Sui (SUI) has rallied to $3, marking a 4% 24-hour gain and 15% weekly increase after Lion Group Holding Ltd. announced a $600 million cryptocurrency treasury strategy on June 26 that includes acquiring SUI tokens. Trading volume surged 141% during the breakout, with technical analysis confirming an inverse head-and-shoulders pattern as the token cleared the $3 resistance level after establishing strong support at $2.87.
The rally coincides with Sui's emergence as Solana's primary Layer-1 competitor, recording 54% developer growth over two years – the highest retention rate among blockchain networks – while the broader crypto ecosystem saw a 20% developer decline. Year-over-year developer growth stands at 16.1%, second only to Solana's 17.7%.
DeFi protocols on Sui show intense competition, with Suilend ($539.1M TVL) and NAVI ($527.5M TVL) separated by just $12 million in total value locked. Both have grown steadily since Q4 2024, though Suilend exhibits greater volatility. SUI has outperformed the CoinDesk 20 Index's 5% weekly gain, with technical indicators suggesting potential upside to $3.20-$3.40 if momentum holds above the $2.90 support level.