SUI surpassed Arbitrum in decentralized exchange (DEX) volume this past week for the first time in history, marking a significant milestone.
The data showed SUI’s DEX volume reaching $405,353,494 on January 5, 2025, compared to Arbitrum’s $360,931,092.
This development not only highlighted SUI’s growing liquidity and user engagement but also its rising prominence within the decentralized finance (DeFi) landscape.
The DEX volume surge in SUI reflected broader market dynamics and investor confidence. Such a flip in volume supremacy suggested a shift in user preference and technological robustness, potentially influencing future investment and development strategies across both platforms.
SUI DEX Volume | Source: Torero Romero/X
As SUI continues to gain a foothold, it could attract more projects and liquidity, further escalating its market relevance.
This event was crucial for stakeholders in the DeFi space, as it could herald a realignment of power among leading DEX platforms, potentially affecting future pricing and innovation within the sector.
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This is vital for understanding the evolving dynamics of DEX activities and their impact on the broader cryptocurrency market.
SUI Price Action and Prediction
The price action of SUI/USDT pair was in a clear upward trend on the 4-hour timeframe, identified by the ascending support line that SUI price had been respecting since mid-November.
This trendline has consistently supported the price, suggesting a strong bullish sentiment in the market.
The key price levels currently were around $4.81, with recent action showing the price stabilizing above this line after some fluctuation.
Given the pattern, if SUI maintains this support level, future scenarios might include a retest of higher resistances at $5.20, visible as previous peaks.
SUI/USDT 4-hour chart | Source: Trading View
The timeframe for these movements, however, would depend on market dynamics and volume influx.
Conversely, a break below this ascending support might see SUI targeting lower supports, potentially around the $4.00 mark, before any further decline or stabilization.
This ascending trendline and the reactions to it will be crucial for predicting SUI‘s price action in the coming weeks.
Traders would be wise to watch these levels for signs of either continuation or reversal of the current trend.
Monthly Total Active Accounts
Analyzing the surge in SUI’s active accounts revealed significant user adoption amidst a broader market correction.
In May 2023, the number of active accounts began to climb, reaching a peak of 40 Million by January 2025.
This sharp increase, particularly the 20.35% rise in the last 30 days, suggested a growing confidence in SUI’s utility and potential for sustained growth.
The steady increase almost every month, with notable spikes in user engagement aligning with key developments or integrations within the SUI network.
This pattern indicated that as the network expands its features and ecosystem, more users were motivated to join, reflecting positively on the network’s health and vitality.
Monthly total active accounts | Source: Torero Romero/X
Historically, such upticks in active users have correlated with an appreciation in token price, as a larger user base can lead to greater transaction volumes and enhanced liquidity.
Therefore, the current expansion in active accounts could potentially cushion SUI against severe downturns in the broader crypto market, possibly leading to a more resilient price performance.
Given these dynamics, investors could expect SUI to exhibit less volatility compared to other assets during market corrections, supported by its robust and growing user base.
This analysis suggested that SUI was well-positioned for potential upward movement, contingent on the broader market conditions stabilizing.
