- Michael van de Poppe has called SUI an emerging altcoin due to increasing on-chain activity and bullish technicals.
- Binance and OKX trader data depict a strong dominance of long positions, particularly among experienced investors.
- SUI is becoming very popular in the crypto space with more than 13.5B of the monthly DeFi volume and a TVL on SuiLend of more than 520M.
Crypto analyst Michaael van de Poppe thinks that, even amid the challenges of the last few months in the markets, there is a good place to invest in crypto. According to him, one interesting choice is SUI. As pointed out by van de Poppe, the foundations of the token and the market data are rather promising.
He mentioned that the DeFi ecosystem of this cryptocurrency is growing swiftly. There were more than $13.5 billion worth of this token traded in the last month. Its lending platform, SuiLend, is another project that has seen its TVL soar. It reached an all-time high of $520 million within a month.
Van de Poppe also indicated a potential price rise later in the year for this token. He added that an ETF approval for it could become an effective trigger. The analyst thinks that the convergence of an increasing network activity for the token and positive regulatory occurrences means that it is one of the best tokens to track.
Source: X
Also Read: SUI Price Dips 8.99%, Is a $5.35 Comeback Still Possible in 2025?
Experienced Traders Favor Longs in SUI Market Activity
Even better, he said that SUI is forming a possible rebound, as it can be seen in technical charts that the token is developing a strong support area. Market data supports this bullish stance.
Analysis of long and short positions across various platforms reveals that a majority of traders, both retail and institutional, are betting on the cryptocurrency’s price to rise.
Source: Coinglass
The overall long/short ratio stands at 0.9623. Although this figure suggests a fairly balanced market, deeper figures tell a more optimistic story. On Binance, the long/short ratio for SUI/USDT is 2.1756 for general accounts and 2.3146 among top traders. This shows that experienced traders are heavily favoring long positions.
The top trader positions ratio of 1.8618 further reinforces the idea that seasoned participants are confident in the token’s upward potential.
OKX Confirms Broader Market Optimism for SUI Token
Data across multiple timeframes shows long positions dominating in dollar value. Over the past 24 hours, long trades totaled $995,420, while shorts amounted to just $462,250, giving a strong 2:1 edge to the bulls.
Even on smaller timeframes like 1-hour and 4-hour, the trend remains the same. Long positioning is not only dominant but also increasing steadily. Confirmation from other exchanges like OKX, where the SUI long/short ratio is 1.4, shows that this bullish sentiment is widespread.
Also Read: SUI Loses Neckline Support: Analysts Warn of Further Downside
