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SUI prices rise by 50%, driven by multiple factors

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The SUI price rose from $0.92 to a high of $1.39 on May 10th, and is now reported at $1.26, with trading volume increasing from $213 million to $2.5 billion. On May 10th, SUI Group Holdings converted 109 million SUI Treasuries from DeFi protocols to direct pledging, accounting for approximately 2.7% of the circulating supply, with 74% of SUIs already pledged. In addition, CME Group will launch SUI futures on May 29th, and Paga has reached a cross-border payment cooperation agreement in Africa. During the price increase period, the proportion of social interaction was 0.13% -0.15%, lower than the previous peak of 0.38%. On chain data indicates that institutional lock-in is the main driving factor. (Santiment)

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