As the general crypto markets rebound rally continues in full swing, major players are coming back Grayscale, one of the largest players in the financial scene, is moving to introduce a Grayscale SUI crypto trust, which is open to all eligible accredited investors and could potentially turn into a SUI ETF.
Why Grayscale Embraces Sui Crypto
In an official tweet on April 23, Grayscaleโs Head of Product & Research Rayhaneh Sharif-Askary explained the reasons behind the choice. In a 4-minute interview, she dived into Sui Layer-1 blockchainโs Artificial Intelligence (AI) push, unmatched scalability and simplified asset management across different chains.
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Grayscaleโs Ms. Sharif-Askary also drew attention to Suiโs easy accessibility via Web2 logins, such as Google or Microsoft accounts, erasing the need to remember difficult encrypted passwords or user names on Web3.
Critical acclaim came at a time when SUI price finally broke through $3, a milestone unseen since mid February, 2025. Powered by Move technology, SUI blockchain first arrived in May, 2023, but rose to the all-time high of $5.35 only this year, on January 4.
Is $5 On The Cards For Sui Price?
For SUI crypto price to get back to late January levels, it will take strong buying power, heavy trading volumes and further favorable developments in the decentralized finance (DeFi) field. Digging into DeFi stats, we can see a tremendous spike in total value locked (TVL).
According to DefiLlama, the locked-in value on SUI crypto now exceeds $1.58 billion, growing from $1.23B at the start of this month. Suilend & Navi were the protocols witnessing biggest growth over the past 7 days, while Sudo Finance perpetual protocol is the biggest gainer on a monthly timeframe, boosting its TVL by 119% to $1.42 million.
On SUI crypto price charts, the 42% increase in two days has the altcoin flirting with the $3 resistance level. On the way up, market watchers should closely monitor the $3.30 red-label Bollinger Band (BOLL), as claiming this level could give the pivotal boost to reclaim $5.
Luckily for SUI, the current bullish trend persists with the True Strength Index (TSI) dwelling between 60 and 53, confirming bullish momentum. As SUI price has broken through the middle band of $2.63, the whales have gradually come back since April 22, 2025, keeping the Chaikin Money Flow (CMF) index slightly above zero.
On The Flipside
- Out of $9.77 million liquidations on Derivatives markets, $4.38 million were long positions on SUI price, in contrast to $5.39 million in shorts.
- This hints at SUI crypto bulls excessively over-leveraging their SUI positions in expectations of a larger bull run than the current 42% uptick.
Why This Matters
Grayscale asset managers have over 10 years of crypto experience, paving the way for traditional stock market investors to embrace digital assets in a well-regulated environment.
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