The crypto market is keeping an eye on Sui (SUI), which has been gaining attention with a series of positive developments. Following the strategic partnership with World Liberty Financial, a new factor has come into play: the ETF request from Canary Capital. Are we on the brink of a major breakout? Like and keep reading!
Canary Capital takes the first step towards an SUI ETF
Canary Capital has officially registered an Exchange-Traded Fund (ETF) based on SUI, initiating the regulatory process in the U.S. This registration in Delaware is a preliminary step before submitting an S-1 form to the SEC, essential for ETF approval. If successful, the fund could boost institutional adoption of SUI, significantly increasing demand for the token.
This movement occurs amid a backdrop of uncertainty in the crypto market, but SUI shows resilience, trading higher in the last 24 hours. The growing optimism may strengthen the narrative of a potential rally in the coming days.
SUI on the verge of a breakout?
Technical analysis suggests that $SUI
Moreover, $SUI
On the other hand, if the breakout is not confirmed, the price may retreat to test support levels again before a new upward movement.
What to expect for SUI?
With the ETF request in progress and the recent partnership with World Liberty Financial, $SUI
Investors are now awaiting the next steps from Canary Capital and a possible positioning from the SEC. If the scenario is favorable, SUI could establish itself as one of the standout assets in the blockchain sector.
Do you believe that SUI will break the resistance and initiate a major rally? Comment below and share your opinion! 👇
Source: CoinsProbe
Warning: This content is not an investment recommendation. Do your own research and get well informed before making any decision.
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