SUI Rebounds Strongly: Price Climbs as Whale Interest Grows Post-Cetus Hack
Sui has risen 7.21% in the last day, from a weekly low of $2.92 on June 6 to $3.47 at the time of writing. Wider macroeconomic factors and market repercussions from the Cetus hack had caused the decline. New institutional momentum, however, could help SUI revive.
SUI Price Action Surges as Nasdaq Files for Spot ETF Listing
The 24-hour trading volume of $1.05 billion, which is 15.51% higher than the previous day, indicates a considerable increase in SUI‘s market activity. More traders are adopting leveraged positions and anticipating short-term volatility or movement, as evidenced by SUI’s derivatives volume increasing 6.44% to $5.16 billion and open interest increasing 3.53% to $1.52 billion, according to Coinglass data.
Concurrent with the rise is a significant development. The regulatory review process for a U.S. spot ETF based on the SUI token has officially begun as Nasdaq has filed a 19b-4 with the SEC to list the 21Shares SUI ETF, the Sui Foundation announced on June 10.
SUI’s Rise Continues: Nasdaq Listing Could Open Floodgates for U.S. Investors
This filing, which is based on 21Shares’ SUI exchange-traded instruments that are now trading on Euronext Paris and Amsterdam, comes after the company’s S-1 registration in April.
The milestone of a Nasdaq filing is a powerful moment. We’re proud to help 21Shares build toward a world where every investor can access SUI.
Kevin Boon, President of Mysten Labs
Globally, SUI-based ETPs have already received over $300 million in investments. Because of Sui’s high-performance Layer 1 chain attractiveness, institutional companies like VanEck, Grayscale, and Franklin Templeton have started launching products on it since late 2024.
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