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SUI rises 17% in 24 hours, hitting a two-month high; institutions are now deploying spot ETFs
【Crypto World】SUI has been performing well recently. After the privacy feature research was released, this coin surged by 17% within 24 hours, reaching around $1.90 and hitting a two-month high.
From on-chain data, activity has clearly increased—trading volume skyrocketed to $967.43 million, a level not seen since early December. This indicates that market attention has indeed returned.
The technical aspect is also interesting. Chart patterns show that SUI is approaching a breakout point of a descending wedge. If it successfully breaks out, the next target could be around $2.70.
In terms of institutional movements, asset management firms like Bitwise are pushing for the listing of a spot SUI ETF. Once launched, such products often attract new capital flows. So behind this rally, there is both technical support and fundamental driving forces.