SUI Struggles to Reclaim ATH as It Relinquishes Rally Gains

The token had experienced fluctuations in price despite the uptick in the broader market.

Robot seeing his friend return from surfing. Robot comes back with a Sui token in the calm waters.
Created by Kornelija Poderskytė from DailyCoin
  • The SUI token has given up its gains during the ongoing market rally.
  • SUI is currently fluctuating between a price range of $1.50 to $1.55.
  • Sui has recently unveiled a lending protocol for developers in its ecosystem.

SUI, the native token of the Layer-1 blockchain and smart contract platform Sui, has demonstrated an impressive price performance over the past weeks, mounting double-digit gains amid the ongoing Bitcoin-led market rally.

However, unlike most, the native token has experienced difficulty in maintaining its gains, slipping back from its price highs into a stagnant level of $1.5.

SUI Price Wavers 

According to SUI’s price performance today, the token has recorded a 1.13% decrease in the past 24 hours, extending its downward performance throughout the week.


Currently trading at $1.55, the SUI token is down approximately 21% from its highest trading rate of $1.9 in the ongoing market rally, resulting in its displacement from the top 50 by global market cap.

SUI price chart.
Source: CoinMarketCap 

The ongoing price decline has dampened the initial optimism for SUI to maintain its positive momentum and reclaim its all-time high trading price of $2.16, contrasting the bullish sentiment trending across the industry. 

Sui’s slip in price coincides with the blockchain’s loss of its TOP 10 spot by Total Value Locked (TVL), now positioned at the 14th place. However, despite the token’s underperformance, the Sui ecosystem has recently celebrated new developments.

Sui Integrates Lending Protocol

On Monday, March 11, Sui welcomed Suilend, a DeFi lending and borrowing market for developers in the Sui ecosystem.


This marks the lending protocols out of Solend’s first venture outside the Solana ecosystem, coming on the heels of Sui’s milestone record of over $500 million in Total Value Locked (TVL).

The Move programming language-based project will enhance blockchain-building tools for developers by capitalizing on Sui’s advanced capability and security features and Solend’s support for more than 70 assets.

Sui has witnessed a migration of over $310 million from Ethereum to its ecosystem over the past month, eclipsing all other blockchain transfers combined.

Read more about Sui’s price performance and path to the top ten blockchain rank:Sui Challenges Top 10 Spot as TVL Surges Past $418M
Discover more about Coinbase’s latest argument in its petition against the SEC: Coinbase Slams SEC for “Oppressive” Approach to Crypto 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Grace Abidemi

Grace Abidemi, a cryptocurrency reporter at DailyCoin, covers industry developments and trends. She previously worked as a freelance writer. With a Bachelor's degree in German Language and certifications in marketing and storytelling, Grace creates engaging content. When not working, she's in Nigeria, mastering cooking and canvas painting, and enjoys learning about different cultures and languages.