SUI Price Surges 5% as Sui Blockchain Launches Native Stablecoins USDi and suiUSDe During Market Rally

The native token of Sui blockchain, SUI, experienced a 5% price increase on Wednesday following the project's announcement of its first native stablecoins, USDi and suiUSDe. This development occurs as investor interest in SUI grows, with the token outperforming the broader cryptocurrency market. The CoinDesk 20 Index, which tracks major digital assets, rose 2.5% during the same 24-hour period. SUI's price moved from $3.42 to $3.58 during the trading session, displaying strong bullish momentum according to technical indicators. The token successfully broke through key resistance at $3.56 and established new support at $3.55, supported by increasing trading volume. The rally is fueled by growing institutional adoption, with Coinbase Derivatives scheduled to list SUI futures contracts on October 20, providing more professional traders access to the token. Retail demand is also expanding, particularly in South Korea where t'order, a restaurant-focused payments platform, recently integrated SUI to facilitate transactions using a Korean-won stablecoin. Technically, SUI has been trading within a $0.19 range between $3.39 and $3.58. A morning volume spike of 10.87 million tokens surpassed the daily average of 10.44 million, indicating significant accumulation. The chart pattern shows consecutive higher lows, confirming the upward trend. With sustained buying pressure, SUI could soon challenge the psychological $3.60 level. Currently, SUI ranks among the top-performing tokens in the market, benefiting from both product innovation and strengthening institutional relationships.