SUI's price movement today is largely attributed to its recent strategic partnership with Franklin Templeton, which aims to accelerate blockchain development. This collaboration has sparked investor interest, as it signals a focus on expanding SUI’s developer ecosystem. The partnership comes on the heels of SUI's impressive 74% price increase over the past month, making it an attractive partner for blockchain initiatives. Additionally, SUI's integration of Bitcoin staking functionalities and partnerships with Babylon Labs, Lombard Protocol, and Cubist have further bolstered its position in the DeFi space, contributing to its current bullish momentum.
The market's positive sentiment towards SUI is also supported by its recent milestones, including over 35 million active users and a total DEX trading volume surpassing $32 billion. These achievements have helped SUI maintain a strong ascending trend, despite a drop in trading volume by over 36.5% in the past 24 hours. Analysts suggest that the price could continue to rise, potentially reaching a new all-time high (ATH) at $5, as the token remains within a bullish range.
SUI's price has increased by 4.26% today, reaching a current price of $3.5838, with a high of $3.6472 and a low of $3.4038.