Sui SUI/USD token currently trades at $3.71, an 8% increase in the past 24 hours, according to data from CoinMarketCap. The price increase follows the submission of its first spot ETF proposal by Nasdaq.

The proposal is an important milestone for the Sui network as only major crypto assets like Bitcoin BTC/USD and Ethereum ETH/USD have spot ETFs actively trading.

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According to The Crypto Times, Sun Kim, Nasdaq's Senior Associate General Counsel, has submitted the proposal via a Form 19b-4. The filing is an initial request under the laws of the Securities Exchange Act, and represents a regulatory step toward receiving approval by the SEC. 

Per CoinMarketCap, SUI’s trading volume jumped by 45% in the past 24 hours, while its market capitalization increased by over 7% to $12.23 billion, following the spot ETF news.

According to DeFiLlama, SUI’s total token volume has surpassed $470 billion across both centralized and decentralized platforms. Per Coinrepublic, till May 27, 2025, the SUI network’s average monthly token volume is reported to be over $18.8 billion. A high volume indicates increasing attention to, and utilization of, the network.

Sui Network recently committed an additional $10 million to enhance its ecosystem’s security to build investor confidence. The decision follows a recent hacking attack on the Sui-based DeFi protocol, Cetus.

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Elsewhere, Cetus announced a plan to reimburse every user affected by the $61 million asset loss. The protocol stated its cash, token reserves, and a secured loan from the Sui Foundation are sufficient to cover the stolen assets.

According to Binance Square, Cetus has devised a community vote on a proposal to use protocol funds and a full loan from the Sui Foundation to compensate victims.

The market environment for Sui reflects optimism following the ETF news, and proactive security measures. 

The Cross EMA 50-day acts as a major support level for the Sui price on the daily chart. The 200-day EMA indicates strong support around the $3 mark, per The Crypto Times. The RSI has breached its neutral point, and is trending towards the overbought range on the daily timeframe, which indicates growing buying momentum.

The strong support indicated by the 200-day EMA around $3 suggests Sui could target the $5 price level. According to TradingView, SUI is in the buy zone.

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