- SUI has surpassed Tron in daily active users, fueling predictions of a potential bullish breakout above the $2.52 resistance level.
- Driven by a surge in daily active addresses and an ecosystem boasting over 8 billion transactions, SUI’s network activity is accelerating
In a market dominated by negative price market prices, SUI has stood out as a stout performer in terms of user adoption and network activity. Interestingly, the digital asset has overtaken Tron to become the third-largest network by daily active addresses. The token has moved from 1.38 million to 2.46 million users.
On the other hand, Tron has fallen down to the fourth position as its user have declined from 2.77 million to 2.45 million.
It goes without mentioning that Solana still holds the top position with a whooping 4 million users, though this is a noble decline of 789,000. Notably, BNB Chain moved up the rankings from sixth to the fifth with a healthy rise of 1.49 million users.
While SUI is soaring on-chain metrics-wise, its market price is experiencing challenges. At the time of writing, SUI is swapping hands with $2.26 after recording a 1.08% decline in the past 24 hours. This market price also represents a 12.38% decline in the past week.
Despite the current price erosion, technical indicators show a glimmer of hope for the asset with a bullish reversal on the horizon. Most importantly, market pundits are putting their cross-hairs on the $2.52 resistance level.
SUI has recently formed an inverse head and shoulder pattern on its daily chart. This is a classic sign for a potential price breakout. If SUI can breach past the aforementioned resistance level, high chances is that the token could experienced a short-term rally.
This bullish momentum has been backed by the formation of higher lows since March, reinforcing market confidence.
Additionally, the Relative Strength Index (RSI) stands at 46.78, suggesting a neutral position with room for upward movement. Meanwhile, the MACD shows a weak bullish signal with its line slightly above the signal line, though the flat histogram indicates sluggish momentum.
The Cumulative Volume Delta (CVD) is currently negative at -3.24M, pointing to more selling pressure than buying, but this could shift quickly if sentiment improves.
Diving beyond the price and technical point of view, SUI’s ecosystem continues to expand rapidly. The year between May 2023 and January 2025 act as a testament. Notably between this time frame, the network has recorded over 8 billion transactions and 2.9 billion transaction blocks.
According to Suiscan, user accounts have surpassed 123 million, with over 100 million currently active—an impressive 81% activity rate.
Sui also ranks third in monthly active addresses with 1.6 million unique wallets, behind only Solana and Near. With ongoing developments such as the Momentum DEX, integration with Telegram wallets, and emerging projects like Walrus and Phantom, the network is fostering a robust and secure environment for users.
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