SUI Crypto Tops All Chains In Daily Netflow: Can It Hit $10？

The daily netflow chart for various blockchain networks over a 24-hour period showed that SUI Network led all the chains. SUIs net flow significantly exceeded its closest competitors. That indicated robust activity and interest, which could potentially drive up the

SUI crypto

SUI had a net inflow peaking just below $20 Million for the day, suggesting a strong influx of funds or assets into the network.

Competing networks, such as Arbitrum, Solana, and Base, also showed positive net flows but were less pronounced compared to SUI, with each posting inflows above slightly $5 Million.

$SUI @SuiNetwork TOPS ALL OTHER CHAINS IN DAILY NETFLOW $SUI is easily going 20X from here

— Crypto GEMs ???????? (@cryptogems555) December 9, 2024

These figures represented a substantial amount of activity but were still overshadowed by SUIs performance.

On the other end of the spectrum, Ethereum registered a striking outflow, indicating a net loss of assets valued at around $5 Million. It could suggest a movement of liquidity away from Ethereum to other rising networks like SUI, highlighting shifting dynamics in blockchain network preferences among users and investors.

This shift might be indicative of broader market trends, where newer or smaller networks attract attention due to unique offerings or technological advancements.

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SUI

Crypto Price

Analyzing the SUI/USD daily chart showed that the SUI crypto price was retesting a key breakout level. It was critical for sustaining its uptrend.

Over the past month, SUI climbed from the lower levels of around $2.50. It peaked just above $4.00 before encountering resistance. SUI trading at around $4.09, slightly below its high, showed a test of this breakout level.

The 8-day Exponential Moving Average (EMA) provided near-term support. The EMA closely aligned with the price, reflecting ongoing bullish sentiment. As long as SUI maintained above this moving average and the recent breakout level around $4.00, it suggested a strong likelihood of continued uptrend towards $10 in the upcoming months.

SUI/USD daily chart | Source: Trading View

However, should SUI fall below this critical support zone, it could indicate a potential reversal in trend, often referred to as a “tower top” scenario.

That could be a bearish development, signaling the recent gains might not be sustained and could lead to a deeper pullback toward the next support near $3.60.

The current setup, with the SUI crypto price hovering close to critical support while maintaining above the EMA, presented a pivotal moment for SUI.

Sui Networks DEX Volume

Additionally, SUI saw an explosive rise in trading volume, illustrating its trajectory from negligible amounts to over $35 Billion. That further supported the ability of SUI crypto to hit $10 in the coming months.

This impressive surge became evident starting around mid-2024, with the volume climbing steeply as December approached.

This escalation indicated the substantial increase in transaction activity on SUIs decentralized exchange (DEX) platforms.

Such a massive uptick in volume often signals increased investor engagement, potentially due to new protocol developments or increasing utility within the SUI ecosystem.

Sui Network Dex Volume | Source: DefiLlama

The spike indicated that SUI not only managed to attract significant trading interest but may also be solidifying its position within the competitive blockchain environment.

Given this sharp increase, the market could likely watch for SUIs ability to sustain these volumes. That could push the network into higher values, potentially $10 in coming months.

Observers and participants will be curious if SUI crypto can maintain this momentum, possibly aiming for higher liquidity and market cap milestones.

Speculations about future targets would hinge on continued investor interest and potential network upgrades that could further enhance SUIs appeal and functionality in the DeFi sector.