Can SUI Hit $8.57 in 2025? Bullish Forecasts and Institutional Backing Fuel Rally
- SUI is trading at $3.89 with a daily gain of 2.63% and 24-hour volume up 54.37%.
- Technical analysis signals a bullish structure, with a key demand zone at $3.55$3.60.
- 21Shares and the coin renew their partnership, signaling institutional support and U.S. market expansion.
SUI is currently trading at $3.89 and has gained 2.63% in a day with a high 24-hour volume of $1.68 billion, representing a 54.37% increase. The token is down by 1.37% in the last week, symbolizing a short-term correction in the midst of a larger bullish scenario.
Technical analyst CurrencyWeirdo noted that SUI saw a strong reaction off the $3.67 zone, a historically significant level marked by a previous Break of Structure. Price action swept liquidity above $4.29 before retracing to a demand zone between $3.55 and $3.60.
Analysts believe that as long as the coin holds this zone, the bullish momentum remains intact. A successful bounce could set the stage for a potential reclaim of $4.29, and possibly a rally toward extended targets at $4.80 and $5.35+, the tokens all-time high.
Sui and 21Shares Expand Strategic Partnership
On May, Sui, a blockchain platform, and Switzerland-based ETP provider 21Shares formally declared the extension of their strategic partnership. The initiative is aimed at driving global adoption of Suis scalable blockchain infrastructure, with an emphasis on product innovation, research, and market outreach.
The joint venture is designed to be facilitated by 21Shares platform expertise in exchange-traded products (ETPs) and Suis fast, scalable blockchain platform. Particularly, 21Shares recently submitted its request for a the coin-based exchange-traded fund (ETF) with the U.S. SEC, representing a notable foray into the U.S. crypto market. The move is consistent with increased institutional interest and enhanced regulatory clarity in the U.S., representing an attractive prospect for crypto businesses.
Institutional Partnerships Drive Network Growth
Suis DeFi network keeps gaining popularity. Based on DeFiLlama, Total Value Locked (TVL) on the platform has reached $2.05 billion, an increase of approximately 70% over the last month, putting it in the top 10 blockchains by TVL. This growth further demonstrates growing developer and investor confidence in the coins infrastructure.
Looking forward, projections indicate that SUI may top $5.35, its last all-time high, and potentially reach $8.57 by 2025. In its next stage of growth, as the network is expanded and institutional partnerships are strengthened, the coin is set to be a major player in the future of blockchains.
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Text source: TronWeekly
