Key Highlights
- SUI maintains price action around $1.15, successfully defending the $1.00 support zone that previously acted as resistance.
- The Sui Network announced a partnership with ONE Championship, serving as Platinum Sponsor for Basecamp 2026 in Singapore.
- Open interest metrics have surged beyond $1 billion, marking one of the highest levels in recent months.
- Derivatives trading volume approaches $3 billion, significantly exceeding activity seen during August.
- Technical analyst Ali Charts identifies a forming golden cross pattern, projecting a potential target around $4.
The SUI token currently changes hands at $1.15, reflecting a 0.93% decline in the last 24 hours. The digital asset maintains its position above the psychologically important $1.00 threshold that market participants have been monitoring throughout recent trading sessions.
The $1.00 price point has undergone a critical transformation from a resistance barrier into a support foundation. Market bulls drove prices toward the $1.25 to $1.30 range before encountering selling pressure from profit-takers.
Beyond technical price movements, Sui captured attention with strategic developments this week. The blockchain platform revealed that ONE Championship will serve as a Platinum Sponsor for Sui Basecamp 2026, scheduled to occur in Singapore.
Where will the next billion Sui users come from?
Our bet is a billion people watching a fight, one app away from their first Sui transaction.@ONEChampionship and @officialSUIG join us as Platinum sponsors, with @SlushWallet joining as a Gold sponsor at Sui Basecamp.
— Sui (@SuiNetwork) September 29, 2026
The Sui Network team announced the collaboration through its official X platform account. According to their statement, “the next billion Sui users” may emerge from the sports community, positioned just one application away from completing their first blockchain-based transaction.
This strategic alliance provides Sui with another tangible adoption narrative. The collaboration positions the blockchain platform before a sports-focused demographic in advance of TOKEN2049 Singapore.
Derivatives Metrics Show Increased Market Activity
According to CoinGlass analytics, open interest metrics have climbed beyond the $1 billion threshold. This represents one of the most robust figures documented over recent months.
When open interest expands concurrently with price appreciation, it typically signals fresh capital flowing into the market. The trend also indicates heightened participation from derivatives traders establishing positions in SUI.
Market volume has experienced corresponding growth. Derivatives trading volume now approaches $3 billion, substantially exceeding the activity levels witnessed throughout most of August.
Short position liquidations became frequent occurrences during the upward price movement. This phenomenon occurs when market participants wagering on declining prices face forced position closures as the token appreciates.
Long position liquidations subsequently emerged as well. This pattern indicates certain traders secured profits following SUI’s approach toward the $1.30 level.
Industry Perspectives on Sui’s Trajectory
Raoul Pal, Real Vision co-founder and Sui Foundation board member, shared his analysis of Sui during an appearance on the Milk Road podcast. He suggested the smart contract sector will likely consolidate to a select group of dominant players, positioning Sui among this elite category.
Pal drew parallels between blockchain networks and cloud computing infrastructure and programming languages, markets where three to five dominant entities capture the majority share. He acknowledged Ethereum’s current market leadership, controlling approximately 70% of stablecoin circulation and over 70% of decentralized finance activity.
He highlighted three technological advantages he considers competitive strengths for Sui: programmable transaction blocks enabling up to 1,024 operations within a single transaction, zero-fee stablecoin transfers, and built-in privacy with quantum-readiness capabilities.
SUI: GOLDEN CROSS. TARGET $4.$SUI is on the verge of printing a new golden cross, with the 50-day SMA beginning to cross above the 200-day SMA.
This is typically viewed as a major bullish trend signal and could mark the beginning of a longer-term bull market.
The last two… pic.twitter.com/heg6LwERoN
— Ali Charts (@alicharts) September 29, 2026
Technical analyst Ali Charts also provided perspective on the chart structure. Ali Charts indicated that SUI approaches a golden cross formation, where the 50-day moving average crosses above the 200-day moving average, and observed that the previous two golden cross patterns in December 2023 and October 2024 preceded rallies of approximately 240% and 222% respectively, suggesting that a comparable movement could propel SUI toward the $4 price level.
Pal mentioned that Sui currently maintains between 150,000 and 250,000 daily active users. He emphasized that achieving 1 million users would represent a more significant milestone for Sui compared to Solana, which already operates with a substantially larger user base.
At present, market participants continue focusing on the $1.00 support level, while $1.30 represents the immediate resistance zone above current trading prices.
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