SUI Group adds 20 million tokens to the treasury – a signal for a new bullish trend?

The price of Sui (SUI) is currently in Accumulation within a falling wedge pattern around the mark of 3.34 USD on Thursday, suggesting a potential breakout as consecutive support signals for the upward trend appear. Notably, SUI Group Holdings Limited (SUI Group) has just added 20 million tokens to its reserves, bringing the total holdings to over 100 million tokens. Meanwhile, on-chain data shows that the number of weekly transactions is increasing significantly. Additionally, the launch of Phase 2 of tBTC on the Sui network is raising expectations for a new wave of DeFi Bitcoin, expanding growth potential for the ecosystem.

The reserve of SUI Group exceeds 100 million tokens

SUI Group Holding Limited (SUIG) – the only public company with an official relationship with the Sui Foundation – has just announced the addition of 20 million SUI tokens to its reserves on Tuesday, bringing its total holdings to over 100 million tokens, with an estimated value of over 300 million USD.

"We will continue to seek funding to repurchase locked SUI tokens at a discount, thereby increasing the amount of SUI per share to provide sustainable value for shareholders," said Stephen Mackintosh, Investment Director of SUIG.

This move not only reflects the long-term confidence from institutions in SUI but also contributes to the reduction of circulating supply, creating conditions to boost demand and the token's value in the market.

On-chain signals are also reinforcing the bullish outlook. According to Artemis Terminal, the weekly trading volume of SUI reached 47.9 million USD in the last week of August – the highest level since April – indicating a strong recovery in network activity and an increasing participation from users.

Sui transaction volume chart | Source: Artemis TerminalIn addition to increased liquidity and trading volume, the Sui ecosystem has also made its mark thanks to new advancements in collaboration. Threshold Network has just launched Phase 2 of tBTC, enhancing the integration level of Bitcoin on Sui following the resounding success of Phase 1. In the early phase, Bitcoin quickly captured 20% of Total Value Locked (TVL) on Sui, with 10 million USD tBTC on Alphalend and over 2.8 million USD in additional liquidity. With Phase 2, Bitcoin DeFi on Sui is entering an acceleration phase, paving the way for a new wave of adoption and more vibrant cross-chain activities.

Price Forecast for Sui: Breakthrough Potential

The price of SUI ( is currently fluctuating within a falling wedge pattern, formed from a series of successive peaks and troughs since mid-July. This is a bullish pattern, usually followed by price breakouts. At the beginning of the week, SUI touched a significant support level at the 50% Fibonacci retracement level around 3.08 USD ) coinciding with the lower edge of the wedge (, before bouncing back 6% in two consecutive sessions. As of Thursday's trading session, SUI is being exchanged around the 3.34 USD mark.

In a positive scenario, if SUI successfully breaks through the resistance line of the wedge and maintains a close above the resistance area of 3.65 USD, the upward momentum could extend, bringing the price close to the peak on July 28 at 4.44 USD.

![])https://img-cdn.gateio.im/webp-social/moments-ca265a5d5f3f118ed7f08949f58e252b.webp(Daily SUI/USDT chart | Source: TradingViewThe technical indicators are also reinforcing this outlook: The daily RSI has risen to 44, approaching the neutral zone of 50, reflecting a gradual weakening of selling pressure. At the same time, the MACD shows that the two signal lines are narrowing the gap, while the red histogram bars are getting shorter – a signal for the potential emergence of a bullish crossover in the near future.

Conversely, if the recovery momentum weakens, SUI may return to test the strategic support zone around 3.08 USD – the 50% Fibonacci retracement level.

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