Sui (SUI) is the best-performing cryptocurrency in the top 10, judged by its monthly gains, as the utility token of this smart contracts network seems to have captured significant attention during the latest rally.
The token has experienced a strong rally since it broke above its 21-day exponential moving average (EMA) on April 22. Back then, trading volumes rose steadily for five consecutive days, possibly as some FOMO kicked.
In addition, Grayscale, a U.S.-based asset management firm with a strong focus on crypto assets, launched a new SUI-linked vehicle called the Sui Trust. This investment vehicle gives accredited investors (e.g. institutions and wealthy individuals) access to SUI through a regulated instrument.
Another major vote of confidence for Sui.
The @Grayscale SUI Trust is now live — opening doors for institutional exposure to Sui. https://t.co/zzxZwFkTMz
— Sui (@SuiNetwork) April 24, 2025
Other crypto assets in the smart contracts space like Solana (SOL) and Cardano (ADA) have performed well with gains of 15.3% and 5.5% in the past month, but none compares to the 53% jump that the SUI token experienced during this period.
Although the SUI Trust has only attracted $11 million from investors thus far, it was a major pad in the back to a project that has only been around for a couple of years.
Sui is a promising layer-one blockchain that can process a higher number of transactions per second (TPS) than Solana.
The Sui ecosystem is still quite small, but its supporters believe that it will progressively grow as it captures new use cases that can increase its popularity in the near term, which is pretty much what meme coins did for the Solana blockchain.
SUI Faces Strong Selling Pressure at $3.6, But Could Keep Rising
Heading to the charts, we can see that SUI has encountered strong resistance at the $3.60 area already and the selling pressure has been quite high every time the price has tried to move above that area.
Momentum indicators were already heavily stretched, so the price will likely pull back from these levels. That is not necessarily a bad thin,g as it would open up the door for late buyers who bring in the necessary liquidity to keep the price going.
The most relevant technical signal up to this point was a bullish crossover between the 21-day and 200-day EMA. This move typically precedes a significant uptick in the price of an asset.
Guess what? The last time it happened, it delivered gains of more than 350% in just three months.
Hence, SUI’s outlook is quite strong and a pullback may offer bulls the chance to buy the token at a much more affordable price before the next leg up.
If SUI breaks above the $3.6 resistance, the next stop for SUI would be found at around $4.5, at which buyers’ commitment will likely be put to the test again.
As smart contract platforms like Sui and Solana compete to gain market share in this segment of the blockchain industry, projects like Solaxy (SOLX), a layer-two scaling protocol for Solana, have emerged as the most promising crypto presales of the year.
Solaxy (SOLX) Prepares to Wrap Up Its Presale with More than $30M Raised
Back in January, when TRUMP and MELANIA were launched, the Solana blockchain experienced delays in clearing transactions and delivered errors to both users and exchanges.
Solaxy (SOLX) fixes Solana’s congestion issues by bundling transactions offline in a side chain before sending them to the mainnet.
Recently, the developing team launched a block explorer for the Solaxy L2 so investors can see how the protocol has advanced.
$SOLX is the utility token of the Solaxy L2 network. Once the protocol is embraced by exchanges and wallets, the demand for its native asset will likely rise.
In addition, this token offers attractive staking rewards to those willing to lock in their assets to secure the network.
To buy $SOLX, simply head to the Solaxy website and connect your wallet. You can either swap USDT or SOL for this token or use a bank card to make your investment.
