Sui (SUI) Surges Over 38% in January as Analysts Weigh Further Upside Potential
Sui (SUI) gained over 38% in January, reaching a two-month high, supported by strong network activity and positive analyst forecasts.Summary
Sui (SUI) has shown significant momentum in January, surging over 38% to reach its highest level in nearly two months, with on-chain data indicating sustainable network recovery.
SUI became the top daily gainer on CoinGecko, with its trading volume increasing by over 91% to $1.7 billion, despite a large token unlock on January 1st, suggesting strong market absorption. Analyst Kyle Chassé highlighted this resilience, pointing to sustained network activity post-Mysticeti v2 upgrade and growing institutional interest, evidenced by Spot SUI ETF filings from Bitwise and Canary Capital.
Market observers foresee further upside, with some analysts citing a triple-bottom formation and setting price targets between $2.8 and $3.5. One analyst suggested SUI's market cap could reach $30 billion in a favorable altseason, though projections remain contingent on broader market conditions and sustained growth.
(Source：BeInCrypto)