Sui news

The 21Shares 2x SUI ETF (TXXS) marks the 74th crypto ETF to launch this year and the 128th overall, according to Bloomberg.

The 21Shares 2x SUI ETF (TXXS) marks the 74th crypto ETF to launch this year and the 128th overall, according to Bloomberg.

SEC approved a 2x leveraged ETF for the SUI token from 21Shares, allowing investors to double gains or losses through derivatives rather than holding the token. The move follows the SEC’s recent cautionary stance, warning against high‑leverage products after a record $19 billion liquidation event that amplified crypto volatility.

Sui has launched USDsui, a U.S.-compliant stablecoin built on Bridge’s Open Issuance platform. Bridge, owned by Stripe, supplies infrastructure for issuing digital dollars that operate across multiple blockchains. USDsui will be Sui’s native stablecoin, available in wallets, DeFi protocols and other Bridge‑powered tokens. The move follows Sui’s processing of more than $400 billion in stablecoin transfers between August and September 2025. Revenues from USDsui will be reinvested into the ecosystem. Bridge CEO Zach Abrams said the Open Issuance model cuts the complexity and timelines of stablecoin deployment, aiming to spur developer adoption.

The stablecoin is meant to comply with the GENIUS Act, the U.S. government's framework for stablecoins passed this year.

SUI token surged 7.33% to $2.08, breaking resistance at $2.00 and outpacing the CoinDesk 5 benchmark index, which slipped slightly. The move left SUI nearly 7% ahead of CD5, highlighting strong token‑specific demand. Volume spiked 168% to 44 million tokens during the breakout, though overall volume was below the 7‑day average, suggesting targeted accumulation by institutions or whales. Technicals show higher lows from $1.93‑$1.98, with next resistance at $2.07‑$2.08 and a target of $2.34. Analysts cite SUI’s parallel‑processing architecture and ecosystem growth as growth drivers, with a $5 target by 2025.

SUI fell 9.2% to $2.02 after a $116 M DeFi exploit on Balancer rattled sentiment, spiking volume and prompting a wave of selling. Support at $2.08 turned resistance, 42.6 M tokens traded, 68 % above the daily average. Technical analysis flags a further slide below $2.014 toward $1.95, while a bullish reversal would need to reclaim $2.07. CoinDesk's 5 Index dropped 1.15% with all constituents lower.

SUI token dropped 9% to $2.10 over 24 hours, underperforming the broader crypto market by 4.89%. The move shows institutional liquidation: price slid from $2.32 to critical support while trading volume jumped 53 % over the 7‑day average. A decisive breakdown at $2.16, where 99.13 million tokens were traded (628 % above the 24‑hour average), triggered a V‑shaped bounce to $2.04. The recovery stalled near $2.13, a psychological resistance zone, with volume falling as buyers lacked conviction. CoinDesk’s 5 Index also fell 3.35%.

SUI fell 9.1% to $2.29 on Thursday amid fears of a $147 million token unlock in November. The drop was triggered by a break below $2.41 support, causing a surge in volume and a wave of liquidations that pushed the price to $2.27 before stabilizing. Despite the weakness, Momentum DEX reported $26 billion in weekly volume and the SUI Foundation hired Electronic Arts co‑founder Bing Gordon. Short‑term outlook remains cautious, with support at $2.27‑$2.29 and resistance at $2.41 and $2.59; a further slide could push the token toward $2.15‑$2.20.

The collaboration has already enabled more than $2 billion in staked assets since launching in early 2024.