Sui jumped 5% while Sui Blockchain announced native stablecoins in the middle of a wider rally
Sui, SUI Blockchain’s native token, rose 5% on Wednesday after the project announced It will introduce the first native stablecoins, USDI and Suiusde.
The announcement will come at a time when investors are showing a revised interest in the SUI, which is now further changing the broader crypto market. CoinDesk 20 index-a scale of top digital assets-will climb 2.5% in the same 24-hour period.
Sui climbed from $ 3.42 to $ 3.58 in the session, with technical signals showing clear bullish momentum. The token broke through the main resistance to $ 3.56 and established a new support of $ 3.55, supported by the increase in trade volume.
Driving a rally are signs of growing institutional adoption. Coinbase Derivatives plans to list SUI futures contracts on October 20, opening the door for more professional merchants to take positions in the token.
Retail demand is also growing. In South Korea, T’order-a payment platform dedicated to the restaurant industry-recently included SUI to enable transactions using a Korean-Won Stablecoin. That move appears to have sparked a volume flow, with activity walking past -day -to -day averages during the first time of Asian trading.
From a technical stance, SUI exchanged for a $ 0.19 range between $ 3.39 and $ 3.58. An early morning spikes of 10.87 million tokens exceed 10.44 million sun -averages, suggesting heavy accumulation. The chart shows a series of higher lows – a classic signal of an uptrend.
If the purchase of pressure continues, SUI can test the psychological $ 3.60 mark. Today, it is one of the best performing tokens in the market, drawing strength from both product development and deepening institutional relationships.
