Altcoins News
By Pankaj K
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Sui (SUI) has shown signs of recovery, surpassing The Open Network (TON) in key metrics such as stablecoin transfers and daily active address usage.
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One of the most significant developments for SUI has been its ability to surpass TON in stablecoin transfer volume.
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Additionally, the number of daily active addresses on SUI is considerably higher than TON's. SUI reached 1.
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Support Level Nears, Indicating a Potential Rally
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As SUI faces its current price challenges, it is approaching a key support level at $2.23, identified by the Fibonacci retracement on the 4-hour chart.
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If SUI does manage to stabilize at this support level, it could target the $2.50 range as its first resistance level.
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Market Sentiment and Derivatives Activity
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In the derivatives market, the Funding Rate and Open Interest metrics also point toward a positive sentiment for SUI.
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Similarly, Open Interest has risen by 2.02% over the past 24 hours, reaching $618.07 million.
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SUI’s recent performance is showing signs of recovery as it surpasses TON in stablecoin transfer volume and active user engagement.
The Currency Analytics
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