Key Highlights
- Sui token has soared above 10%, reaching $1.54 with a market capitalization of $5.68 billion.
- This surge follows the blockchain network’s securing of top stablecoin supply changes, which resulted in an inflow of $2.4 billion in stablecoins.
- The cryptocurrency market has experienced an upward trend following Trump’s announcement of his plan to visit China next year.
On November 24, SUI tokens witnessed an impressive surge of over 10%, climbing to $1.54 with a market capitalization of $5.68 billion.
In the last 24 hours, the SUI token has soared by around 11.19%, according to CoinMarketCap. This jump has also been seen in 24-hour trading volume, reaching $1.04 billion.
Why is SUI Token Soaring?
The Sui blockchain has recorded a substantial surge in capital. According to Jinse, Artemis data, Sui has accumulated a net inflow of $2.4 billion in stablecoin supply over the past 24 hours. With this, it has topped a leaderboard of stablecoin supply changes, followed by Aptos and Ethereum.
This achievement shows the growing popularity of the Sui ecosystem, dramatically increasing activity within its decentralized finance (DeFi) protocols and pushing its total value locked (TVL).
According to DefiLIama, the present total value locked in DeFi revolves around $996.7 million, including stablecoin market capitalization of $653.45 million.
$SUI has reached a key support trendline that has held since 2023.
The last two tests sparked 450% and 750% bull rallies. pic.twitter.com/gU4EbkJqKy
— Ali (@ali_charts) November 24, 2025
According to Ali, a popular crypto analyst on X (formerly Twitter), the cryptocurrency had touched a key support trendline that has held since 2023. Historically, these support levels have been a launchpad for major breakouts. “The last two tests sparked 450% and 750% bull rallies,” he said.
Another major factor behind the surge in activity on the blockchain is leveraged trading, as volumes for perpetual futures contracts are currently more than 5 times higher than spot trading volumes. This indicates that speculative traders are entering the market in force, a trend further confirmed by critical on-chain data.
Funding rates have turned solidly positive, and the open interest is climbing once again. It suggests that bearish short positions are being unwound.
This collective activity shows a major market “shakeout” after a recent price dip, and it is now setting the stage for a major price breakout.
However, ETF filings from Canary Capital and 21Shares are still under SEC review. It means institutional investors are still awaiting Sui-based exchange-traded funds.
Crypto Market Rebounds After Trump Announces China Visit Plans
The cryptocurrency market has witnessed an upward momentum after a major announcement from the U.S. President.
(Source: Trump on Truth Social)
On November 24, President Donald Trump announced that he will visit Beijing in April 2026, accepting an invitation from Chinese President Xi Jinping during a “very good” phone call. Both powerful leaders have discussed Ukraine-Russia, fentanyl precursor reports, soybean purchases, and farm products, which is built on their October 30 South Korea summit that rolled back tariffs after a yearlong truce.
Trump also invited Xi for a U.S. state visit later in 2026. On the other side, Beijing has also confirmed the call.
Trump said, “This call was a follow-up to our highly successful meeting in South Korea, three weeks ago. Since then, there has been significant progress on both sides in keeping our agreements current and accurate. Now we can set our sights on the big picture. To that end, President Xi invited me to visit Beijing in April, which I accepted, and I reciprocated, where he will be my guest for a State Visit in the U.S. later in the year.”
“We agreed that it is important that we communicate often, which I look forward to doing,” he added further.
This announcement has sparked a bullish sentiment in the cryptocurrency community, which is currently facing massive turbulence. The primary reason for this was also a clash between China and the U.S. over the trade agreement.
After Trump announced a 100% tariff on China, the cryptocurrency market has witnessed the biggest liquidation of its history, wiping out over $19 billion in investment from the market, according to Coinglass.
Today’s announcement sparked an upward momentum in major cryptocurrencies like Bitcoin, Ether, and others. At the time of writing, Bitcoin and Ether have soared 1.62% and 4.85% respectively.
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