Sui Reclaims $3 After Week-Long Rally Sparked by Lion Group’s Treasury Plans | Breaking Crypto News & Blockchain Updates

Sui Reclaims $3 After Week-Long Rally Sparked by Lion Group’s Treasury Plans — SuiSUI$3.0012is trading at $3, up about 4% in the past 24 hours, as the token continues to rally following an announcement by Lion Group Holding Ltd.(...

SuiSUI$3.0012is trading at $3, up about 4% in the past 24 hours, as the token continues to rally following an announcement by Lion Group Holding Ltd.(LGHL)that it intends to acquire SUI tokens as part of a broader $600 million crypto treasury strategy.

The strategy wasannouncedon June 26, triggering a rally in the price of the token, which is currently up nearly 15% over the past 7 days.

SUI experienced a significant bullish breakout over the past 24 hour period, according to CoinDesk Research's technical analysis model. The token established a strong support level at $2.87 during early hours on Thursday, before surging dramatically with high volume.

Sui’s network has emerged as Solana’sSOL$151.75primary challenger in the Layer-1 blockchain space, recording remarkable 54% developer growth over two years while most crypto ecosystems face significant developer attrition, according to areportfrom Electric Capital.

The network’s token is outperforming the broader crypto market as measured by the CoinDesk 20 Index, which rose about 5% over the same period.

Disclaimer:Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence toour standards. For more information, seeCoinDesk's full AI Policy.

Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

CoinDesk Analytics is CoinDesk's AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.

All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk's editorial team before publication. The tool synthesizes market data and information fromCoinDesk Dataand other sources to create timely market reports, with all external sources clearly attributed within each article.

CoinDesk Analytics operates under CoinDesk's AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk's approach to AI-generated content in ourAI policy.

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