SUI Climbs to 11th Spot with $11.7 Billion Market Capitalization
SUI, the native token of the SUI ecosystem, has climbed to the 11th spot with a market capitalization of $11.7 billion. In doing so, it has overtaken Chainlink, which is currently at $10 billion, and is now hot on the heels of the Tron Network.
SUI’s 24-hour trading volume has skyrocketed by 25%, reaching $3.3 billion. Over the past day alone, the token has jumped 21.38%, and over the last week, it’s posted a parabolic 60% gain. Currently, SUI is priced at $3.58, just 33% away from reclaiming its all-time high of $5.30. With this in mind, Crypto analyst Ted Pillows believes that if this bullish momentum holds, SUI could be on track to hit the $3.80 to $4.00 range by May.
A Pokémon Partnership on the Way?
Rumors of a partnership with Pokémon have caused excitement for SUI. For context, the speculation gained traction on April 23, when Pokémon HOME, a cloud-based storage and transfer service for Pokémon, added a new medal collection feature that allows players to collect and trade medals with one another.
While the feature itself was quite small, a privacy policy update in the app for certain regions caught the attention of the crypto community. The policy now lists Parasol Technologies, a blockchain gaming studio that was recently acquired by Mysten Labs, the creators of the Sui blockchain, as a potential data-sharing partner.
This subtle mention set off a wave of speculation about a deeper connection between Pokémon and Sui. That same day, the Sui Foundation revealed that Parasol would soon launch blockchain-based trading card games. Interestingly, the original blog post briefly mentioned Pokémon NFTs, but the reference was later quietly removed, adding even more fuel to the fire.
Recent Developments Boosting Sui’s Momentum
Sui’s momentum can also be traced to several developments over the past few weeks. According to a recent CNF report, the CBOE filed a spot SUI ETF with the Securities and Exchange Commission (SEC). If approved, the ETF will provide regulated exposure to the SUI token, a radical departure for the asset and confirming its growing legitimacy as a high-speed coordination layer for decentralized and institutional ecosystems.
At the same time, Sui has teamed up with xMoney and xPortal to introduce a virtual Mastercard for European users. The development will allow users to use their cryptocurrency as conveniently as cash, combining everyday usability with the promise of Web3. The collaboration introduces an end-to-end payment solution with a customized Sui wallet experience natively embedded inside xPortal’s app, which boasts more than 2.5 million users today.