TLDR: Sui (SUI) Price Surges 20% as Trump Signals a More Lenient Approach to the Ongoing Trade War with China

Sui (SUI) has seen a remarkable price surge in recent days, jumping approximately 20% on Tuesday to trade around $2.70.

The price of SUI has surged 20% on Tuesday to trade around $2.70 as US President Donald Trump appeared to signal a more lenient approach to the ongoing trade war with China, triggering a broader rally in risk assets.

This price increase marks a key breakout for SUI, which has now snapped a downtrend that started at the beginning of 2025. In a key technical development, the token has broken above its 21-day and 50-day moving averages for the first time since early 2025.

This breakout could pave the way for potential gains in the near term. Observers suggest the next target for bulls could be the 200-day moving average, which is currently just above the $3.00 handle.

The move comes as SUI continues to recover from a recent downturn. On April 22, SUI rose by 11.86% to reach $2.43.

Earlier this month, SUI came into focus as several SUI-based memecoins on the blockchain saw explosive growth. LOFI, one of the memecoins, gained 143%, while BLUB saw a price surge of 57% over seven days.

The memecoin craze on SUI appears to be driving up key network metrics. Data from DeFiLlama showed that monthly decentralized exchange (DEX) volume on SUI hit 3.2 billion SUI in March, up from 3 billion in February.

This signals an increase in trading activity within the SUI ecosystem.

The total value locked (TVL) in the network has also been increasing since December and recently reached a multi-month high of 2.5 billion SUI.

This growth in SUI-denominated metrics is notable as it comes despite SUI itself dropping 54% from its January peak.

The Sui blockchain has been making strides in terms of adoption and ecosystem growth. By late 2024, the network had more than 25 million active accounts and $1.36 billion in TVL, showcasing significant on-chain activity.

Projects within the Sui ecosystem are showing signs of traction. Among the leading decentralized exchanges, Cetus has accumulated $105 million in TVL.

NAVI Protocol, a lending hub operating on Sui, has surpassed $135 million in TVL.

The stablecoin market on Sui is approaching a significant milestone. The total stablecoin supply on the network reached an all-time high of $880 million on April 21 and appears poised to break the $1 billion mark soon.

Sui is leveraging the Move programming language and parallel transaction processing to ensure scalability and speed, comparable to Solana and Ethereum.

Innovations such as the SuiPlay0X1 gaming console and USDC integration are further strengthening Sui’s position in the blockchain realm.

Despite the breakout, some market analysts advise against expecting an "altcoin season" just yet. They highlight that macro risks remain elevated, with recession concerns and potential inflation pressures still hanging over the broader economy.

The Federal Reserve, under Chairman Jerome Powell, may be reluctant to implement aggressive easing measures should economic conditions deteriorate. This factor could limit the sustainability of altcoin rallies in the near term.

Some market watchers observe that past altcoin bull runs have been fueled by massive liquidity injections from central banks. While global M2 money supply is increasing as central banks worldwide ease monetary policy, the Federal Reserve has yet to follow suit.

However, the Trump administration’s pro-crypto stance may create a favorable environment for blockchain projects like SUI in the longer term. Some optimistic projections suggest SUI could potentially reach $10 or even $20 by the end of Trump’s presidential term.

For now, the technical outlook for SUI remains bullish, setting the stage for a potential test of the 200-day moving average and possibly a move toward the record highs above $5.00, which were last seen in early 2025. This would amount to nearly a 2x gain from current levels.

The combination of positive technical signals, increasing network activity, and a supportive macro backdrop has created momentum for SUI, which could drive further price appreciation in the days and weeks ahead.