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Will it return to $1 or drop again?
#SUI
#Penggerak The main reason behind the rally comes from derivative liquidations. After the staking news, the SUI market recorded approximately $3.13 million in liquidations over the past 24 hours.
It should be noted that nearly 90% of the liquidations, around $2.91 million, came from short traders betting against the rally.
When short positions are liquidated, exchanges automatically buy back the assets to close the trades, creating additional buy pressure upward.
At the same time, trading volume surged nearly 90% to about $808 million. This sharp increase in trading activity indicates traders are re-entering the market aggressively.
Meanwhile, data from Coinglass shows that SUI open interest rose to around $573.5 million.
Bitcoin Stability Supports Altcoin Rotation
The broader crypto market also supports the SUI rally.
As Bitcoin remains stable above the key level of $80,000, traders are reallocating capital back into altcoins and blockchain infrastructure projects.
Layer-1 ecosystems like Sui are attracting stronger inflows as investors seek higher volatility opportunities outside of Bitcoin.
This rotation helps strengthen momentum in the SUI market during today's breakout movement.