SUI has gained great momentum after fully integrating the SUI network and backpack. This update allows users to engage in trading, lending and exchanging assets, and explore decentralized applications in exchange for backpack wallets. Cross-chain bridging is also available, and the backpack offers an incentive campaign that allows users to earn rewards from a pool of $200,000 or more to drive engagement.
@@suinetwork went live with a backpack
• Buy, trade, lend and earn money on exchanges
• Exchange, bridge, collect, and explore with walletsLearn how to claim a share of 200k+ with reward pic.twitter.com/lfhk1dqsm2
– Backpack 🎒 (@backpack) May 13, 2025
The integration improves the SUI ecosystem by adding a multifunctional platform to core DEFI operations. This enhancement complicates interaction with users. This is beneficial for both retail and institutional users who want to participate in SUI's growth network.
The SUI price rose more than 140% from its low of $1.9 on April 7, reaching $4.20 on May 11. This was the first time a token has achieved a $4 level since January. The rally won the pace after SUI burst from the $2.80-$3.10 range in April.
At press, the SUI is integrated for $3.85-$4.15. Daily closings above $4.35 are likely to confirm that breakouts are still ongoing, with the focus being on the December 2024 record high of $5.30.
According to Defillama data, SUI total value locks (TVL) have recently peaked at $2.1 billion. It fell slightly to $2.0888 billion, but TVL is 17% higher than early May, indicating a consistent capital entry into the system. SUI has also witnessed the growth of SUI-based lending protocols. TVL for these platforms has increased by 78.86% within a month, driven by the Navi protocol's growth activities.
SUI Futures Markets is also continuing to grow rapidly. Open interest increased from around $600 million in March to $1.86 billion on May 14th. This significant growth shows an increase in leveraged demand at key trading points and a high reliability of traders. Technical strength, ecosystem growth and market interest are all aligned, and SUI appears to be ready to attack new highs in the coming weeks.
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