Sui, a prominent L1 blockchain platform, has recently experienced a notable rebound. As per the data from the crypto market intelligence company “Santiment,” $SUI recorded a more than 10% increase in price over last twenty-four hours. This upsurge takes place at a time when Sui’s bullish sentiment has touched the peak spot in 5 months.
The development points toward a renewed optimism surrounding the Sui ecosystem. One of the chief driving forces behind Sui’s current success is the ongoing development of the company.
Sui Records 10% Price Upsurge and 259% Market Cap Increase over Last 5 Months
Sui’s enormous rebound of above 10% has grasped the attention of the community amid a relatively stagnant market. Apart from that, the market cap of Sui is above 259% while keeping in view the past five months. The platform has been making waves since the start of this year with noteworthy developments. They take into account strategic partnerships and ecosystem advancements. These endeavors have placed $SUI among the top players in the gaming and DeFi sectors.
At the moment, $SUI is changing hands at $3.51. This amount underscores a 7.07% spike in price over the recent 24 hours. In addition to this, over the past seven days, the crypto asset witnessed a 2.07% increase. On the other hand, throughout the recent thirty days, $SUI saw a 23.05% dip. However, the market capitalization and 24-hour volume of $SUI stand at $10.88B and $1.77B, showing 7.09% and 42.08% increase.
$SUI Hype Surges, Signaling Peak Bullish Sentiment
According to Santiment, the latest resurgence of Sui has rekindled excitement in the market. Based on the historical statistics, excessive hype among retail investors often results in huge volatility. Furthermore, the positive commentary concerning Sui has dwarfed the negative commentary, showing a ~5:1 ratio. This indicates the highest level of bullishness over the last 5 months.
