Sui Price Jumps as Grayscale Launches DeepBook and Walrus Trusts

The Sui price has jumped 6% in the last 24 hours to trade at #3.88 on an 11% pump in the daily trading volume to $1.67 billion.

SUI Price Soars as Grayscale Unveils New Trusts for DeepBook and Walrus

The surge in SUI price comes after Grayscale launched two new single-asset trusts tied to the Sui ecosystem and a spike in network activity. The trusts let accredited investors buy into the native tokens of DeepBook (DEEP), now at $0.1733, and Walrus (WAL). This comes almost a year after Grayscale’s first Sui product.

DeepBook is an on-chain order book that has handled over $10 billion in trades. Walrus is a platform for programmable data storage and raised $140 million in March 2025 from Standard Crypto and others.

“DeepBook and Walrus are key parts of the Sui ecosystem, helping developers create fast, secure, and decentralized apps,” said Rayhaneh Sharif-Askary, head of product and research at Grayscale. She added that Sui’s design allows faster and cheaper blockchain experiences.

Sui DeFi Growth Pushes TVL to $2.3B

Sui’s DeFi activity has been growing, with total value locked (TVL) reaching $2.3 billion on July 28 before dropping slightly to $2.2 billion. Launched in May 2023 by Mysten Labs, Sui handles many transactions quickly using parallel processing.

Mill City Ventures became the first public company to build a Sui treasury, raising $441 million on July 28 (98% went to buying SUI tokens), then $500 million more on Aug. 1. Its shares have jumped 274% in the past month.

SUI Price Bullish Pattern Points to More Gains

Sui (SUI) is showing signs of a strong bullish move after forming a clear cup and handle pattern on the daily chart. This is a well-known bullish setup that often signals a big price breakout. Right now, SUI is trading at $3.92, up almost 1% in the last 24 hours.

Looking back, SUI first moved in a bullish channel, climbing steadily until it peaked near $5.50. After that, it dropped sharply into a resistance zone around the 0.618 Fibonacci retracement level. The fall stopped at a support zone between $2.00 and $2.30 in March, which has held firm since then.

From this support, the price began to rise slowly, creating the rounded bottom of the cup. Over the past weeks, SUI has been moving sideways, forming the handle. If it breaks above $4.50 with strong momentum, the price could quickly move toward $5.50–$6.00, matching past highs and the target from the pattern.

SUI Targets $4.50 Breakout as Bullish Momentum Builds

The momentum indicators also support the bullish case. The Relative Strength Index (RSI) is at 56.39, showing the market is balanced, not overbought or oversold. The RSI’s bounce from the 50 level hints that buying pressure is building.

The price is also holding above key support levels from the handle pattern, meaning bulls are still in control. However, the $4.50 level is crucial. A daily close above it could bring in more buyers and speed up the rally. If the breakout fails, SUI might drop back to $3.50 or even $3.00 for a retest of support.

In short, SUI is in a bullish setup with “more upside reward” possible if it can clear $4.50. The breakout could send prices back to old highs, and maybe higher, before the quarter ends.