Sui Price Increases 4% as Swiss Banks Launch SUI Trading Services
Sui’s (SUI) price increased by 4% to $3.82 after Swiss digital asset bank Sygnum added custody, trading, and lending services for institutional clients. This allows regulated investors in Switzerland to hold, trade, and borrow against SUI.
Amina Bank also announced it would provide trading and custodial services for SUI, becoming the first regulated bank globally to support the asset.
Key points:
- Trading volume surged to 36.45 million tokens, over double the daily average of 14.31 million.
- SUI has maintained a support zone between $3.72 and $3.74 since mid-July.
- SUI's monthly performance is up 7%, compared to a 24% rise in the broader CoinDesk 20 Index (CD20).
- Regulated access to Sui may enhance diversification options for institutional clients.
- Sui, developed by Mysten Labs, focuses on high-speed, low-cost transactions using a novel data structure to improve scalability.
The expansion of Sui’s offerings through banks could bolster its competitive position and attract enterprise adoption.