Sui Price Skyrockets as Bybit Adds Ecosystem Pool Token, Macro Outlook Turns Positive

Sui Price Skyrockets 20% After Bybit Adds Support for Native Ecosystem Pool Token

On the back of encouraging news from cryptocurrency exchange Bybit, Sui has increased more than 20% in a single day, hitting its highest price point in six months. On October 7, at the same time as Sui‘s value was surging, Bybit announced support for Sui as a native ecosystem pool token. A busy week ahead in the macroeconomic landscape had the market looking positive. Amidst the geopolitical sell-off last week, weak hands also seem to have left.

Sui Climbs After Bybit Integration and 115% September Rally, TVL Hits $1.58B

Sui may have benefited in part from Bybit adding SUI to its ecosystem of token pools. The first mining pool for a coin outside the Mantle ecosystem is provided by Sui on Bybit Launchpool. Bybit is one of the leading exchanges to list Sui project NAVI and enables SUI staking as well.

The last day’s 3.82% increase in SUI comes after a September spike of 115%. Following a recent decline, the token price also increased as Ethereum recovered $2,480 and Bitcoin reached over $63,700. Notably, Sui has traded upward since bottoming around $0.53 on Aug. 6. This has been accompanied in recent weeks by a notable rise in the overall value locked. According to DeFiLlama data, SUI TVL surpassed $1.58 billion, placing it as the ninth-largest chain by TVL as of right now.

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