SUI Tests Critical $3.10 Support Level as Institutional Adoption Accelerates

Sui's price is hovering NEAR a crucial support level of $3.10 as market participants evaluate conflicting signals between spot volume surges and cautious derivatives positioning. The token currently trades at $3.13, reflecting an 18% weekly decline despite a 46% spike in 24-hour spot volume to $1.66 billion.

Futures markets reveal a more nuanced narrative - while trading volume increased 23% to $7.48 billion, open interest declined 4.4%, indicating traders are taking profits rather than establishing new positions. This development coincides with strategic partnerships with South Korea's t'order platform and Google AI that signal expanding real-world utility.

The ecosystem continues to demonstrate institutional appeal through high-profile collaborations processing billions in transaction volume. Market analysts view the current price action as a potential consolidation phase before the next upward movement, with the $3.10 level serving as a critical technical threshold.