Long Silent, Why Did SUI Suddenly Increase 300%?

<p>&nbsp;"Fulamak SUI prices are going crazy high, there must be a lot of people missing the bus, right?"</p><p><br /></p><p>Amid allegations of supply manipulation from South Korean regulators, the price of SUI which is a token based on the layer-1 smart contract platform Sui managed to climb 300% in three months to reach $1.44 on January 15, 2024.</p><p><br /></p><p>SUI has benefited from the recent bullish momentum seen across the broader market resulting in its trading volume surpassing $950 million on January 13, 2024.</p><p><br /></p><p>Acknowledging the growth in SUI's total locked-in value (TVL), Sui Foundation Managing Director Greg Siourounis said $300 million in TVL is one of the milestones that marks an increase of over 2,000% since August 2023.</p><p><br /></p><p><br /></p><p>A few months after the launch of the mainnet, SUI also attracted several new projects and Solend, the main lending protocol on Solana (SOL) which has just announced plans to expand to SUI.</p><p><br /></p><p>Pleased to note that SUI price increase continues to attract Cryptolaxy crypto market traders and analysts to invest in the digital asset which has been hovering below $1 for a long time.</p><p><br /></p><p>Through observation, SUI needs to pass the next resistance zone at $1.40 or $1.44 to continue the rise up to $1.60 and $1.70 but if it fails then the price can pullback again at $1 or $0.80.</p><p><br /></p><p>This is because SUI has seen large-scale buying and this means a correction may occur in the next few days as investors may want to take profits.</p><p><br /></p><p>Currently, the price of SUI recorded a small investment of about 7.90% at the level of $1.28 in the last 24 hours with a market capitalization of $1 billion but still climbed 59.64% over the last week.</p>