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SUI Eyes $4 Breakout as DeFi TVL Hits Record $2.2B and Open Interest Soars
SUI Eyes $4 Breakout as DeFi TVL Hits Record $2.2B and Open Interest Soars
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[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN]
SUI News -
Sui (SUI) surged nearly 12% on Monday, testing the key $4 resistance level amid strengthening network fundamentals. The LAYER 1 blockchain reached a record $2.20 billion in Total Value Locked (TVL), demonstrating strong DeFi adoption.
Derivatives markets show increasing bullish sentiment, with Open Interest jumping 19% to $1.73 billion. The TVL increase represents an 8.74% daily gain according to DeFiLlama, while CoinGlass data reveals traders are positioning for further upside.
Technical indicators suggest bullish momentum could push sui past the psychological $4 barrier. The parallel growth in spot and derivatives activity points to rising institutional interest alongside retail participation.
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