As 2024 concludes, Ethereum enthusiasts face disappointment as the cryptocurrency fails to reach anticipated price highs, unlike Bitcoin, which soared to $98K at the start of 2025.
In contrast, Layer 1 blockchains like Solana (SOL) and SUI (SUI) are capturing market attention, particularly SUI, which has recently experienced a remarkable price surge.
SUI’s native token has surpassed its previous all-time high of $4.98, reaching $5.20—a 20% increase within a single day. This price rally is accompanied by a staggering 150% rise in daily trading volume, now at $2.08 billion, propelling SUI to the 12th position in the cryptocurrency rankings with a market cap of $15.22 billion, overtaking Toncoin (TON) and Chainlink (LINK).
The surge in SUI’s price correlates with a significant increase in open interest, which rose 40% to a record $1.05 billion, alongside a total value locked (TVL) of $1.96 billion, according to DefiLlama.
This combination of factors has sparked bullish momentum and heightened investor interest, with speculation growing about the possibility of SUI reaching the $10 mark soon.
