In the latest ‘Everything Crypto’ podcast, an analyst breaks down SUI’s recent price surge to all-time highs and the factors driving its upward momentum.

The analyst maintains a bullish outlook on SUI, largely due to the tendency for altcoins to outperform Bitcoin during this market phase. SUI’s price has reached new record highs in the recent rally, entering price discovery mode and demonstrating strong upward momentum.

He predicts this growth trajectory is likely to continue, fueled by ongoing ecosystem expansion and SUI’s technological capabilities that set it apart from competitors.

SUI Price Surge: 118% Monthly Gain, New Highs on the Horizon

The price of SUI, a leading layer-one blockchain, has skyrocketed 118% in the past month and 452% over the last year, hitting a new all-time high.

The ‘Everything Crypto’ analyst remains optimistic about SUI’s potential, especially as altcoins typically outshine Bitcoin in the current market cycle. The recent breakout to new highs and ongoing price discovery phase signal more upside ahead.

He anticipates further gains, citing the expanding ecosystem and SUI’s technological advantages over other blockchains.

This price increase has coincided with improvements in key ecosystem metrics, including active accounts, daily transactions, and total value locked. However, some remain skeptical about SUI’s continued uptrend. Recent data from Coinglass showed high exchange inflows for SUI over the past two weeks, potentially indicating selling pressure.

Nevertheless, SUI has demonstrated impressive network performance, even surpassing Solana in daily transactions at one point with 58 million, showcasing its high throughput and fast finality. The network currently boasts a capacity of 297,000 transactions per second with 400-millisecond finality times.

USDC Integration Bolsters DeFi Ecosystem

A major development for SUI is the recent launch of native USDC support, which will enable more robust DeFi applications and provide users with digital dollar savings options outside traditional banking. Native USDC integration eliminates the need for cross-chain bridges like Wormhole, streamlining transactions.

The analyst drew parallels between SUI and Solana, suggesting SUI could mirror Solana’s explosive growth in the previous cycle. With a current market cap around $6 billion – similar to Solana’s valuation in April 2021 before its meteoric rise – a comparable trajectory for SUI could see its price reach approximately $22.5 per token.

Continued ecosystem growth and adoption position SUI as one of the strongest performing altcoins. The analyst emphasized the importance of monitoring key developments, including new token launches and major partnerships that could further boost SUI demand and price.

SUI’s recent price jump was partly attributed to Bybit Launchpool’s decision to support it as its first native token, signaling growing interest in SUI’s potential and capabilities.

Prominent Analyst Forecasts New Highs

Just hours before SUI reached its recent peak, a well-known crypto analyst predicted the possibility of new all-time highs.

Michaël van de Poppe, an influential analyst with over 500,000 followers on X, anticipated a breakout for SUI, projecting potential gains of over 23% from previous levels. He identified $1.79 as a crucial support level that SUI had already bounced from, climbing 10%. His forecast suggested further upside potential, with a target range between $2.25 and $2.50.

At the time of writing, SUI was trading at $2.23, representing a staggering 117% increase since September 12.