Why SUI’s Rapid Growth Makes It a Key Player in the Upcoming Bull Cycle

SUI is playing a larger role in the cryptocurrency market and is likely to have a more significant impact during the upcoming bull cycle. Analyst Michael van de Poppe highlighted that SUI plays a key role in the upcoming cycle.

As of now, SUI is the 8th-highest in TVL for all blockchains, highlighting its growing success. Such a high TVL ranking proves that many are confident in the asset. The Suilend lending protocol has experienced fast growth in the SUI ecosystem.

SUI’s TVL Surge and Bitcoin Synergy

Suilend has achieved fast growth within the SUI ecosystem. Over the past month, the TVL has increased by 90% and now stands at $700 million. As a result of this growth, Suilend now leads the way in lending and has gained attention for its achievements in DeFi.

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Along with boosting its presence in lending, SUI’s other noteworthy point is its connection to Bitcoin-related assets. Around 10% of SUI’s TVL can now be attributed to Bitcoin-based assets, indicating that SUI is actively adding traditional digital technology to the blockchain market. By integrating, SUI can create trust and make its features more appealing to Bitcoin investors.

SUI’s Institutional Push: A Path to New ATH

SUI is now gaining attention from institutional investors. Many institutions have applied to list a SUI Exchange-Traded Fund (ETF), showing their growing interest in the asset. The submission of these ETF applications reveals that investors have confidence in the future of SUI. With institutional support, the credibility of cryptocurrencies is expected to grow, and more people may adopt them in the near future.

Analysts believe that as SUI gains more acceptance in the cryptocurrency world, particularly among protocols and institutional buyers, it will reach new heights. The growth of its ecosystem and solid fundamentals indicate that it will appreciate in value over time. As of press time, SUI is trading at $3.32, showing a 3.67% increase over the past day.

With an increase in both popularity and function, SUI is well prepared to experience strong growth. As its TVL grows and it maintains leading performance, the backing of institutions will ensure SUI has a key role during the upcoming bull cycle. This project has a bright outlook, so it’s worth keeping an eye on in the cryptocurrency market.