Momentum is picking up fast for the Sui Network. In a video posted to X, Sui Network’s Chief Product Officer, Adeniyi, declared the network is about to “kickstart a movement that brings millions and millions of users” to the Layer-1 blockchain.
The video quickly circulated across crypto Twitter as a sign of SUI’s growing ambitions.
“WE’RE ABOUT TO KICKSTART A MOVEMENT THAT BRINGS MILLIONS AND MILLIONS OF USERS TO @SUINETWORK” pic.twitter.com/rcfMZiP8mt
— Matteo 🦭/acc (@matteodotsui) May 7, 2025
A major on-chain milestone followed that excitement. On May 7, Sui officially crossed 10 billion total transactions, according to data from SuiScan. This milestone places it firmly in the top tier of Layer-1s regarding raw throughput, ahead of many better-known competitors.
SUI is currently trading at $3.77, up 11.2% daily, with a 24-hour trading volume of $2.38 billion. The token maintains strong support after rallying from a mid-April base around $1.75. Price has now consolidated in the $3.20–$3.50 zone, following a sharp rally that pushed it close to $4 last month.
Key technicals remain constructive. The 21-day EMA sits at $3.05 while the 50-day SMA rests at $2.54. With the SUI price above both, the uptrend structure remains intact. RSI remains healthy in the mid-60s, suggesting momentum without overextension.
Sui Network’s DeFi Ecosystem Fuels Growth
Sui’s Total Value Locked currently sits at $2.033 billion, with over $461.85 million in DEX volume and $45.34 million in perps trading in the past 24 hours, according to DeFiLlama. The network’s stablecoin market cap has also grown to $917 million, and inflows continue to outpace outflows.
The growth is partially driven by Navi Protocol, the network’s dominant lending platform, which now holds over 61.79% of BTC deployed on Sui DeFi.
As previously reported, Navi accounts for nearly 1,300 BTC of the 2,100+ BTC currently allocated across Sui-based protocols. Suinlend and Scallop follow with smaller market shares.
Fueling part of the rally is ETF speculation. Sui Network has now seen two major ETF filings in 2025—from Canary Capital and 21Shares. While both are awaiting approval, 21Shares’ recent partnership with the Sui Foundation indicates institutional alignment is strengthening.
Moreover, Sui Network’s virtual Mastercard rollout across Europe has further boosted attention. The integration enables crypto-native users to spend SUI across 20,000+ European retailers via Apple Pay and Google Pay—a real-world use case in which few Layer-1s can match.
Sui’s path forward now hinges on converting its technical and DeFi traction into sustained user activity. The network is gaining steam, with daily active addresses surging to nearly 1.5 million, and transaction volume is hitting new highs.
Disclaimer
This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
