Sui’s native token, SUI, has crossed the $15 billion market cap mark, surpassing TON and Chainlink to become the 12th largest cryptocurrency.
This achievement highlights the token’s explosive growth as its trading price also surges. Analysts attribute this momentum to a recent token unlocking event, which released 82 million SUI tokens—about 0.82% of its total supply.
A Strong Start to 2025 for SUI
The SUI token has gained over 1,312% since its lowest price in 2023, including a 25% rise in the past week. Its market cap now stands at $15.2 billion and is nearing the $16 billion milestone.
The 24-hour trading volume has hit $2.6 billion, while the token’s price increased by 8% to $5.34. Additionally, open interest rose by 37% to $1.22 billion, and its total value locked (TVL) surpassed $2 billion.
Token Unlocking and Partnerships Drive SUI’s Success
SUI’s price rally aligns with its January 1, 2025, token unlocking event, which released 82 million tokens into circulation. This release boosted trading activity and fueled price growth.
Rising demand and strategic partnerships have also contributed to SUI’s recent success. The Sui network is collaborating with major firms like Ant Digital Technologies to integrate real-world assets into Web3. These partnerships mark a significant step in tokenized asset adoption on the platform.
Additionally, collaborations with Wall Street heavyweights like VanEck, Grayscale, and Franklin Templeton have bolstered investor confidence in Sui’s Layer 1 blockchain.
Key Integrations Further Propel Growth
Sui’s proprietary on-chain order book, Deepbook V3, recorded over $1 billion in trading volume. Its associated token, DEEP, now boasts a market valuation exceeding $375 million. These integrations underline Sui’s commitment to innovation and its growing influence in the crypto space.
