Sui Network (SUI) has successfully absorbed a $60 million token unlock without significant price disruption, showcasing robust underlying network strength. On-chain activity remains high at 866 transactions per second (TPS), a performance attributed to the recent Mysticeti v2 upgrade which dramatically reduced latency. Analyst Kyle Chassé emphasized, “The numbers don't lie: real on-chain activity is holding at 866 TPS.”
Institutional interest in SUI is rising, with asset managers Bitwise and Canary Capital both filing for Spot SUI Exchange-Traded Funds (ETFs). Approval, potentially this quarter, could significantly boost SUI's appeal to Wall Street investors. The network's Total Value Locked (TVL) has surged past $1 billion, supported by a 30% increase in decentralized exchange (DEX) volume and new Bitcoin finance (BTCfi) integrations.
Technically, SUI has shown early-year momentum, gaining 9% and reclaiming key moving averages. A new TD Sequential buy signal has appeared on the bi-weekly chart, a pattern that preceded historical rallies of 388% and 617%. Analyst Mind Trader noted, “A confirmed hold above $1.50 would signal solid bullish momentum, targeting $2.80 as the next major objective.” However, caution persists; analyst Nology warned that failure to surpass $2.79 could lead to a retest near $1.31.
A major development is the launch of xBTC on Sui, a 1:1 tokenized Bitcoin backed by BTC held in OKX custody. This innovation aims to turn Bitcoin from passive storage into active capital for DeFi on Sui. Users can trade, lend, borrow, or provide liquidity with xBTC, redeemable 1:1 for BTC. The network promotes it as a capital-efficient solution with low fees and fast execution.
Looking ahead, Sui is preparing to introduce private transactions around 2026. According to Adeniyi Abiodun, Sui Chief Product Officer and co-founder of Mysten Labs, these features will offer full privacy while automatically ensuring regulatory compliance. “The network will have privacy features that follow compliance rules, and happen automatically without users having to do anything,” he stated. These upgrades are designed to further support DeFi and application development on the scalable network.
