$XRP $SUI Support Tests Amid Flows

SUI is trading around $1.42 (-2.15%), leaning towards the $1.43 area as if it matters. What’s interesting is the divided character here: the price is weak, but large order flows in recent times indicate that there are still those building a position. Just keep an eye on the risk side - crowded long positions can turn into a small drop in a fast flow.

The bigger headline is institutions: Bitwise has filed an S-1 application for an ETF fund for SUI. This doesn't raise the price overnight, but it increases the ceiling on future liquidity and demand if this trend continues.

On-chain, the usage picture for SUI remains strong. The Sui team (according to a Messari report) indicates that the average daily DEX volume has increased by 232% year-over-year, reaching ~$409M — this is the kind of growth that’s hard to ignore.

It’s also worth noting: there is currently a spot trading competition with SUI/USD1 among eligible pairs, which will run from December 19 to January 2 (UTC) (prizes are paid as token vouchers). If you’re active anyway, this is something to be aware of.

Key Level: $1.43 — holding it and bouncing back = an attempt to recover; clearly losing it = opens the door for a decline.

$SUI {currencycard:spot}(SUI_USDT) ‌$