The crypto market is buzzing as Sui’s latest integration with Axelar Network unlocks new levels of cross-chain interoperability and liquidity for blockchain builders, DeFi projects, and institutions. As the digital asset landscape shifts toward a connected future, this strategic partnership—announced on May 8—marks a milestone for scalable, secure multichain deployments.
Developers can now leverage Axelar’s Interchain Token Service to deploy smart contracts once and effortlessly interact with users across multiple blockchain networks. Routers like Squid and innovative wallets such as Backpack and SlushWallet further enhance seamless connectivity, setting a new benchmark for interoperability in the DeFi space.
The spotlight is firmly on Sui as its (SUI) token surged over 20% following the news, trading at $3.86 at the time of writing—still up 6% day-over-day with trading volume rocketing 119% to $3.3 billion. Analytics reveal a long/short ratio near equilibrium (1.0008) and a 10% open interest jump, reflecting a balanced yet heightened appetite among leveraged traders.
Sui integrates Axelar Network for cross-chain interoperability amid short-term price rally – 1
From a technical perspective, SUI recently touched the upper Bollinger Band—a signal that short-term momentum may slow as the Relative Strength Index (RSI) hovers at 69, just below the typical overbought threshold. However, the token remains strong above all major moving averages from 10 to 200 days, and the MACD maintains positive territory, underscoring the ongoing bullish trend.
Sui’s latest move also taps into its zkLogin feature, streamlining onboarding for mainstream users and solidifying its appeal for institutional use. This integration follows a broader trend in crypto: driving cross-chain solutions and institutional-grade partnerships for greater real-world adoption—a shift mirrored in projects like Polygon’s expansion in 2023.
If SUI holds above the $3.70 support zone, the ongoing uptrend could target the $4.40 range. Conversely, a drop below current levels may see a pullback to $3.30, where several moving averages converge and offer potential support. With fundamentals and technicals aligning, the stage is set for a healthy consolidation rather than a steep correction.
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As Sui rides its cross-chain momentum, this integration could signal a new phase for multichain DeFi and inspire further collaborations across the crypto space.