Sui Price Reached a New All-Time High as the Layer 1 Blockchain for Digital Asset Ownership Continued Its Recent Resurgence

Amid a broader market upside, Sui (SUI) climbed to a new ATH of $5.35.

Sui (SUI) price reached a new all-time high on Jan. 6 as the layer 1 blockchain designed for digital asset ownership continued to experience a strong resurgence.

The L1 token, which ranks among the top 100 cryptocurrencies by market capitalization, has seen its value surge more than 20% in the past week amid broader market optimism.

Data from crypto.news shows SUI price hit a high of $5.35 during the day, as the token rallied alongside a wave of optimism for layer 1 blockchain and DeFi tokens.

However, SUI price has pared some of the gains recorded on Jan. 6, with the token trading flat on the day at around $5.21 as of Jan. 7. Daily trading volume has also decreased by about 3.2% to just over $1.4 billion.

The gains come after Sui ended 2024 on a high note following strong overall growth across the decentralized finance space.

As reported, the L1 blockchain platform saw the launch of DeepBook V3 and the Sui Bridge, while the token also attracted attention from institutional investors.

notably, Grayscale includes SUI as one of the 30 digital assets in its crypto product suite. The token’s value jumped amid Grayscale’s launch of the Sui Trust and opening it to accredited investors.

Moreover, after ending the year with a total value locked of $1.75 billion, the project has seen the TVL explode to over $2.6 billion in the first week of 2025. Interestingly, the Sui TVL stood at just $242 million in January 2024. As noted above, the bullish sentiment around SUI has also solidified amid a resurgence for DeFi.

DeFi tokens in general spiked amid the bullish sentiment following Donald Trump’s resounding victory in the U.S. presidential election.

The incoming president’s pro-crypto stance and his pick of crypto-friendly individuals to head key market regulatory entities catalyzed the uptrend. Gary Gensler’s departure from the U.S. Securities and Exchange Commission as its chair has also seen DeFi explode.