- As Bitcoin rises above $82,000 kriptovalyuta SUI added a whopping 25% to the price.
- This price jump was facilitated by the decision of SUI Group Holdings to send staking 2,7% of the total number of tokens.
- In addition, the market reacted positively to the news about the development of confidential transactions.
On Sunday Bitcoin crossed the $82,000 mark after waves of volatilitydriven by institutional demand and events in the geopolitical arena. This growth occurred against the backdrop of continued inflow of funds to spot bitcoin ETF and traders’ reactions to progress in cryptocurrency regulation in the US.
Prior to that, Bitcoin briefly fell from $81,430 to $80,520 since US President Donald Trump rejected the latest peace offer Iran, calling it “completely unacceptable.” Markets responded to concerns that tensions in the Middle East would drag on longer than expected.
However, the fall did not last long: Bitcoin turned around and rose by almost 2,3% in three hours, reaching $82,347. According to Coinglass, $126,76 million worth of short positions were liquidated in the last 24 hours.
Spot bitcoin ETF remain one of the main drivers of the current rally. Last week, US spot bitcoin ETF $622,7 million in capital was received, extending the current streak of inflows to six consecutive weeks.
Over the past six weeks, funds have attracted more than $3,4 billion, which analysts attribute to positive changes in the regulatory framework in the United States. The Senate Banking Committee confirmed that will hold hearings on the CLARITY Act on May 14, thereby resuming discussion of one of the most important bills on the market structure in the crypto industry.
At the same time as Bitcoin, almost the entire altcoin market entered the green zone, however, one stands out among them token SUI, up 25% in 24 hours, now trades at $1,34.
One of the catalysts for the price surge was ad SUI Group Holdings announced that it will stake all 108,7 million SUI tokens. This represents approximately 2,7% of the total SUI token supply in circulation.
The token’s surge was also fueled by the announcement that Sui developers would be developing a new token this year. plan run confidential transactions.
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