The post SUI Outperforms Top 100 Cryptos After Consensus Upgrade appeared on BitcoinEthereumNews.com.

SUI has been one of the best performers in the past week, gaining 23% as the market reacted to bullish developments. The crypto is also set to receive a massive liquidity boost after Grayscale announced a new fund, but the resistance at $1.171 is proving tough to crack. It’s been a great week for SUI. The token has been one of the best performers in the past ten days, with interest from institutional investors pushing the token’s price to a three-month high. At press time, SUI trades at $1.03, gaining marginally over the past day. However, it was the highest gainer on Thursday at over 11%, and in the past week, it has gained 21%, pushing its market cap to $2.75 billion. One of the key drivers of the token’s newly found momentum was the introduction of the Grayscale Sui Trust, as one analyst noted on X, stating: SUI’s recent price surge, which saw it outperform the broader market with a 16% increase, is largely due to the launch of the Grayscale Sui Trust. This new investment vehicle has attracted attention and likely spurred increased demand for the SUI token! Grayscale launched the new trust on Thursday, offering institutional investors an easy way to gain exposure to the token without the hassle of purchasing the token directly and worrying about its custody.  The new trust’s share price tracks SUI’s market price, “less fees and expenses.” Grayscale Sui Trust is open to eligible accredited investors seeking exposure to $SUI, a third-generation blockchain designed to help address scalability and transaction costs. Click below to learn more about Grayscale Sui Trust or reach out to us: https://t.co/WgCAFA7E8L pic.twitter.com/gic7kJDzF6 — Grayscale (@Grayscale) September 11, 2024 Grayscale first announced its intention to launch a SUI Trust in August, and as CNF reported back then, the…

---

Filed under: News - @ September 14, 2024 2:10 am