coindesk.com
$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.