{"id":29307,"date":"2024-04-17T17:10:21","date_gmt":"2024-04-17T17:10:21","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sui-spikes-11-as-btc-eth-slide-heres-why-sui-price-is-surging\/"},"modified":"2024-04-17T17:10:21","modified_gmt":"2024-04-17T17:10:21","slug":"sui-spikes-11-as-btc-eth-slide-heres-why-sui-price-is-surging","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sui-spikes-11-as-btc-eth-slide-heres-why-sui-price-is-surging\/","title":{"rendered":"SUI spikes 11% as BTC, ETH slide: Here\u2019s why Sui price is surging?"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/sui-token-symbol-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/sui-token-symbol-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/sui-token-symbol-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/sui-token-symbol-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Sui price rose more than 11% as Bitcoin and Ethereum declined below key levels.<\/span><\/li>\n<li><span style=\"font-weight: 400\">SUI gains after ByteDance subsidiary BytePlus chose to enter Web3 via the Sui blockchain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Sui (SUI) traded higher today despite a broader crypto market downturn that saw <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin<\/a> dip below $61k and <a href=\"https:\/\/coinjournal.net\/news\/tag\/ethereum\/\">Ethereum<\/a> fall below $3,000.<\/span><\/p>\n<p><span style=\"font-weight: 400\">While Sui price remains below the recent peak above $2.17, its surge to $1.27 in the past 24 hours represents gains of more than 11% and better than most altcoins in the top 100 by market cap.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Why is SUI price up as altcoins dip?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">On April 17, the Sui team <a href=\"https:\/\/blog.sui.io\/byteplus-bytedance-sui-technology\/\" target=\"_blank\" rel=\"noopener\">announced<\/a> that BytePlus, a subsidiary of the technology firm ByteDance, had joined the crypto network as it makes its Web3 debut. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8BREAKING: BytePlus, the enterprise technology arm of ByteDance (the company behind <a href=\"https:\/\/twitter.com\/tiktok_us?ref_src=twsrc%5Etfw\">@TikTok_US<\/a>), is coming to Sui! <a href=\"https:\/\/t.co\/GtutYyFI5X\">pic.twitter.com\/GtutYyFI5X<\/a><\/p>\n<p>\u2014 Sui (@SuiNetwork) <a href=\"https:\/\/twitter.com\/SuiNetwork\/status\/1780597336655401004?ref_src=twsrc%5Etfw\">April 17, 2024<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">BytePlus is expected to collaborate with Mysten Labs to bring its gaming and social apps to the layer 1 blockchain.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This means Sui developers can now access and tap into BytePlus services across content distribution, personalisation and user engagement solutions.<\/span><\/p>\n<p><span style=\"font-weight: 400\">For instance, BytePlus Recommend is a service that will help developers create and deploy personalized apps, while builders can leverage BytePlus Effects\u2019 80,000 \u201cready-to-use stickers and effects for video apps.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">BytePlus and Sui\u2019s partnership could unlock a new Web3 adoption curve on Sui.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Sui price outlook<\/span><\/h2>\n<p><span style=\"font-weight: 400\">As noted, SUI soared today as most cryptocurrencies mirrored Bitcoin\u2019s struggles. When the benchmark cryptocurrency fell below $62k on Wednesday afternoon, Sui\u2019s price went the opposite direction.<\/span><\/p>\n<p><span style=\"font-weight: 400\">While recent token unlocks may have contributed to the sell-off pressure, SUI is likely to have benefitted from the major news development today. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Sui has soared on positive news recently, with the token rising more than 16% after Mysten Labs announced the release of Pilotfish. The token\u2019s value also rose after the stablecoin <a href=\"https:\/\/coinjournal.net\/news\/first-digital-expands-fdusd-stablecoin-to-sui-blockchain\/\">First Digital USD (FDUSD) expanded to Sui<\/a>, only the third blockchain network to have native support for the new stablecoin. The others are Ethereum and BNB Chain.<\/span><\/p>\n<p><span style=\"font-weight: 400\">With Sui price above $1.27, its likely bulls could push above $1.30 and target the immediate resistance near $1.50. The upside includes the March 27 highs above $2.17, which is the current all-time high for SUI.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On the downside, Sui price may rely on support at $1.00 and potentially $0.79.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/sui-spikes-11-as-btc-eth-slide-heres-why-sui-price-is-surging\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison ) Sui price rose more than 11% as Bitcoin and Ethereum declined below key levels. SUI gains after ByteDance subsidiary BytePlus chose to enter Web3 via the Sui blockchain. Sui (SUI) traded higher today despite a broader crypto market downturn that [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":29308,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/29307"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=29307"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/29307\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/29308"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=29307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=29307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=29307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}