- Sui (SUI) joins Robinhood on August 19, opening access to over a million new potential investors.
- Price eyes $5.40 target, with strong support levels boosting chances of testing its previous all-time high.
- Trading volume is up 55% and open interest is up nearly 8%, signaling growing market participation and momentum.
Sui (SUI) is gaining momentum as it joins a major platform launch, drawing increasing attention from the crypto community. The market looks set for potential gains, with a focus on reaching new highs while key support levels hold.
At the time of writing, SUI is trading at $3.74 with a 24-hour trading volume of $3.99 billion and a market cap of $8.72 billion, and has increased 11.46% over the last 24 hours, signaling growing investor interest.
Sui Network Debuts on Robinhood This August
Sui Network is gaining momentum following its Robinhood debut on August 19. With SUI now tradable by over a million users, the listing boosts liquidity and mainstream accessibility, marking another step in the token’s push toward wider adoption.
SUI Set to Test All-Time High
According to crypto analyst More Crypto Online, the chart suggests SUI is likely to test its previous all-time high at $5.40. With the existing support levels, the price could jump to new highs. That being said, a drop below important June and April levels could signal a likely reversal.
For now, attention remains on the upside, as SUI looks set to capitalize on its upcoming Robinhood debut and ongoing market momentum.
Also Read | SUI Holds Key Support, Weekly Close Above $4 Could Spark Rally
SUI Derivative Market Gains Momentum
SUI has seen a fresh wave of activity as both the trading and derivatives markets picked up. Trading volume increased by 55.23% to $8.52B, while open interest rose 7.79% to $1.93B. This shows that more investors are engaging with the market, with rising positions indicating increasing interest and speculation around SUI’s price movements.
On the other hand, the OI-weighted funding rate was at 0.0095%, showing that while open interest continues to increase, leverage risk remains balanced. This implies that investors are not taking excessively aggressive positions, allowing for gradual market growth without imminent danger of heavy liquidations.
Also Read | SUI Price Targets $3.90 Breakout as Bullish Sentiment Surges
