The cryptocurrency market has been witnessing an influx of exchange-traded fund (ETF) applications. While assets like Dogecoin (DOGE), Solana (SOL), XRP, and Litecoin (LTC) ETFs are being filed, firms have been exploring newer assets. More recently, Canary Capital has submitted paperwork to the Securities and Exchange Commission (SEC) to roll out a SUI ETF. Amidst this, the asset witnessed a slight uptick. But the community is hoping to see a bigger rise during this month.
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Looking Into SUI’s Latest Increase
SUI was one of the very few assets that recorded a rise throughout the past seven days. The cryptocurrency surged by 6.29%. Earlier today, the altcoin went from trading at a low of $2.26 to a high of $2.38. This comes after a 1% increase over the past 24 hours. While this might not be much of a rise, SUI was trading at $2.32, at the time of writing.
The approval of Canary Capital’s filing could act as a significant catalyst for the cryptocurrency. It should be noted that in recent months, Canary Capital has submitted a number of ETFs to the SEC. This includes ones for XRP, Dogecoin, and Solana. This comes ten days after World Liberty Financial (WLFI), a decentralized finance (DeFi) network connected to Trump, said that it would add Sui assets to its token reserve.
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March Price Prediction
According to data from CoinCodex, SUI is all set to record a massive price surge towards the end of the month. The firm revealed that the asset is all set to trade at a maximum price of $7.76 during March. The potential return on investment for the cryptocurrency stands at 232%. The average trading price of SUI this month stands at $4.62. While there are only a few days before the month ends, the community could be in for a major uptick.
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