Sui (SUI) reached a new all-time high (ATH) of $2.38 on Wednesday, following Donald Trump’s victory in the U.S. presidential election. This surge was supported by a massive jump in trading volume, which hit $2 billion.
However, by Thursday, the price of SUI slightly dropped to around $2.24, but it still reflects strong growth. The price increase is driven by more users interacting with the SUI blockchain and rising interest in the crypto ecosystem.
The rally began earlier in the week when SUI found support at $1.79 on Monday. It then jumped more than 32.7%, reaching its new high.
In addition to the price rise, SUI’s Total Value Locked (TVL) also increased from $892.98 million on October 28 to $1.09 billion on Thursday, according to DefiLlama.
On top of that, SUI’s daily trading volume saw a big jump, going from $432.9 million on Saturday to $2 billion on Wednesday.
Also Read: Bitcoin May Hit $100K Before Trump’s Inauguration: CNBC
