Sui is taking up the center stage in the crypto market as the coin emerges as the top performing crypto coin on April. 23, 2025. In Particular, Sui has recorded a surge of over 25% in the last 24 hours pushing above the descending resistance trend line. This resistance has lasted for 108 days hence the breakout signals a potential incoming rally. 

Besides ranking as the top performing coin in the crypto market today, the network has recorded a surge in activity recently. Particularly, the Total Volume Locked (TVL) and Stablecoin market cap of Sui has recorded notable increments. The recent breakout has also sparked positive market sentiment with a top analyst predicting $4.88 as the next stop. 

Sui Makes a Surprise Comeback After Dipping in Early April

Sui, the native token of L1 blockchain and smart contract platform (Sui blockchain) is making a rather surprising comeback after a turbulent start in April. As per the daily chart on TradingView, the coin is trading at $2.89 as of this writing. The current price level marks over 25% surge on the day and has placed the coin among top performing coins. 

The recent price performance marks renewed confidence by investors with bulls seemingly in control of the market now. However, Sui had shattered the confidence of investors on April 7 as it dropped below the $2.05 support. But, the coin went ahead to rebound at the $1.7 price level. 

Sui has managed to stage a steady but significant recovery as the general crypto market recovers. Notably, Bitcoin has managed to reclaim $94,000 while Ethereum is trading above $1,800 hence signifying a renewed trust in cryptocurrencies. 

Nonetheless, the recent price performance of Sui can also be attributed to impactful partnerships. The network has already entered major collaborations with firms like RedStone, Lombard Finance, Babylon and Cubist. These collaborations are not just helping the blockchain position itself strategically for the emerging Bitcoin-powered DeFi (BTCfi) sector, but also fueling the Sui price performance.  

Sui Records Strong Surge in DeFi Activity 

Amidst the impressive price performance by Sui, the blockchain is also making waves with an uptick in DeFi activity. According to analytics by DefiLlama, the Total Volume Locked (TVL) of Sui has surged by 22.93% over the last 24 hours. The TVL currently sits at $1.54 billion and signifies a major boost in investor confidence as well the usage of the platform. 

The increment in the TVL can be attributed to various factors. First, the network has experienced a surge in volumes across decentralized exchanges (DEXs). In Particular, Sui’s DEXs volume has increased to $552.38 million in the last 24 hours. 

Additionally, Sui blockchain has experienced significant volumes in app revenue and inflows. All these metrics show the massive growth in user engagement with the Sui-based decentralized finance (DeFi) protocols. 

The Stablecoin activity on the Sui blockchain has also surged in recent times. As per DefiLlama data, the blockchain has recorded a 19% surge in Stablecoin market cap over the last 7 days. This surge leaves the Stablecoin market cap at $888.89 million. Furthermore, this growth suggests a broader trend of capital consolidation in the ecosystem. 

Analyst Predicts a Surge to $4.88 or Even Higher 

The recent breakout in the price of Sui has sparked predictions of where the price could be headed next. Top crypto analyst “Rose Premium Signals,” has predicted that Sui could be headed to $4.8865 or even $7.4445. VIP Rose backed the prediction on the fact that Sui formed a rounded bottom pattern that suggests a potential medium-term reversal around the $2.10 – $2.40 (FIBO ZONE). 

According to VIP Rose, this signifies a strong bullish reaction. With the current setup, Sui could experience “bullish continuation within the ascending channel,” the post read. However, he emphasized that it is vital for Sui to stay above the trendline with maintained trading volume in order to achieve the specified targets. Investors must thus watch the price movement of Sui moving forward to determine the next stop.