Sui Bridge Is Now Live on Mainnet as SUI Price is Again Among Top Crypto Gainers

Sui Network recently launched the Sui Bridge on its Mainnet, marking an important milestone for the platform’s interoperability efforts. According to an official blog post, this new feature allows trust-minimized asset transfers between Ethereum and Sui. 

The Sui Bridge is secured by the network’s validators, providing users with an additional option for asset transfers alongside existing solutions like Wormhole.

The Sui Bridge supports both ETH and WETH transfers, with plans to introduce more assets in the future. Sui Network noted that apps on its platform will be updated to reflect the distinctions between ETH and WETH, ensuring a smooth experience for users.

SUI Among Top Crypto Gainers

Sui has been performing well in the market, positioning itself among the top gaining cryptos. According to a snapshot of the CoinMarketCap top gainer’s list, SUI’s price showing a surge, indicating bullish momentum. Other top performers alongside SUI include Fantom (FTM), Helium (HNT), and BEAM.

At press time, data from CoinGecko indicates that SUI trades at $1.86, with a daily trading volume of $958,020,452. This represents a 5.38% price increase in the past day and by 22.83% over the past week reinforcing the growing interest in SUI. With the recent launch of Sui Bridge, the network’s DeFi ecosystem is expected to continue its expansion.

Crypto Bull’s Analysis on SUI Price

Crypto Bull, a top analyst on X recently shared a bullish prediction for SUI’s price. According to Crypto Bull, SUI has the potential to reach $3 to $4 in October, drawing a comparison between SUI’s current momentum and Solana’s rise during the last bull run. 

The analyst believes that SUI could emerge as one of the top Layer-1 blockchains, highlighting strong fundamentals and market sentiment.

The provided chart shows a bullish trend since May 2023, with higher highs and higher lows. Moreover, the key resistance at $2.1829, is yet to break. 

Crypto Bull’s tweet suggests that breaking this resistance could trigger further price appreciation, possibly pushing SUI into the $3 to $4 range.

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Technical Indicators Support Bullish Outlook

The Sui chart analysis reveals bullish technical indicators, including a moving average trending below the current price and increasing trading volume. This suggests strong buying interest, which aligns with Crypto Bull’s prediction. 

However, sustained momentum and a break above the $2.1829 resistance will be key factors in determining if SUI can reach the predicted price targets in October.

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