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Sui reaches new all-time high with Phantom Wallet integration
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The price of the SUI token reached a new all-time high of $4.49 on Friday, after surpassing its previous record of $3.93 set on Thursday, according to data from Coingecko.
This expressive growth was driven for the recent integration of Phantom Wallet into the Sui blockchain, an event that significantly increased the platform’s appeal.
The new feature allows users to access features such as staking, token exchange and NFT storage, expanding Sui’s usability and user base.
The integration of Phantom Wallet is seen as an important milestone, as it offers users a more complete and accessible experience.
Sui new historic high
With the inclusion of essential features, the platform becomes more attractive, especially for those looking for a practical way to interact with the blockchain ecosystem.
This advancement could be the beginning of a journey of continued growth, as it attracts not only new investors, but also more developers interested in building on top of Sui.
Technical analysis points to a possible continuation of the upward movement. SUI price could reach new highs, with the next resistance projected at $5.68, as per the Fibonacci extension from the low of $1.59 recorded at the end of October.
The Relative Strength Index (RSI), currently at 76, remains above the overbought level of 70, indicating that although there is a risk of correction, the uptrend may continue if the RSI does not fall below 70.
Furthermore, on-chain data supports the positive outlook for the token. SUI’s daily trading volume reached $4.57 billion on Thursday, the highest since the cryptocurrency‘s launch.
The metrics of Open Interest (OI) in futures also show a significant increase, jumping from US$813 million to US$991 million between Thursday and Friday. This movement suggests that new investors are entering the market, which reinforces optimism.
Sui reaches new all-time high with Phantom Wallet integration
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Sui reaches new all-time high with Phantom Wallet integration
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Sui reaches new all-time high with Phantom Wallet integration
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Sui reaches new all-time high with Phantom Wallet integration
