SUI has rebounded 38% in the past seven days, with on-chain activity rebounding, pushing towards new highs. If it pulls back to $3.5, it may become the best entry point.

SUI seven-day big pump of 38%, on-chain active users return to one million According to Arthemis data, the daily active addresses of Sui have recently soared to over 1 million, a significant rebound from the low of 250,000 a month ago. Notably, when the SUI price reached $4 in May, active addresses once surged to 1.8 million, indicating that there is still room for user interest to rise. Although the current price has returned to the vicinity of the May high, the on-chain sentiment has not yet overheated, indicating that the market is still in the "not fully crowded" stage. The influx of funds in the future may become the key driving force for further rise of SUI.

TVL reaches a new high for the year, xBTC becomes the key growth engine The total locked value (TVL) of SUI surpassed 650 million coins at the end of June, setting a new high for 2025. Although the past TVL has not been strongly correlated with price, as Sui attempts to compete with Solana and Ethereum in the DeFi ecosystem, the influence of the TVL metric will continue to increase.

An important variable that is undervalued by the market is the rise of xBTC. As a Bitcoin wrapped asset based on Sui and Solana, xBTC is being vigorously promoted by OKX, providing Bitcoin holders with more avenues for profit. xBTC represents the expansion potential of the BTCFi (Bitcoin DeFi) sector, and even a very small portion of Bitcoin flowing in could trigger exponential growth. Sui itself has a technical foundation of high security, low cost, and strong scalability, making it naturally suitable for carrying such BTC assets, and thus is expected to become a core beneficiary in the BTCFi track.

Technical Analysis: $3.5 may serve as short-term pullback support, gathering strength to challenge the historical high of $5.35 From the daily chart, SUI has successfully broken through the $3.45 key area and continues to rise towards the $4 integer level. This area has alternated as support and resistance multiple times, so investors need to be cautious of short-term pullback risks.

If there is a pullback, $3.5 will be a very attractive support zone, which has historically been a price range with concentrated buying. Once a valid retest is confirmed, it may set the stage for SUI's next wave of momentum. By analyzing on-chain data and market structure, analysts are generally optimistic about the possibility of SUI hitting the historical high of $5-$5.35 in the medium term, especially if the main funds can establish positions around $3.5.

Market sentiment is positive, and SUI may ride the wave of Bitcoin's bull market The overall atmosphere of the crypto market also supports SUI further rising. Bitcoin continues to refresh its historical highs, and the Fear & Greed Index is in the "greed" range of 70, indicating that market sentiment leans towards risk assets. If the market continues its current trend, SUI is expected to once again initiate a strong rise with the combination of technical and fundamental factors.

Gate market shows that SUI is currently at 4.0030 USD, with a 24-hour rise of 2.7%.