SUI Price Surge: Technical Breakout Eyes $4.00 as DeFi TVL Nears $2B

Sui (SUI) has extended its breakout above the descending channel, reclaiming the 100-day EMA at $3.07 as support. The cryptocurrency surged over 5% to trade around $3.21 on Thursday, fueled by steady investor interest and a robust DeFi ecosystem.

Total Value Locked (TVL) in Sui's DeFi protocols approaches $2 billion, up from $1.54 billion on May 23, signaling growing confidence in the high-performance Layer-1 blockchain. The derivatives market reflects this optimism, with Open Interest rising 14% to $1.45 billion and trading volume jumping 74% to $5.43 billion in the past 24 hours.

Technical indicators suggest the breakout could propel sui toward $4.00, supported by reduced selling pressure as more tokens are locked in smart contracts. The network's scalability for dApps continues to attract both institutional and retail interest.