Why is SUI Price Up Today (Jan 6)

The SUI price is one of the most prominent performers in the current market. It recorded considerable growth at a time when the broader crypto market is also seeing gains.

SUI Price Jumps as Momentum Begins to Build

The token is up 16.6% in the last 24 hours, performing significantly better than the rest of the crypto market. This continues an already positive trend for the token now up 36.5% for the last seven days.

Source: TradingView; SUI Token Daily Chart

Speculation that the layer-1 blockchain might ultimately support privacy-preserving transactions is one of the key drivers of the latest SUI price rally. This interest that was driven by a recent research paper co-authored by Mysten Labs.

This paper investigated how modern blockchains can implement features of privacy with the use of advanced cryptography without the full implementation of traditional privacy coins architecture. It outlined methods through which confidentiality can be allowed.

Throughout 2025, investors have become more interested in the idea of “countercyclical value” as a result of macro tensions affecting risk markets. In the final six months of the year, the more privacy-oriented coins like Monero and Zcash have performed well compared to other markets.

In this regard, this trend has been described as a rotation from yield-oriented digital cash assets to digital cash assets better suited to real-world applications. Zero-knowledge proof technology enables secure and private transactions without compromising the speed of settlement.

The on-chain metrics further strengthens the positive sentiment. According to data on Santiment, total trading volume on Sui-based apps surged to more than $965 million. This is its highest level since the start of December. The steady growth of trading volume is an indication of growing liquidity in the market.

Source: Santiment

Meanwhile, DefiLlama data shows that the Total Value Locked in Sui’s network is now at $1 billion. The data signifies that more people have been interacting with the network.

On the derivatives front, Coinglass data shows that SUI futures open interest rebounded strongly to $946 million, up from $680 million a few days ago. This was its highest level since the October crash. A rising open interest indicates new money flowing into the SUI market, thus fueling the price action.

Ecosystem Growth Strengthens Its Bullish Momentum

In addition to its market growthh, the Sui ecosystem is also expanding. Astros’s perpetual DEX recorded over $100 million in trading volume in under a week since its deployment, which is indicative of adoption. It also recently revealed that it is working on a native stablecoin, USDsui.

In addition, it seems that there is going to be a first spot ETF of the token in the market soon. Recently, Bitwise filed an S-1 registration with the US SEC to introduce the first SUI ETF.

Shortly after that, Canary Capital made an amendment to its SUI ETF, listing fees, a ticker, and yield strategies via staking.

Source: https://coingape.com/why-is-sui-price-up-today-jan-6/