cryptonews.net
The Sui network, a layer 1 blockchain, has recorded a new milestone that has caused the price of $SUI to increase by 10% in the last 24 hours. The number of active blockchain wallets has surpassed 1 million as a result of the bullish market movement and wider adoption. Blockchain, which boasts its architecture for a secure digital asset ecosystem, has seen an increase in activity reflected in price, wallets and transactions. On-chain data shows that the number of active wallets has reached 1.03 million.
$SUI network activity may be associated with increased bullish activity in the market caused by rising sentiment. As a result, decentralized finance (DeFi) and Layer 1 activities have surged this month. At the time of writing, $SUI is trading at $1.12. This resulted in a market capitalization of $2.63 billion with daily volumes exceeding $165 million. The price of $SUI was seriously influenced by an increase in trading volumes of 43.4%, which means a huge increase in the asset.
Crypto enthusiasts on social media are predicting a resumption of market activity, targeting $2. This comes after the token hit an all-time high of $2.18 on March 27 due to increased flows in the first quarter of 2024. Despite being down 48.83% from the all-time high, bulls on the $SUI network are showing positive momentum after steady flows over the past six months.
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