Sui Network Flips Ethereum in Total Transactions, Signaling Strong Growth

Sui Network witnessed massive outperformance and registered a new All-time-high of $2.37 yesterday. The token has gained over 25% in the last three sessions and displayed aggressive buying.

The SUI token price displayed an impressive performance on Friday, reaching a new all-time high of $2.37. This surge came amid strong buying activity, with the token adding over 25% in the last three sessions.

The SUI token has been trading in a significant uptrend since September 2024. Despite the market headwinds, the token outperformed the crypto market. It was traded under the bullish bias and delivered over +170% in the last three months.

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At press time, SUI price was noted at $2.31, showing a rise of 2.90% in the past 24 hours, and the trading volume soared over 12.90%. This depicted bullish sentiment among the market participants.

Total Transactions on Sui Network Exceed Ethereum’s, Signaling Strong Growth

In terms of total transactions, the Sui Network outpaced the second most popular cryptocurrency, Ethereum. Data showed that SUI completed 2.58 Billion on November 6, 2024. This put it slightly ahead of Ethereum’s 2.57 billion.

The crossover in Sui Network usage and transaction volume with that of Ethereum signified that the Sui Network is already fast, despite being a relatively younger blockchain.

CETUS Protocol Goes Live on Binance Driving SUI DeFi Momentum

As the first ‘move blockchain’ with a protocol token, SUI Network’s listing on Binance was a giant leap, especially considering that CETUS is the first protocol token to be listed on the exchange.

On the other hand, other big blockchains, such as Aptos, have not even come close to this kind of listing, despite being around for two years.

CETUS price surged over 36%, and the trading volume surged over 120% in the last 24 hours. The listing of CETUS on Binance also led to further community attention, which positively affected the visibility of the Sui network.

$SUI is the first move blockchain to have a protocol token listed on Binance. this is monumental

$ETH / $SUI pic.twitter.com/TrhxPIJhjF

It marks a significant phase in the blockchain space and views SUI as a potential competitor to Ethereum in terms of throughput. This achievement contributes to making the SUI token more well-known in the market and the interests of the developers.

A crypto analyst, @cooItimes, believes that SUI might be even faster, and its DeFi ecosystem could surpass Aptos’s current development and popularity.

SUI Price Prediction: Is $3 Mark Next?

The SUI price showcased a resilient upmove and traded in uncharted territory. It climbed above the key EMAs and displayed bull dominance.

This setup conveyed a bullish bias, as the technical price setup showed. Moreover, it traded in the ATH region and continued to spark bullishness.

With the rising development activity in the ecosystem, Sui Network is backed with solid fundamentals. The market participants believed SUI was a safe bet and took long positions in it.

Over the past 24 hours, the Open Interest (OI)