SUI is making frequent news lately, as it is seeing progress on multiple fronts. It reached a key milestone this week by surpassing Ethereum in daily stablecoin transfer volume for the first time.
Growing network activity, positive chart patterns, and stronger price momentum indicate that SUI is building strength within the digital asset market.
SUI Surpasses Ethereum in Stablecoin Transfers
Stablecoin transfers on the SUI network exceeded $42.98 billion as of April 21st, 2025.
SUI demonstrated a higher stablecoin daily volume than Ethereum when it exceeded $41.05 Billion on April 21st.
Among the Base network, Tron, alongside Solana networks, transferred lower amounts of funds than SUI.
Source: X
SUI registered its maximum weekly stablecoin transfer activity when it reached $42.98 Billion on April 21 although other networks presented diverse patterns.
On April 21 SUI demonstrated upward momentum in its volume through its peak but network volumes returned to prior levels in the following days.
The market’s observers will monitor if SUI maintains its present volume levels or achieves additional growth in the following weeks.
The moment during which SUI surpassed Ethereum in value demonstrates platform growth yet this brief moment does not signal long-term changes in the market.
According to analysts, stablecoin transaction increases will enable SUI to secure better rankings in blockchain network positions.
Bullish Breakout Confirmed by Falling Wedge Pattern
Market analyst Bullishbanter01 identified a bullish breaking pattern of the falling wedge in the SUI/USDT pair through their technical evaluation. The pattern indicates future market changes through movement after a falling phase.
Source: X
SUI successfully broke out from its upper resistance wedge in early April before validating the previous breakout area.
It demonstrated a strong price increase after performing the retest action which validated the bullish technical arrangement.
The area that served as resistance has transformed into a stable support level that will determine upcoming market directions.
After a clean breakout and successful price retest, the market rose strongly, which indicates buyers have taken control.
Market participants track the existing price boundaries because they want to detect indications of persistent uptrend momentum for potential additional price growth.
Analysts See Bullish Structure With Possible Short-Term Correction
Analyst best_analysts adds that while SUI’s long-term structure remains bullish, a short-term correction could occur.
The daily chart continues to show higher highs and higher lows, confirming the ongoing upward trend.
Source: X
The previous downtrend line breakout, combined with several bullish patterns especially the inverse head and shoulders pattern confirms bullish market conditions.
The expert analyst highlighted that market price could potentially encounter resistance which might create a brief pullback situation.
Such a correction would not necessarily reverse the upward trend, but it could offer an opportunity for new entries before the next move higher.
Traders are to closely monitor key support and resistance levels during this period.
Increased Trading Volume and Positive Sentiment Strengthen SUI’s Position
Santiment reported that SUI achieved remarkable weekly growth reaching 64% together with its similarly performing counterparts $TRUMP and $VERUM.
The total crypto trading volume expanded by 57% when compared to the preceding trading week, while the market showed brightened interest.
Source: X
Strong price movements and increased trading volumes tend to exist together in financial markets, and SUI demonstrated this pattern very well during early April.
Network activity and SUI price growth resulted from traders who purchased the early April price reduction.
Additionally, its open interest had reached $639.9 Million, showing a 5.03% increase over the past 24 hours, indicating growing trader participation. This rise reflects higher market engagement.
