Key Takeaways
Sui Network (SUI) is seeing significant accumulation from large-volume buyers in the $0.80 to $1.00 range, according to CryptoQuant data, as the layer-1 blockchain prepares to launch its gasless transaction upgrade next week.
"Large-volume buyers have been aggressively absorbing SUI in the $0.80 to $1.00 range during recent consolidation phases, creating what traders now view as a major macro support pocket," an analyst report from CryptoQuant noted on May 16.
The on-chain activity is supported by ecosystem growth, with wallet provider Ledger reporting a 21.75% increase in SUI trading volume activity over the past week. In the same period, users traded over $200 million in tokenized real-world assets on the Astros AG protocol, while the native stablecoin CurrentSUI saw its supply reach $8.89 million with a 72% utilization rate.
The accumulation precedes a critical network upgrade that will introduce gasless transactions, a move designed to lower the barrier to entry for new users by removing the requirement to hold SUI tokens to pay for transaction fees. This change, which institutional investors often front-run, could significantly impact user onboarding and network activity if successful.
On-chain data for SUI, a layer-1 blockchain focused on speed and security, shows that the recent sideways price action has been used by large-scale investors to build positions. CryptoQuant's Spot Average Order Size metric points toward heavy, institutional-style buying within the $0.90 to $1.00 price band. This area is now seen by market participants as a structurally important demand zone that buyers are expected to defend.
The network's native token, SUI, was trading at approximately $1.05 as of May 16, up 4.2% over the prior 24 hours, suggesting the market is reacting to the increased activity.
The primary catalyst for the increased interest appears to be the network's upcoming "gasless transactions" feature. Scheduled to go live next week, the upgrade will sponsor transaction fees for users, removing a key point of friction for mainstream adoption. This allows new participants to interact with applications on the SUI network without first needing to acquire and hold the native SUI token.
This type of fundamental infrastructure improvement is often monitored and acted upon by institutional capital before it is widely announced or understood by the retail market. The current whale accumulation pattern, combined with the expanding ecosystem activity and the incoming gasless upgrade, positions SUI as a closely watched network among layer-1 competitors like Solana and Aptos.
This article is for informational purposes only and does not constitute investment advice.
