Sui Price Prediction: As DeFi TVL Jumps by 42% – Will SUI Hit $5 Soon?

Sui (SUI) has gone up by 34% in the past 30 days as the project’s DeFi ecosystem has been growing rapidly this year. This favors a bullish SUI price prediction as it indicates increased adoption by developers.

Data from DeFi Llama shows that the total value locked (TVL) within the Sui blockchain has expanded by 42% since the year started.

Measured in SUI, a better way to capture growth and trends, the number of tokens locked in DeFi stands at 564 million or 16% of the circulating supply.

Analyzing TVL in SUI eliminates the distortion created by price increases and captures a more accurate picture of how the network’s ecosystem is progressing.

The project has been making efforts to become the home of top BTCFi applications. These are decentralized apps that leverage the scalability of the Sui network in the Bitcoin ecosystem via bridges.

If SUI can capture even a tiny portion of BTC’s supply, this can result in an exponential increase in the blockchain’s TVL and will favor a bullish SUI price prediction amid the resulting spike in the demand for this utility token.

Sui Price Prediction: A Bullish Breakout Above $4.2 Will Confirm Retest of All-Time High

Looking at the daily chart, Sui has encountered strong selling pressure at the $4.2 level once again and the price action has now been trapped in what seems to be a potential consolidation.

The key support to watch at this point is the $3.45 level, which acted as resistance in the past. The positive momentum that the Sui network is experiencing favors a bullish SUI price prediction.

The nearest and most logical target would be the token’s all-time high of $5.35 if bullish momentum continues to push the price higher after a minor pullback. A confirmed breakout would come if the price breaks above that $4.2 resistance and retests it from above.

Multiple projects have looked for alternatives to unlock the untapped potential of the Bitcoin network.

Bitcoin Hyper (HYPER), one of the hottest crypto presales of the year, has chosen to leverage the Solana Virtual Machine (SVM) to create a bridge that allows BTC holders to safely transfer their assets so they can earn some passive income from their investment.

Bitcoin Hyper (HYPER) Raises Nearly $5M to Launch its Solana-Powered Bitcoin L2

Bitcoin Hyper (HYPER) is a side chain created to foster a new era for Bitcoin’s DeFi. BTC holders will be able to earn yield, stake, and lend their assets without leaving the Bitcoin Network through this L2.

Thus far, the project has raised $4.8 million to complete the first stage of the roadmap which consists of raising funds to launch the Hyper Bridge. Once the bridge is operational, users will be able to mint BTC tokens within the Bitcoin Hyper L2 to invest in DeFi apps while their BTC tokens will remain locked up in a designated Bitcoin wallet.

Once top wallets and exchanges start to embrace this solution, the demand for the project’s utility token, $HYPER, will explode.

You can now buy $HYPER at a discounted presale price to reap the highest returns once that happens. Simply head to the Bitcoin Hyper website and connect your wallet (e.g., Best Wallet) to swap USDT or ETH for this token.

You can also invest by using a bank card and you will receive $HYPER on the Solana or Ethereum network once the presale ends.