Ethereum

2024

Chains

Daily

The daily netflow chart for various blockchain networks over a 24-hour period showed that SUI Network led all the chains. SUI’s net flow significantly exceeded its closest competitors. That indicated robust activity and interest, which could potentially drive up the SUI crypto price. 
<a href="https://www.thecoinrepublic.com/2024/11/20/sui-hits-100b-trading-volume-sui-price-to-hit-24-by-mid-2025/">SUI</a> had a net inflow peaking just below $20 Million for the day, suggesting a strong influx of funds or assets into the network. 
Competing networks, such as Arbitrum, Solana, and Base, also showed positive net flows but were less pronounced compared to SUI, with each posting inflows above slightly $5 Million. 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SUI</a> <a href="https://twitter.com/SuiNetwork?ref_src=twsrc%5Etfw">@SuiNetwork</a> TOPS ALL OTHER CHAINS IN DAILY NETFLOW <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SUI</a> is easily going 20X from here <a href="https://t.co/W4KET51xfY">pic.twitter.com/W4KET51xfY</a>— Crypto GEMs 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@cryptogems555) <a href="https://twitter.com/cryptogems555/status/1866139036999373302?ref_src=twsrc%5Etfw">December 9, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
These figures represented a substantial amount of activity but were still overshadowed by SUI’s performance. 
On the other end of the spectrum, Ethereum registered a striking outflow, indicating a net loss of assets valued at around $5 Million. It could suggest a movement of liquidity away from Ethereum to other rising networks like SUI, highlighting shifting dynamics in blockchain network preferences among users and investors. 
This shift might be indicative of broader market trends, where newer or smaller networks attract attention due to unique offerings or technological advancements. 
<h2 class="wp-block-heading" id="h-sui-crypto-price-action-and-prediction">SUI Crypto Price Action and Prediction</h2> 
Analyzing the SUI/USD daily chart showed that the SUI crypto price was retesting a key breakout level. It was critical for sustaining its uptrend. 
Over the past month, SUI climbed from the lower levels of around $2.50. It peaked just above $4.00 before encountering resistance. SUI trading at around $4.09, slightly below its high, showed a test of this breakout level. 
The 8-day Exponential Moving Average (EMA) provided near-term support. The EMA closely aligned with the price, reflecting ongoing bullish sentiment. As long as <a href="https://www.thecoinrepublic.com/2024/11/11/sui-network-enters-discovery-phase-as-sui-price-hits-ath/">SUI</a> maintained above this moving average and the recent breakout level around $4.00, it suggested a strong likelihood of continued uptrend towards $10 in the upcoming months. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="750" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-34-1024x750.jpeg" alt="SUI/USD daily chart | Source: Trading View" class="wp-image-872787" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-34-1024x750.jpeg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-34-300x220.jpeg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-34-768x562.jpeg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-34-1536x1125.jpeg 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-34-150x110.jpeg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-34-696x510.jpeg 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-34-1068x782.jpeg 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-34.jpeg 1912w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 SUI/USD daily chart | Source: Trading View
 </figcaption>
</figure> 
However, should SUI fall below this critical support zone, it could indicate a potential reversal in trend, often referred to as a “tower top” scenario. 
That could be a bearish development, signaling the recent gains might not be sustained and could lead to a deeper pullback toward the next support near $3.60. 
The current setup, with the SUI crypto price hovering close to critical support while maintaining above the EMA, presented a pivotal moment for SUI. 
<h2 class="wp-block-heading" id="h-sui-network-s-dex-volume">Sui Network’s DEX Volume</h2> 
Additionally, SUI saw an explosive rise in trading volume, illustrating its trajectory from negligible amounts to over $35 Billion. That further supported the ability of SUI crypto to hit $10 in the coming months. 
This impressive surge became evident starting around mid-2024, with the volume climbing steeply as December approached. 
This escalation indicated the substantial increase in transaction activity on SUI’s decentralized exchange (DEX) platforms. 
Such a massive uptick in volume often signals increased investor engagement, potentially due to new protocol developments or increasing utility within the SUI ecosystem. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="580" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-1024x580.jpeg" alt="Sui Network Dex Volume | Source: DefiLlama" class="wp-image-872782" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-1024x580.jpeg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-300x170.jpeg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-768x435.jpeg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-150x85.jpeg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-696x394.jpeg 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33-1068x605.jpeg 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-33.jpeg 1080w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Sui Network Dex Volume | Source: DefiLlama
 </figcaption>
</figure> 
The spike indicated that SUI not only managed to attract significant trading interest but may also be solidifying its position within the competitive blockchain environment. 
Given this sharp increase, the market could likely watch for SUI’s ability to sustain these volumes. That could push the network into higher values, potentially $10 in coming months. 
Observers and participants will be curious if SUI crypto can maintain this momentum, possibly aiming for higher liquidity and market cap milestones. 
Speculations about future targets would hinge on continued investor interest and potential network upgrades that could further enhance SUI’s appeal and functionality in the DeFi sector. 
The post <a href="https://www.thecoinrepublic.com/2024/12/10/sui-crypto-tops-all-chains-in-daily-netflow-can-it-hit-10/">SUI Crypto Tops All Chains In Daily Netflow: Can It Hit $10?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

SUI Crypto Tops All Chains In Daily Netflow: Can It Hit $10?

Table of Contents

Thecoinrepublic.com

Other articles published on Dec 10, 2024

Former XRP Critic Believes It Now Has The Strongest Chart In Crypto

Max Resnick Joins Solana’s Anza After Criticizing Ethereum’s Scaling Strategy

Turkey Enacts New Rules for Cryptocurrency Trading

Cutoshi ($CUTO) The Altcoin Adopting The Principles Of Bitcoin Creator Satoshi Nakamoto, Sells Ou...

Qubetics Brings Asset Ownership to All While Tron Powers dApps and Stellar Aims for $1

Eric Trump predicts Bitcoin will hit $1 million, praises scarcity

Join our free newsletter for daily crypto updates!