Sui Surges Nearly 50% in a Week as Volume Exceeds $2.5 Billion

Layer-1 blockchain Sui has surged nearly 50% over the past week, drawing renewed attention from the market.

Cointelegraph reported on May 11 that Sui rose from about $0.94 on May 4 to as high as $1.41 during intraday trading on May 11. Trading volume also climbed from around $200 million to more than $2.5 billion over the same period, pointing to a rapid influx of buying.

The rally appears to reflect a combination of greater institutional participation and expectations for new features. A decline in circulating supply has been cited as a key driver. Nasdaq-listed SUI Group Holdings staked all of its roughly 108.7 million SUI tokens, valued at about $143 million, reducing the amount available in the market and helping fuel the advance.

Expectations for broader real-world use also supported the move. African payments infrastructure company Paga recently said it plans to work with the Sui network to develop cross-border payments and stablecoin-based services. The partnership highlighted potential use cases in institutional and real-world payments, improving investor sentiment.

Technical developments also added to the positive tone. Mysten Labs co-founder Adeniyi Abiodun disclosed plans to eliminate stablecoin transfer fees and introduce privacy-protected transaction features. The changes would strengthen both payment efficiency and security, while boosting expectations for further ecosystem expansion.

Sui was trading at $1.29 in Binance's USDT market, up 20.41% from a day earlier.