SuiLend’s TVL surged 90% in a month, showing strong DeFi momentum on the chain.
SUI is showing signs of a potential breakout as technical setups align with strong on-chain growth. The price hovers near a crucial resistance zone while the Sui blockchain records sharp increases in total value locked and wallet adoption.
Trading activity remains high, though slightly subdued in volume compared to recent spikes. Analysts point to market structure and ecosystem momentum as key catalysts behind the growing interest. With multiple data points converging, SUI could see a new rally.
The current SUI price stands at $3.12, consolidating just above critical support between $2.63 and $2.85.
Chart analysis shows this zone has acted as a solid base during previous corrections. A descending resistance trendline now converges with overhead liquidity near the $3.30 level.
Analyst Michael Van de Poppe notes that reclaiming the $3.15 to $3.30 zone may trigger a wave of short liquidations. This could lead to swift upward movement, with targets set above $4.00. Trading volume over the past 24 hours is over $825 million, though it has dipped 15% compared to the previous day.
The Sui blockchain has seen notable expansion since January. Van de Poppe noted that the stablecoin supply on the network grew from $400 million to nearly $1.2 billion. This rise signals increased user trust and capital inflow to the ecosystem.
Moreover, the total value locked across Sui protocols has reached $1.8 billion. This places the token as the third-largest non-EVM chain by TVL. The consistent rise in locked assets reflects increased participation in DeFi applications.
Wallet adoption is gaining traction following key integrations. The launch of the Slush wallet, a rebrand of the SUI wallet, and support from Phantom have contributed to rising user numbers. These developments enhance accessibility and encourage broader engagement.
In parallel, SuiLend, Sui’s lending protocol, has experienced strong growth. It now holds over $600 million in TVL, up 90% within a month. The surge highlights growing interest in native financial tools on the chain.
As market conditions shift, traders are watching the $3.30 resistance. Previous patterns suggest that breaking above this level could initiate a fresh uptrend. The area above this price is believed to contain trapped liquidity, which may fuel accelerated movement.
