SUI on June 6, 2025: Market Analysis and Bullish Outlook

Analysis of SUI's recent growth, ETF impact, and recovery post-hack on June 6, 2025.

On June 6, 2025, SUI, the native token of the layer-1 Sui blockchain, experienced significant market developments that captured investor attention. After dipping to $3.3 earlier in the week, SUI rebounded by 4% to around $3.61. Daily trading volume reached over 14.6 million units, reflecting high market activity. This volatility was largely driven by the recovery from the $223 million Cetus DEX hack and news surrounding spot ETF proposals. The Cetus hack on May 22, 2025, initially dented investor confidence, but a recent community vote, backed by 90.9% of validators, to release $162 million in frozen assets helped restore trust. This move, combined with Cetus’s treasury funds and an emergency loan from the Sui Foundation, enabled full reimbursement for affected users. The swift response mitigated the hack’s negative impact and bolstered positive market sentiment. From a technical perspective, SUI is trading within an ascending channel, testing key resistance at $3.8. Strong support at $3.4 has prevented further declines, and the RSI, around 61, indicates mild bullish conditions. Breaking the $4.3 resistance could drive prices to $5 or even $7.56, while a drop below support might push prices to $3.2. The Sui network’s DEX trading volume, reaching $48.4 billion in the first half of 2025, underscores the ecosystem’s robust DeFi growth. News of proposed ETFs, including filings by Nasdaq and 21Shares, has significantly shaped market sentiment. Approval of these ETFs could boost institutional demand and propel SUI to new price levels. Additionally, technical upgrades like Mysticeti v2 and Move VM 2.0 have enhanced network speed and scalability, while DeFi protocols like Suilend and NAVI have driven liquidity. The total value locked (TVL) in Sui’s ecosystem has reached $2.06 billion, reflecting a 70% month-on-month increase. On a macro level, a stronger-than-expected U.S. jobs report has bolstered sentiment in risk-on markets, but global trade tensions, such as new U.S. tariffs, could exacerbate volatility. Scheduled token unlocks in June ($206 million) may also increase selling pressure. Nonetheless, analysts predict that with continued ecosystem growth and potential ETF approval, SUI could reach $7.78 by the end of 2025. Traders should proceed cautiously, leveraging technical and fundamental analysis for risk management.