SUI Blasts Past Rivals in Wild Trading Frenzy—But Why Are Traders Jumping Ship?

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Key Takeaways

In a twist even Willy Wonka might envy, SUI‘s trading volume blew past AVAX, HYPE, and NEAR combined, vaulting to a gobsmacking $44.59 billion. You could almost hear the calculators squeal in terror. This magical surge came hand-in-hand with BTCfi’s debut on DeepBook and a very greedy growth spurt in TVL.

Meanwhile, as if SUI needed a dose of humility, our orange friend was down 4% in the last 24 hours, says CoinMarketCap. Frankly, the whole crypto market had a collective yawn after a short-lived party earlier this week.

SUI soared to a local high of $4.40—just long enough for everyone to congratulate themselves—then promptly slipped on a banana peel. Volume, however, clung on like a persistent squirrel. CoinGecko confirms SUI’s trading volume just kept climbing. 🐿️💸

SUI winning the competition 

Let’s crunch the numbers (hold onto your abacus): SUI’s monthly volume smashed the combined muscle of Avalanche [AVAX], Hyperliquid [HYPE], and Near Protocol [NEAR].

In July, SUI clocked in at $44.59 billion—$8 billion more than these three musketeers put together. That number gleefully tallied all swaps, whether on CEXes or DEXes, as if SUI wanted to make absolutely sure everyone got the memo.

This mammoth volume wasn’t just the result of bored traders clicking furiously. New-fangled protocols like Cetus and the shiny new BTCfi threw open portals to fresh liquidity, beckoning all with the promise of untold fortunes (or at least, some leftover cake).

What’s driving the surge?

The magic beans of SUI’s volume? DeFi protocols inviting Bitcoin [BTC] to their tea party. Now, if you think it’s easy to get BTC tokens to mingle, you probably haven’t tried herding cats or teaching penguins to tap dance.

BTCfi means users can toss their Bitcoin into SUI’s DeepBook—think of it as a swimming pool where whales and minnows share rubber floats—to provide liquidity, trade perps, take risky bets, and possibly sprout wings by borrowing and lending.

In essence, it’s a grand opening for liquidity on the L1 blockchain, as breathlessly announced on X (formerly Twitter, and possibly in a past life, a telegram pigeon).

TVL on SUI wasn’t content with polite applause; it went full backstage-groupie, ballooning by an absurd 480% since January, smacking $2.295 billion by late July. 🥳

Toss liquid staking, borrowing, and double-counted money into the mix, and you get an eye-watering $3.48 billion—an all-time high that would make even Scrooge McDuck contemplate a second vault.

Stablecoins? Still going strong, with a $1.036 billion cap and daily inflows high enough to cover a small country’s snack budget ($2.36 million, for the bean counters keeping score).

SUI flips Ichimoku Cloud resistance 

On the volume battlefield, SUI was waving its flag triumphantly. Price-wise, things were a bit messier—like slipping a note to your crush and accidentally handing it to your math teacher. SUI did the cha-cha above the Ichimoku cloud, which lined up perfectly (and inconveniently) with a descending trendline.

At last check, SUI was trading at $3.82, having poked around the $3.61 neighborhood—possibly looking for spare change.

The Awesome Oscillator fluttered with faint bullishness, but to be blunt, most of the crowd was waving “SELL” banners.

The Money Flow Index tiptoed down to 36.47, suggesting funds were sneaking out the back door, leaving behind empty punch bowls and positive on-chain stats.

Now, even as prices resembled a sack of potatoes, derivatives data tried to spin a cheerful tale: OI-Weighted Funding Rate stayed positive—apparently, long traders still enjoy paying shorts (don’t ask why, nobody knows).

Open Interest did take a little nap, dropping from $2.66 billion to $2.41 billion, but crucially stayed awake above the $2 billion line—not bad for a supposed exodus. 🧐🐋

This plucky endurance suggests the whales (and maybe a few dolphins in wigs) haven’t wandered off—yet. All in all, the market is a madhouse, but at least it isn’t boring.

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2025-07-31 05:48