving from $0.8 to the current range of $1.70-$1.75.
Market analyst Crypto Bullet described the SUI token's monthly performance as 'absolutely phenomenal'. The token is now testing price levels unseen since April and currently sits 20% below its all-time high of $2.17.
Some analysts predict further gains for SUI in Q4, with Crypto Bullet suggesting it could reach $5, surpassing its current record. However, a forthcoming token unlock event in October raises concerns, as it will release 64.19 million tokens worth $112 million, increasing the circulating supply of SUI by 2.4%.
Despite this, market watchers remain optimistic about the token's potential. Analyst Bluntz called SUI 'a certified beast' due to its resilience and predicts it could reach $2.6 in its next upward move.