SUI Explodes 30% After Crypto Market Shows Signs Of Life
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Despite fears of a continued downtrend, the crypto market is showing bullish momentum, with altcoins leading the charge. SUI has gained almost 31% in 24 hours as major cryptocurrencies returned to pre-correction levels. Institutional interest, including Grayscale's new SUI Trust, bolsters this trend.
Grayscale's launch of investment trusts for SUI and TAO reflects growing institutional confidence. This development supports WisdomTree CEO Jonathan Steinberg's view that crypto will mainstream. An increase in trade volume suggests rising retail and institutional interest.
SUI bulls aim to flip the $0.8357 ceiling into support, facing potential resistance and volatility. Despite being in bearish territory, long-term market rallies could bring more gains for SUI, especially with significant institutional backing. Grayscale's SUI Trust further highlights growing crypto interest, potentially mainstreaming the token.
Source: www.newsbtc.com ↗
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