SUI price set for new ATH amid native USDC launch

Sui obtained a significant increase after stablecoin issuer Circle introduced assist for native USDC on the layer-1 blockchain platform’s mainnet.
Circle announced native USDC (USDC) was stay on Sui (SUI) on Oct. 8.
Additionally notable for Sui on the day was the announcement by main U.S.-based crypto alternate Coinbase that it had added USDC to Sui on its itemizing roadmap.
The information comes amid a major surge for Sui, which has greater than doubled in worth over the previous month. The cryptocurrency’s value rose sharply after Bybit added Sui on Launchpool.
What does native USDC imply for Sui?
Native USDC signifies that builders and customers on Sui not must bridge the stablecoin and may faucet into its liquidity for decentralized finance protocols, gaming, decentralized bodily infrastructure networks, and non-fungible tokens throughout the Sui ecosystem.
Earlier than Circle launched USDC natively on Sui, the ecosystem used a model of USDC bridged from Ethereum through Wormhole.
This might result in an increase in Sui’s community exercise, doubtlessly pushing its complete worth locked above the present $1.55 billion, in keeping with DeFiLlama.
SUI value prediction
Sui rallied in current weeks after a bull flag breakout, as famous by Scott Melker, a crypto investor and host of the Wolf Of All Streets podcast, in a submit on X.
Sui’s value has retreated 6% up to now 24 hours, according to dips for different high altcoins as Bitcoin (BTC) fell beneath $63,000. Nevertheless, with a 108% improve in 30 days and bulls testing ranges close to the all-time excessive of $2.17 reached in March, is value discovery subsequent?
If bulls maintain close to $2, it’s possible the following surge will push Sui previous its present all-time excessive. Nevertheless, earlier than that occurs, crypto analyst Altcoin Sherpa supplied some warning concerning the altcoin: