Three reasons SUI could target $7.66 by 2025

Sui, the native token of the Sui blockchain, has shown significant growth in recent months, claiming a new price peak during the latest broader market recovery.

Notably, Sui (SUI) recently hit a new all-time high of $4.91, marking a 38% gain in December alone. This builds on an impressive 76% rise in November, signaling strong bullish momentum.

Source: crypto.news

As SUI continues to climb, its Fibonacci retracement levels suggest it could aim for $7.66, with this target possibly materializing if the broader bull market sustains into 2025. Several key factors drive this optimism.

First, SUIs recent rally confirms increasing market confidence. After reaching $4.91, the token experienced minor pullbacks but maintained critical support levels.

This resilience shows strong buying momentum, even as its Relative Strength Index indicates overbought conditions. If SUI reclaims its ATH and surpasses the psychological $5 barrier, it could enter a price discovery phase.

The Fibonacci retracement levels position $6.12 as the next target, with a possible upside to $6.75 and eventually $7.66. These represent the assets realistic milestones if the momentum continues.

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Second, the recent integration with Backpack, a crypto exchange and wallet platform, is a major catalyst for Suis growth and could spur further upside.

Backpack‘s decision to adopt Sui’s high-performance blockchain opens significant opportunities for both platforms. With a user base spanning 150 countries and a trading volume of $60 billion in its first year, Backpack brings considerable credibility.

For Sui, the partnership enhances its ecosystem by simplifying asset management and trading. Backpack users will gain seamless access to Suis network. This came less than a week after Phantom announced it would integrate Sui.

Interestingly, this development also includes Backpacks wallet, which supports multiple chains like Solana and Ethereum. The collaboration has already contributed to the SUI price surge.

Third, Suis total value locked recently hit an all-time high of $1.835 billion, growing by 17% in a single day, according to data from DeFiLlama. This increase represents an additional $273 million in TVL, largely driven by its decentralized finance protocols.

Suilend Protocol alone accounts for $583.61 million, with a 27% daily increase, while NAVI Protocol follows with $553.8 million after a 20.79% rise.

The ecosystem also witnessed a record $466.65 million in daily decentralized exchange volume, showcasing growing user activity. Higher TVL and trading volumes demonstrate increasing trust in the network, attracting more participants and boosting SUIs utility.

These bullish metrics are capable of attracting further demand into the Sui ecosystem, potentially contributing to further price growth as 2025 nears. Sui also partnered with Franklin Templeton last month.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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