Sui’s bullish signs: $1 billion TVL and rising active addresses

• Sui’s TVL surpassed $1.03 billion, signaling growing liquidity and increased trust in the network.
• With rising active addresses and market activity, SUI is positioned to break the $1.38 resistance.

Sui [SUI] has crossed a significant milestone, with its total value locked (TVL) surpassing $1.03 billion on September 19. This achievement reflects growing trust and capital inflows into the blockchain’s decentralized finance (DeFi) ecosystem. 

With Sui trading at $1.34, reflecting a 14.84% increase over the last 24 hours at press time, the question now is: could this spark a bullish rally and push SUI’s price beyond its current $1.38?

TVL growth: A Catalyst for momentum

Sui’s rapid rise from $802 million to $1.03 billion in TVL within a short time signals increased confidence in its ecosystem. The accompanying chart shows that Sui’s TVL has experienced consistent growth, particularly throughout 2024, peaking at this $1 billion mark. 

TVL is a key metric in DeFi, as it reflects the total capital locked in smart contracts, driving liquidity and attracting developers to the platform.

Reaching $1 billion is not just a psychological barrier—it solidifies Sui’s position among top DeFi protocols. The additional liquidity may entice more users and investors, further boosting the network’s adoption and long-term prospects.

Source: DeFiLlama

Rising active addresses: Growing user participation

Sui has also seen a rise in daily active addresses, increasing from 1.47 million to 1.66 million, representing a 12.93% increase in just one day. This surge indicates growing engagement with the platform’s decentralized applications and services. 

A growing user base often translates to more assets being locked into smart contracts, which could sustain the upward trajectory of Sui’s TVL and contribute to future price movements.

Source: SuiVision

Volume and liquidity: signs of a bullish outlook

Sui’s $2.49 billion derivatives volume, up 35.57% in 24 hours at press time, points to increased market activity.

Source: Coinglass

Moreover, the liquidation chart shows $1.49 million in short liquidations versus $534,560 in longs, suggesting a shift in sentiment as shorts are squeezed out. 

Source: Coinglass

This indicates potential bullish momentum, especially as trading volumes rise alongside TVL growth.

Can SUI break through $1.38?

Given the rising TVL, increased user activity, and strong trading volumes, Sui is positioned for a potential breakout. 

Read Sui [SUI] Price Prediction 2024-2025

The $1.38 price level is a critical resistance, and if Sui can surpass this, it could signal the start of a sustained bullish rally. 

Investors will be closely monitoring whether this momentum can drive prices higher.