Sui Bridge Is Now Live on Mainnet as SUI Price is Again Among Top Crypto Gainers

Sui Network recently launched the Sui Bridge on its Mainnet, marking an important milestone for the platform’s interoperability efforts.

The Sui Bridge is now live on Mainnet, enabling trust-minimized ETH and WETH asset transfers.

Sui Network announced the launch of the Sui Bridge on its Mainnet, facilitating interoperability between Ethereum and Sui.

According to an official blog post, this new feature will allow users to transfer assets between the two networks in a trust-minimized manner. The bridge is secured by the validators of the Sui network.

Currently, the Sui Bridge supports both ETH and WETH (Wrapped ETH) transfers, and the network plans to introduce support for additional assets in the future.

To ensure a seamless experience, Sui Network noted that applications on its platform will be updated to reflect the distinctions between ETH and WETH.

Moreover, the network highlighted the importance of using caution when transferring assets, especially during periods of network congestion, to avoid potential delays or high transaction fees.

This launch marks a significant step in Sui Network's efforts to enhance interoperability and expand its ecosystem. With the addition of the Sui Bridge, users will gain greater flexibility in moving assets between Ethereum and Sui.

As Sui Network continues to evolve, it aims to integrate further bridges and Layer-1 networks, ultimately fostering a interconnected Web3 landscape.

SUI Price Analysis: Top Gainer Status佐證蓬勃發展態勢

Meanwhile, SUI has been performing exceptionally well in the market, emerging among the top gaining cryptos.

A snapshot of the CoinMarketCap top gainer's list at press time reveals a notable surge in SUI price, indicating strong bullish momentum.

Other top performers include Fantom (FTM), Helium (HNT), and BEAM, based on the snapshot.

At press time, data from CoinGecko indicates that SUI trades at $1.86, with a daily trading volume of $958,020,452. This represents a price increase of 5.38% in the past day and 22.83% over the past week.

With the recent launch of the Sui Bridge, the network's DeFi ecosystem is poised for further expansion.

Crypto Bull's SUI Price Prediction Raises Eyebrows

Interestingly, Crypto Bull, a top X analyst, shared a bold yet intriguing prediction for SUI price.

According to the analyst, SUI has the potential to reach $3 to $4 in October, drawing a comparison between SUI's current momentum and Solana's (SOL) rise during the last bull run.

$SUI – Flip this and its fireworks 🚀Expecting $3 – $4 this October for $SUI 🤝You heard it here, this will be the top L1 like $SOL from last bull run. pic.twitter.com/S67bbkkWdF

In a follow-up tweet, the analyst highlights SUI's strong fundamentals, including its Layer-1 blockchain status, speed, and low transaction fees.

Moreover, Crypto Bull notes the growing interest in SUI, evident in its increasing trading volume and community engagement.

The provided chart showcases a bullish trend since May 2023, with higher highs and higher lows. Resistance at $2.1829 yet to be breached.

However, sustained momentum and a break above the $2.1829 resistance will be crucial in determining if SUI can reach the predicted price targets in October.

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Technical Indicators Bolster Bullish Outlook for SUI Price

A glance at the Sui chart analysis reveals bullish technical indicators, including a moving average (MA) trending below the current price and increasing trading volume.

This suggests strong buying interest, which aligns with Crypto Bull's prediction. However, sustained momentum and a break above the $2.1829 resistance will be key factors in determining if SUI can reach the predicted price targets in October.

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