SUI, the native token of the Sui blockchain, rose 5% on Wednesday after the project announced it would introduce its first native stablecoins, USDi and suiUSDe.
The announcement comes at a time when investors are showing renewed interest in SUI, which is now outperforming the broader crypto market. The CoinDesk 20 Index — a gauge of top digital assets — is up 2.5% over 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 key resistance at $3.56 and established new support at $3.55, backed by rising trading volume.
Driving the rally are signs of growing institutional adoption. Coinbase Derivatives plans to list SUI futures contracts on October 20, opening the door for more professional traders to take positions in the token.
Retail demand is also growing. In South Korea, t’order — a payments platform focused on the restaurant industry — recently integrated SUI to enable transactions using a Korean-won stablecoin. That move appears to have sparked a surge in volume, with activity spiking past daily averages during the early Asian trading hours.
From a technical standpoint, SUI has traded within a $0.19 range between $3.39 and $3.58. An early morning volume spike of 10.87 million tokens exceeded the 10.44 million daily average, suggesting heavy accumulation. The chart shows a series of higher lows — a classic signal of an uptrend.
If buying pressure continues, SUI could soon test the psychological $3.60 mark. For now, it’s one of the best-performing tokens in the market, drawing strength from both product development and deepening institutional ties.
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