Sui Network recently announced its integration with the BitVM bridge, alongside plans to launch Peg-BTC (YBTC). This initiative aims to broaden Bitcoin's DeFi capabilities on the Sui blockchain. The announcement comes amid global economic tensions and shifting trade policies, which are influencing cryptocurrency markets.
SUI has demonstrated resilience, establishing a trading range of 4.46% between $3.70 and $3.86. Strong volume support was found at the $3.755 level. Bullish momentum emerged with the price surging 1.9% on above-average volume, establishing resistance at $3.850.
Throughout the latter part of the day, the formation of higher lows suggests consolidation above the $3.775 support level. This indicates a potential stabilization and continued upward movement for SUI. The integration and launch could further solidify SUI's position in the DeFi space.
This article is based on our author's analysis of materials taken from the following resources: CoinDesk.