Sui’s 10% Price Surge: tBTC Launch and ETF Hopes Fuel the Rally

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SUI‘s price skyrocketed, leaving investors in awe and proving that real developments, such as Bitcoin-native lending protocols and the SEC’s ETF review window, can make a difference. 🚀📈

On July 14, Sui (SUI) experienced a jaw-dropping 10% increase in just 24 hours, rising from a daily low of $3.44 to as high as $3.99 before settling at $3.84 at the time of writing, according to crypto.news data.

The sudden spike, accompanied by a staggering $2.33 billion in 24-hour trading volume, comes as the broader crypto market enjoys a wave of bullish momentum. However, SUI’s rally stands out for being driven by platform-specific catalysts. The most notable among them are the launch of Bitcoin-backed tBTC on Sui and the growing confidence in a potential U.S.-listed SUI ETF, which recently reached a crucial regulatory milestone.

Bitcoin liquidity and ETF momentum fuel SUI’s strength

Sui’s impressive surge validates its evolving role in connecting Bitcoin’s liquidity with cutting-edge DeFi. The integration of tBTC, which went live on July 7, marks a significant technical achievement: Sui is the first non-EVM chain to enable direct minting of the Bitcoin-backed asset, bypassing the inefficiencies of wrapped tokens.

Early adoption has been impressive, with $500 million in BTC liquidity funneled into Sui-native protocols like Bluefin and AlphaLend within days. For context, that’s equivalent to 10% of Sui’s total value locked (TVL) now being Bitcoin-denominated, a rare feat for non-Ethereum chains.

The ETF narrative adds institutional weight. Nasdaq’s 19b-4 filing for 21Shares’ spot SUI ETF, now under SEC review, follows $300 million in inflows to Sui-based ETPs in Europe this year.

While approval is not guaranteed, the filing indicates that traditional finance is taking Sui’s unique proposition seriously. The network claims its object-centric model can process tBTC transactions in 400 milliseconds, a speed that could redefine Bitcoin’s utility in DeFi.

Beyond the hype: Sui’s technical edge

Grayscale’s recent report highlights why Sui is attracting capital while other Layer 1s stagnate. The network’s parallel execution engine handles 297,000 transactions per second, but more importantly, it distinguishes between simple transfers (like tBTC movements) and complex smart contracts, routing the former through a “fast path” for near-instant settlement.

This technical architecture matters because it allows Bitcoin holders to engage in lending or leveraged yield strategies without Ethereum’s latency or Solana’s congestion risks.

Developer activity further underscores the momentum. Sui’s TVL has grown over 200% year-to-date to $12.29 billion, with stablecoin volume hitting $110 billion in May alone, a sign that its infrastructure is being stress-tested for real-world payments.

Despite the recent rally, SUI remains 28.11% below its all-time high of $5.35 set in January. That gap reflects both the broader market correction and Sui’s unique supply dynamics: only 33% of its 10 billion token supply is in circulation, with the remainder locked until 2030.

But with tBTC live, an ETF in the regulatory pipeline, and institutional players like Grayscale spotlighting its tech, Sui is no longer just another “Ethereum killer.” It’s carving a niche where Bitcoin’s liquidity meets institutional-grade settlement, and for now, the market is rewarding that vision.

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2025-07-15 01:14