SUI overtakes TON in stablecoin transfers: signs of market recovery?

In recent days, Sui (SUI) has recorded an increase in activity on its blockchain, surpassing TON in two key metrics: the volume of stablecoin transfers and the number of daily active addresses. 

These data suggest an increase in interest from investors in the SUI network, as the asset approaches a key support level that could act as a catalyst for a future price recovery.  

SUI Surpasses TON: growth indications

According to the latest market analyses, SUI has recorded stablecoin transfer volumes higher than those of TON, with a total of about 73 billion dollars compared to 49 billion of TON. This significant difference indicates a greater use of the SUI blockchain for sending stablecoins, a positive signal for its adoption in the long term.  

Another relevant indicator is the number of daily active addresses. Currently, SUI has about 1.8 million active wallets daily, a number significantly higher than the 600,000 of TON. The presence of such a high number of operational users suggests that the SUI blockchain is attracting more interest and participation compared to its competitor.

Historically, an increase in activity on a blockchain network has often been correlated with a bull market phase. Greater participation and high trading volumes suggest that investors are accumulating SUI, which could prepare the market for a potential rise in prices.

A key support level could trigger a rally

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In the last month, SUI experienced a significant decline, with an overall loss of 35%. However, in the last seven days, the selling pressure has decreased, with a more contained drop of 3.42%. This suggests that the negative sentiment might be running out.

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The attention of analysts and traders is now focused on a key support level at 2.23 dollars, a point defined by the Fibonacci retracement. In the past, the price of SUI has tested this level twice, bouncing on both occasions with a significant upward movement.  

If the price should once again reach this area without breaking it, we might witness a new bull impulse, with a first target at 2.50 dollars. If the positive momentum should consolidate, the asset could continue to rise in the following days.  

Traders and investors are betting on SUI

Even in the derivatives market, the indicators suggest that investors are starting to bet on a recovery of SUI. The Funding Rate, which indicates which group of traders—bull or bear—maintains control of the market, is currently positive with a value of 0.0007. Although this figure is not particularly high, it represents a clear signal that purchases are gaining momentum.  

At the same time, the Open Interest, or the total value of open futures contracts on SUI, is increasing. In the last 24 hours, this parameter has grown by 2.02%, reaching 618.07 million dollars. An increase in Open Interest accompanied by a positive Funding Rate indicates that there are more long positions than short in the market, which could favor a bull trend in the short term.  

The future prospects of SUI

The overtaking of TON by SUI in terms of transfer volume stablecoin and daily active addresses highlights the growing interest in this blockchain. Historically, high market participation has preceded phases of price growth, and SUI seems to be following a similar path.

Approaching a critical support level represents an additional element to monitor. If SUI manages to maintain this threshold without experiencing further declines, a bull movement could trigger with an initial target of 2.50 dollars.  

Finally, the indicators in the derivatives market indicate that investor sentiment is changing. The gradual increase in Open Interest and the positive Funding Rate suggest that buyers are getting back in the game, positioning themselves for a possible recovery. However, it will be crucial to observe the market trend in the coming sessions to confirm this tendency.

If the growth of active addresses and volumes continues, SUI could consolidate its role as a protagonist in the stablecoin sector and blockchain transactions, increasing its value and investor confidence in the long term.