In the realm of cryptocurrency, the Sui Network, often dubbed the ‘Solana killer’ or the ‘next Solana-like big mover,’ has surged nearly 18% over the past day, attracting the attention of numerous crypto traders as various assets in the market slowly rebound from recent losses.
The remarkable ascent of SUI, currently ranked 28th in market capitalization within the crypto sector, has generated interest in its extraordinary leap above other digital assets in daily gains. Moreover, it has emerged as the second top performer in terms of weekly price hikes.
With SUI recording a significant 17.88% increase today, complementing its 27.23% surge over the last week and a 5.39% rise over the past month, the token has now reached a price of $1.04 as of the latest data retrieved on September 12.
The surge in SUI’s price could be attributed partly to Grayscale’s announcement of opening its newly introduced crypto investment trust for SUI, known as Sui Trust, to accredited investors, providing them with exposure to crypto assets.
Additionally, the growth and development within the Sui ecosystem, particularly the upcoming launch of SuiPlay – a Web3-native handheld gaming device set to debut in the first half of 2025, positions Sui as a prominent player in the Web3 gaming industry.
Furthermore, the recent Mysticeti upgrade has enhanced Sui’s blockchain performance, reducing transaction times, and improving scalability, reinforcing its position as a formidable competitor to Solana and justifying its ‘Solana killer’ nickname.
As the Sui ecosystem continues to evolve within the crypto sector, there is potential for further price escalation of its token. However, given the unpredictability of trends in the crypto market, making precise Sui crypto price predictions remains challenging.
Therefore, conducting thorough due diligence, which includes comprehensive research, staying informed about Sui crypto updates, and carefully evaluating all associated risks, is essential when investing significant amounts in this token or any other asset.
[Read more at Finbold](https://finbold.com/heres-why-solana-killer-skyrocketed-18-today)