TL;DR:
- Analyst Michaël van de Poppe highlights the rotation of capital back into $SUI as a high-performing asset of 2024.
- Sui’s Total Value Locked (TVL) briefly surpassed $1 billion, signaling a rebound in network activity.
- Institutional interest is growing, with Vanguard adding exposure to Sui and the launch of a leveraged ETF.
Market attention in the cryptocurrency sector is shifting toward assets that experienced robust performance in 2024, indicating that the sector is undergoing a notable capital rotation. Amidst this scenario, the Sui blockchain platform ($SUI) has emerged as one of the major revival stories of recent days.
Regarding this, analyst Michaël van de Poppe stated that Sui’s rebound is no accident. He recently noted that liquidity is flowing back into assets that have proven to perform well in past years, adding that this category encompasses the entirety of the current rally. According to this hypothesis, as Bitcoin’s strength lifts market sentiment, investors are focused on revisiting proven winners.
A key indicator validating this perspective is the Total Value Locked (TVL). The Sui network briefly reclaimed the $1 billion TVL mark, a figure that indicates developers, users, and capital providers are becoming more active after a period of softer conditions. The increase in TVL, combined with greater liquidity, is a strong sign of renewed confidence.
The Impact of Institutional Confidence and Technical Support
However, it’s not just retail trading demonstrating renewed optimism. Institutional interest is also entering the scene, reinforcing the narrative of Sui’s long-term relevance. Recently, Vanguard, one of the world’s largest asset managers, added exposure to Sui in its client offerings. This move follows the launch of the first leveraged Sui ETF in the United States by 21Shares, providing new avenues for professional investors to engage with the asset.
Technically speaking, the Sui ecosystem rally also shows solid fundamentals. The price reacted strongly from higher time-frame support levels. Van de Poppe suggests there is still significant room to climb, highlighting a considerable gap between the 20-week moving average and the current spot price—a setup that historically often precedes continuation moves.
Sui is currently trading near $1.68, with an approximate market capitalization of $6.3 billion and a daily trading volume exceeding $680 million. Indicators like the RSI on the 4-hour chart are approaching 64, which suggests growing bullish momentum without yet overheating.
In summary, positive MACD levels and high trading activity align with a narrative of recovery and strengthening buyer control. As long as support levels remain firm and capital flows persist, the market is watching whether this breakout attempt materializes into a sustained trend.
