The SUI token of Sui Network has experienced a 6.5% price increase in the last 24 hours, exceeding memecoin PEPE and Monero in critical metrics such as market capitalization, trading activity, and volume-to-market cap ratio.
The daily trading volume of the cryptocurrency rose by more than 15%, reaching $561 million. The price increase results from a notable event concerning Circle, the entity responsible for USD Coin (USDC), which is set to be included in the Sui network.
This will enable USDC’s native support on Sui through the Cross-Chain Transfer Protocol (CCTP), a mechanism that ensures frictionless transfers across various blockchain ecosystems.
SUI price prediction indicates that the cryptocurrency has emerged from its second expanding wedge pattern over five months, elevating the price to $1.18 with heightened trading activity. SUI is presently trading at $1.17, marking its peak since April.
