The post Grayscale Makes Bullish Case For SUI, Will Price Rally Sustain? appeared on BitcoinEthereumNews.com.

Asset manager Grayscale has provided a bullish outlook for the SUI price, which is currently witnessing a bull run of its own. The altcoin is already up over 50% this week, with analysts suggesting that this price rally could continue in the short term. Grayscale Highlights Sui Network’s Use Cases Amid SUI Price Rally In an X post, Grayscale stated that the Sui network is building an infrastructure to unify Web2 and Web3. The asset manager added that, from seamless asset control across chains to private on-chain AI data sharing, the network aims to simplify blockchain, payments, and real-world asset integration with user-friendly tools. This statement comes just as the asset manager launched the Grayscale Sui Trust, which is now open to eligible accredited investors seeking exposure to the network’s native crypto. This move is significant as Grayscale will likely file to convert this fund to a spot ETF at some point, just like it has done with some of its other crypto funds. The SUI price rallied over 70% this week, before a recent correction, partly thanks to this move from the asset manager. It is worth mentioning that Canary Capital has already filed to offer a Sui ETF, while other asset managers could also make a similar move soon. The altcoin’s price has also surged this week thanks to its ecosystem’s expansion through the partnership with xPortal and xMone to introduce a virtual Mastercard. This move will boost SUI’s utility, as users pay for goods and services using the altcoin. Meanwhile, the SUI price also boasts a bullish outlook thanks to the network’s total value locked (TVL) and DEX volume. The network’s TVL increased by 38% over the week while surging nearly 7% in a day to reach $1.641 billion. Will The Rally Sustain? In an X post,…

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Filed under: News - @ April 26, 2025 4:18 pm