The Sui network’s native token, SUI, has surged 50% in the past seven days after the Nasdaq-listed company invested a enormous portion of the token’s supply and developers announced upcoming features including free stablecoin transfers and private transactions.
SUI was around $0.94 on May 4, rising to $1.41 on Sunday. According to to CoinGecko. During the same period, trading volume increased from over $213 million to over $2.5 billion.
Ryan McMillin, co-founder and chief investment officer of Australian cryptocurrency investment manager Merkle Tree Capital, told Cointelegraph that the rally was likely driven by multiple strengthening catalysts.
He pointed to “significant supply constraints” as the “clearest trigger” after Nasdaq-listed SUI Group Holdings revealed On Friday, SUI’s entire treasury of over 108 million tokens worth over $143 million was staked.
Sui launched its mainnet in May 2023, aiming to provide scalability and speedy enough transaction processing for financial institutions. African payment infrastructure company Paga Group announced on Thursday at the Consensus 2026 conference in Miami that it has partnered with Sui to develop cross-border transfers and blockchain-based stablecoin products.
Private Free Stablecoin Promise
Adeniyi Abiodun, co-founder of Mysten Labs, creators of the Sui network, also announced at Consensus 2026 that free stablecoin transfers and he repeated plans to add a private transaction feature.
Privacy-focused cryptocurrency Zcash (ZEC) surged more than 70% last week as cryptocurrency investors began to pay more attention to privacy-focused projects. Privacy was a significant investment theme for cryptocurrencies in 2025, with the number of privacy-focused tokens growing despite the broader downturn in the rest of the market.
Source: Adeniyi Abiodun
“This positions Sui as a low-friction rail for payments and liquidity, as well as attractive for agent-based AI payments. Nasdaq’s viewpoint is also noteworthy: it puts SUI in the same treasury/public equity access bracket as BTC, ETH, SOL and others, signaling growing institutional comfort,” McMillin added.
“Sui is going from a promising L1 or high beta play to a true adoption story. The combination of institutional staking, zero-fee ambitions, and regulated access to futures is rare among alts. Watch on-chain metrics post-announcement for confirmation.”
At the same time, Abiodun he said The Sui network’s DeepBook Predict prediction market went live on the testnet on Friday. A March report from Bitget Wallet and Polymarket found that prediction markets are among the most dynamic applications on the web, with trading volume that month reaching $25.7 billion.
The success of a rally depends on execution and implementation
As of Monday, SUI has stabilized around $1.31. McMillin said that in the tiny term, the token could extend its rally as supply shocks and product launches generally maintain momentum.
“We are also in an environment where we are seeing green shoots across the cryptocurrency ecosystem and it is increasingly likely that the bear market hibernation is over,” he said.
“Medium term: more uncertain but constructive. Success depends on execution, actual no-fee rollout, Paga integration in Nigeria and stablecoin volume growth. Sui has real technological advantage and usage momentum, but token unlocking and broader crypto cycles remain risks.”
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