2024

Solana

Million

Billion

<p>SUI hit a heights in trading volume recording $180 Billion in November, the highest in its trading history. This is also a significant milestone for the cryptocurrency.</p> 
<p>This surge in volume marked a massive increase, cumulatively adding over $141 Billion to its yearly total. Since May, SUI has shown consistent growth in trading activity month-over-month, with each successive month outperforming the last.</p> 
<p>Since May 2023, trading volumes was relatively modest. Also, there has been a clear bullish trend in market engagement.</p> 
<p>By mid-year, trading volumes began to pick up significantly, reflecting growing investor interest and confidence in SUI. Each subsequent month saw higher volumes, culminating in the record-breaking spike in November.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> JUST IN: <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SUI</a> HITS $180 BILLION TRADING VOLUME! <a href="https://t.co/lDw9vX31hw">pic.twitter.com/lDw9vX31hw</a></p>— ToreroRomero (@Torero_Romero) <a href="https://twitter.com/Torero_Romero/status/1858873241877598426?ref_src=twsrc%5Etfw">November 19, 2024</a>
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<p>This trajectory highlighted the SUI’s increasing relevance. The steep rise in November surpassed previous monthly figures substantially and set a new standard for trading activity.</p> 
<p>This record performance suggested a strong end-of-year rally for SUI, with heightened market participation and potential for continued growth.</p> 
<h2 class="wp-block-heading" id="h-solana-sui-network-fractal"><strong>Solana, Sui Network fractal</strong></h2> 
<p>The recent trading patterns for&nbsp;<a href="https://www.thecoinrepublic.com/2024/11/18/sui-network-prints-multiple-onchain-milestone-what-next-for-sui-price/">SUI</a>&nbsp;suggested a fractal alignment with historical Solana (SOL) price movements, highlighting a potential path for SUI to reach $24 by mid-2025.</p> 
<p>Solana’s rise is depicted through its surge following a decisive 100/200-day moving average crossover. SUI has recently mirrored this move.</p> 
<p>SUI’s current trajectory on the daily chart shows a similar explosive uptrend, similar to that of Solnana’s recent trend.</p> 
<p>Solana’s chart from early 2021 showed the price action that followed the moving average crossover led to repeated new highs.</p> 
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  <img loading="lazy" decoding="async" width="1024" height="523" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageppj4CB-1024x523.jpg" alt="SUI/USDT v SOL/USD daily charts | Source: Trading View" class="wp-image-842284" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageppj4CB-1024x523.jpg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageppj4CB-300x153.jpg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageppj4CB-768x392.jpg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageppj4CB-1536x784.jpg 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageppj4CB-2048x1045.jpg 2048w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageppj4CB-150x77.jpg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageppj4CB-696x355.jpg 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageppj4CB-1068x545.jpg 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageppj4CB-1920x980.jpg 1920w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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   <em>SUI/USDT v SOL/USD daily charts | Source: Trading View</em>
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<p>If SUI continues to replicate this pattern, the projection sees SUI reaching the $24 mark by 2025.</p> 
<p>The similarity rests in the moving averages as well as the price support and resistance levels.</p> 
<p>As Solana once moved sharply from a consolidation phase to peak levels, SUI’s current consolidation just above the recent moving average crossover suggests a buildup for a similar bullish run.</p> 
<h2 class="wp-block-heading" id="h-sui-price-outperforms-sol-by-gains-as-lending-protocols-on-ecosystem-grow"><strong>SUI Price Outperforms SOL by Gains as Lending Protocols on Ecosystem Grow</strong></h2> 
<p>Sui’s market performance continued to mirror Solana’s early days, albeit with more substantial market capitalization and quicker growth in Total Value Locked (TVL).</p> 
<p>Notably, Sui’s TVL grew more rapidly; where Solana’s TVL was just under $150 Million at a similar stage, Sui’s TVL has skyrocketed to $1.6 Billion.</p> 
<p>In terms of market cap SUI outshines $10 Billion, dwarfing Solana’s Q1 2021 market cap of $2.3 Billion. During early 2021, Solana’s value increased as Bitcoin’s dominance dropped by 10%.</p> 
<p>Contrastingly, Sui’s price rose from $1 to $3.9 even as Bitcoin’s dominance increased by 5%. This suggested that Sui could surge dramatically once Bitcoin’s dominance begins to decline.</p> 
<p>Additionally, there was divergence from market dynamics. Sui appreciated while Bitcoin dominance rose steadily—a scenario contrasting sharply with Solana’s pump during a decline in Bitcoin’s market share.</p> 
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 <img loading="lazy" decoding="async" width="680" height="405" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageC41x3a.jpg" alt="Solana/USDT | Source: TradingView" class="wp-image-842289" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageC41x3a.jpg 680w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageC41x3a-300x179.jpg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/tempImageC41x3a-150x89.jpg 150w" sizes="auto, (max-width: 680px) 100vw, 680px">
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  Solana/USDT | Source: TradingView
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<p>Additionally,&nbsp;<a href="https://www.thecoinrepublic.com/2024/11/18/sui-price-rising-amid-surging-optimism-for-the-network/">Sui Network</a>‘s DeFi continued to show growth. SuiLend protocol rapidly ascended to become the largest lending protocol on the network, with a TVL at $384 Million.</p> 
<p>Closest competitors like Scallop and Navi TVLs lagged at $192 Million and $353 Million respectively.</p> 
<p>The exponential growth in SuiLend’s TVL indicates increasing trust and utilization within the ecosystem. This provides a solid foundation for $SUI’s potential price ascent to $24 by mid-2025.</p> 
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   <p lang="en" dir="ltr">NEWS: <a href="https://twitter.com/suilendprotocol?ref_src=twsrc%5Etfw">@SUILENDPROTOCOL</a> IS NOW THE LARGEST LENDING PROTOCOL ON <a href="https://twitter.com/SuiNetwork?ref_src=twsrc%5Etfw">@SUINETWORK</a>! <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SUI</a> <a href="https://t.co/w6cCnlERzU">pic.twitter.com/w6cCnlERzU</a></p>— ToreroRomero (@Torero_Romero) <a href="https://twitter.com/Torero_Romero/status/1858797635999559804?ref_src=twsrc%5Etfw">November 19, 2024</a>
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<p>With SuiLend leading the charge, Sui’s ecosystem has shown resilience and innovation, drawing comparisons to Solana’s trajectory. It is accelerating at a pace that suggests a potentially more aggressive growth curve.</p> 
<p>These dynamics provide a strong foundation for predictions of Sui reaching a price target of $24 by mid-2025.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/11/20/sui-hits-100b-trading-volume-sui-price-to-hit-24-by-mid-2025/">SUI Hits $100B Trading Volume: SUI price to Hit $24 by Mid-2025?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

SUI Hits $100B Trading Volume: SUI price to Hit $24 by Mid-2025?

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