Sui Price: What the New Leveraged ETF Means for Investors

TLDR

• The SEC approved a 2x leveraged ETF for SUI token from 21Shares, trading as TXXS on Nasdaq, marking the first leveraged SUI ETF
• The ETF uses derivatives to deliver twice the daily return of SUI, meaning a 10% move in SUI equals roughly 20% in the ETF
• Sui Network recorded 28.2% growth in daily transactions over three months, outperforming Polygon, Arbitrum, and Aptos
• SUI price currently trades around $1.67 with technical indicators showing buying pressure and potential to reach $2 or higher
• The SEC approval comes after the agency previously expressed uncertainty about higher-leverage crypto products and issued warning letters to fund issuers

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The Securities and Exchange Commission approved a leveraged exchange-traded fund tied to the SUI token from 21Shares. The fund launched on Thursday and trades under the ticker TXXS on the Nasdaq.

The ETF provides twice the daily return of SUI. If SUI rises 10% in one day, the ETF aims to rise about 20%. Losses work the same way on the downside.

SUI Price

The fund uses derivatives including swaps and other financial contracts to track SUI price movements. It does not hold actual SUI tokens.

This marks the first leveraged SUI ETF approved by the SEC. The approval gives investors a way to gain leveraged exposure through traditional brokerage accounts without directly holding the cryptocurrency.

The SEC previously expressed uncertainty about approving three-times and five-times leveraged crypto ETFs in October. The agency also sent warning letters to fund issuers this week about products offering elevated levels of leverage.

Sui Network Transaction Growth

Sui Network recorded 28.2% growth in daily transactions over the past three months. The blockchain now leads similar projects in transaction growth.

The network outperformed competitors including Polygon, Arbitrum, and Aptos during this period. Aptos and Near saw decreases in transaction numbers while Sui expanded.

The transaction growth reflects increasing adoption and a growing user base for the Sui ecosystem.

Price Action and Technical Outlook

SUI price currently trades around $1.67 after rising 8% over the past week. The cryptocurrency showed consistent recovery over the last two days.

The Chaikin Money Flow indicator stands at 0.09, pointing to buying pressure in the market. The MACD crossed into positive territory with the MACD line above the signal line.

The price approaches key resistance levels near $1.80 and $2.00. Breaking past these levels could push the price toward $2.20. Support levels sit around $1.60 and $1.50.

The 21Shares ETF gives U.S. investors regulated access to leveraged SUI exposure through traditional investment accounts. The product reflects growing interest in blockchain technology and crypto ETFs in American financial markets.

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