SUI Eyes Breakout as On-Chain Growth Signals Strength
The SUI ecosystem is showing signs of accelerating momentum, both technically and fundamentally. According to analyst Michaël van de Poppe, SUI’s metrics continue to strengthen, setting the stage for a potential breakout above $3.30.
On-Chain Growth Validates Investor Interest
Several metrics underline SUI’s rising prominence:
- Stablecoin volume on SUI surged from $400 million in January to nearly $1.2 billion today.
- Total value locked (TVL) reached $1.8 billion, placing SUI third among non-EVM chains.
- Wallet adoption is growing rapidly, helped by Phantom integration and the new Slush wallet.
- Lending protocol SuiLend now holds over $600 million TVL, a 90% increase in just one month.
- This activity paints a clear picture: users and capital are flowing into SUI with increasing velocity.
Chart Setup Hints at Key Reversal Point
On the chart, SUI has entered a critical support zone between $2.63 and $2.85. Van de Poppe notes that this area should hold if bulls are to regain control. If it does, a move back toward $3.15–$3.30 becomes likely.
A breakout above $3.30 would likely trigger a liquidation squeeze, as short positions get wiped out. Van de Poppe sees that reclaim as a launchpad for the next leg up.
Market corrections often shake out weak hands. In SUI’s case, the correction may be fueling the next rally.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
