Price Increase: SUI has experienced a significant price increase of 23.76% in the last 24 hours, outperforming the overall crypto market.
Strong Inflow: Substantial capital inflows and strong buying pressure indicate high interest and confidence among investors.
Market Sentiment: Margin data shows a dominant bullish sentiment among traders, with long positions significantly outnumbering short positions.
Ecosystem Growth: The news highlights the expansion of SUI trading to New York residents and the successful absorption of a large unlock token, indicating increased accessibility and maturity of the ecosystem.
Momentum Bullish SUI Berlanjut
The price of SUI surged 23.76% in the last 24 hours to a level of $1.7, with a strong 24-hour trading volume of $1.85 billion. Capital flow analysis shows significant buying activity, totaling over $229 million. Margin metrics indicate a strong bullish bias, with a long/short ratio reaching 29.25 and the long user ratio consistently above 96%. This shows high confidence among traders using leverage, even though the overall crypto market is in a 'Fear' sentiment (Index at level 22).
Accessibility and Growth of the SUI Ecosystem
The latest news highlights the strong performance of SUI, with a rise of 23-31% in 24 hours. The main driving factor is the opening of a major platform that allows SUI trading for residents of New York, significantly increasing accessibility and market demand. The market also managed to absorb a token unlock of $86.86 million without bearish pressure, and the launch of USDsui, a fiat-backed stablecoin, further strengthens the ecosystem. This positive sentiment continues to drive the upward trend of SUI.
Trading Opportunities on Binance
Binance has a history of engaging the SUI community, previously hosting the trading competition 'SUI Ecosystem Trading Competition' with a total prize of around US$1.7 million. Traders can explore various trading pairs and staking options available for SUI on Binance to take advantage of market movements and participate in the growth of the ecosystem.
Strategic Entry Point
Monitor the current momentum of SUI for the possibility of further increases towards $1.75 and $2.00.
Consider key support levels around $1.60 and $1.49 as potential entry points.
Leverage the Binance platform for active trading and engagement in the ecosystem.
