Sui (SUI) has reclaimed the significant $4 price level as of May 9, following a robust 10% daily gain that propelled its market capitalization above $14 billion. This rally was supported by a 76% increase in trading volume, reaching $3.3 billion, and positions Sui as the 11th-largest cryptocurrency by market cap.
The Sui DeFi ecosystem has demonstrated rapid growth: Total Value Locked (TVL) climbed to $2.03 billion—an increase of 12% over the past week—making Sui the eighth-largest blockchain by on-chain activity. Activity on Sui-powered decentralized exchanges (DEXs) and stablecoin transactions surged, with $900 million in stablecoins and over $654 million in DEX volume reported within 24 hours. Key protocols like Suilend, Sudo Finance, Cetus, Haedal, and Walrus all saw over 90% growth in the last month.
Sui's progress is driven by infrastructure and ecosystem partnerships. The network partnered with Axelar for cross-chain liquidity and interoperability, integrated zkLogin for easier onboarding, and continued collaborations with Circle (USDC issuer) and Mastercard. Web3 gaming initiatives have expanded, with Mysten Labs announcing the Parasol collectible project and XOCIETY teaming up with Adidas for digital identity experiences. Sui also introduced the Game Dollar stablecoin and plans a gaming console, SuiPlay0X1, by September 2025.
Technically, SUI completed a corrective ABC structure and broke above key resistance levels amid high buying pressure and positive RSI readings. Analysts forecast that momentum could push SUI toward the $4.50–$5.17 range if current trends persist.