Sui has surged 9% following a partnership between the SUI Network and 21Shares.
On April 30, 21Shares, the crypto exchange-traded products (ETPs) firm, announced a partnership with the SUI network. The strategic collaboration aims at advancing high-performance blockchain utility in institutional finance. 21Shares has moved ahead to file for SUI Exchange Traded Fund (ETFs) under the Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC).
Following this Development, SUI has surged 9% in the past 24 hours as of this writing, according to CoinMarketCap Data. The coin is attempting a breakout above the $3.50-$3.70 key resistance zone, with price fluctuating around this level. Per Coinglass data, the Coin’s open internet has surged nearly 10%, signaling rising market optimism.
With the Open Interest (OI)-Weighted Funding Rate turning positive, SUI’s bullish momentum could be strengthening. Traders are watching the buying pressure and the market’s response to this news to determine their next moves.
