TLDR
- SUI jumped 50% in seven days, moving from $0.94 to around $1.41
- Nasdaq-listed SUI Group Holdings staked over 108 million SUI tokens, creating a supply squeeze
- Mysten Labs announced zero-fee stablecoin transfers and private transactions coming to the Sui network
- Veteran trader Peter Brandt called a “major bottom” on the weekly chart and predicted further gains
- SUI has since settled around $1.31, with trading volume up 290% in 24 hours
Sui’s native token has had one of its strongest weeks in months, driven by a mix of institutional moves, developer announcements, and bullish technical signals from well-known traders.
SUI was trading at around $0.94 on May 4. By Sunday, it had climbed to $1.41, a gain of roughly 50% in seven days. Trading volume followed, rising from $213 million to over $2.5 billion over the same period.
The token has since pulled back slightly, sitting at around $1.31 as of Monday.
Supply Squeeze From Institutional Staking
One of the clearest triggers behind the move was a staking announcement from SUI Group Holdings, a Nasdaq-listed company. The firm revealed it had staked its entire SUI treasury — more than 108.7 million tokens — worth over $143 million at the time. That represents around 2.7% of the circulating supply.
🚨 $SUI is up over 20% today and there are multiple reasons for it:
• Nasdaq-listed SUIG staked 108.7M SUI
• 2.7% of supply locked
• Paga partnered with SUI
• Tokenized assets + payments for millions of usersThis is how reversals begin but if you zoom out it is still 78%… pic.twitter.com/fNg1qRdJkb
— Wise Advice (@wiseadvicesumit) May 10, 2026
Ryan McMillin, co-founder and CIO of Australian crypto investment manager Merkle Tree Capital, described this as a “meaningful supply squeeze” and the “clearest near-term trigger” for the rally.
SUI Group Holdings’ own stock also responded, rising 11% to $1.79 according to Yahoo Finance.
McMillin said the Nasdaq angle puts SUI in the same category as BTC, ETH, and SOL in terms of public company treasury exposure, “signaling growing institutional comfort.”
Zero-Fee Transfers and Private Payments
At Consensus 2026 in Miami, Adeniyi Abiodun, co-founder and Chief Product Officer at Mysten Labs, announced plans to launch confidential transactions on the Sui network this year. The feature aims to bring free and private payments at scale, starting with stablecoin transfers.
The plan includes zero-fee stablecoin transfers and privacy-preserving mechanisms that Mysten Labs says will remain compliant with regulations. Abiodun said the feature would later expand to stocks, bonds, and real-world assets.
African payments company Paga Group also announced at Consensus 2026 that it had partnered with Sui to build blockchain-powered cross-border transfers and stablecoin products, focusing on Nigeria.
Abiodun also confirmed that DeepBook Predict, Sui’s prediction market, was going live on testnet. A March report from Bitget Wallet and Polymarket found prediction markets generated $25.7 billion in trading volume that month.
Peter Brandt Flags Major Bottom
Veteran trader Peter Brandt posted on X on May 11, pointing to what he called a “major bottom” on the SUI weekly chart. He stated that “price will trend substantially higher from current levels.”
This is a major bottom. Price will trend substantially higher from current levels$SUIUSDT pic.twitter.com/YS2iiWpKyJ
— The Factor Report (@PeterLBrandt) May 10, 2026
The bottom formed after a steep drop from SUI’s highs near $5. Brandt’s call came as price bounced from support around $0.90 and posted a 20% gain in 24 hours. Other analysts, including Ted Pillows and Crypto Tony, also flagged the move as a potential trend reversal.
SUI futures launched on the CME around the same time, drawing attention from the broader crypto community.
McMillin noted that medium-term success depends on execution — specifically the rollout of zero-fee transfers, Paga integration traction, and stablecoin volume growth.
