SUI integrates the Axelar network to enable liquidity access and cross-chain interoperability across the top chain.
It marks a big turning point for builders and agencies looking for a scalable and secure multi-chine deployment shared by both teams on May 8th. Axelar’s interchain token service allows developers to deploy smart contracts once and contact users across multiple networks using routers such as Squid and wallets such as backpacks and Slushwallets.
Big news for cross-chain builders and asset publishers @suinetwork A live performance was held on Mainnet with @axelar.
Thank you to smart wallets such as @squidrouter + @backpack & @slushwallet.
– sui (@suinetwork) May 8, 2025
The integration provides facility-grade security and compliance, while leveraging the SUI (SUI) Zklogin feature to enhance the mainstream onboarding user experience. This move adds to SUI’s latest integrations and partnerships. This includes those already with Circle (USDC), Stacks (STX), and MasterCard.
The SUI price rose above 20% after the announcement, but saw a slight pullback from $4.07 from its 24-hour high. The asset, currently trading at $3.86, is still up 6% on the last day, with trading volume rising 119% to $3.3 billion. According to Coinglass derivative data, the long/short ratio is 1.0008, indicating a balanced attitude of leveraged traders, but open interest has increased by 10%.
You might like it too: SUI price prediction as ETF filing, defi tvl boosts sentiment
From a technical standpoint, prices may be approaching short-term fatigue as they have recently touched on the upper bollinger band and have since been slightly withdrawn. The relative strength index at 69 is just below the level of overbuying, suggesting that momentum is slowing.
Their price analysis. Credit: crypto.news
However, SUI trades more comfortably than all of the major moving averages over the 10-200 day range, which continues to support bullish trends. The MACD remains in the positive region, with other momentum indicators such as stochastic RSI displaying the neutral signal.
If the SUI is able to exceed the $3.70 support level, the uptrend may continue. A critical move above recent highs could open the door to a new level around $4.40. On the back, failing to maintain the current level could trigger a retest of the $3.30 zone where some moving averages converge.
As the foundation continues to solidify after the expansion of partnerships and integrations, the SUI technical setup now shows a healthy integration stage rather than a breakdown.
read more: SUI for integrating SBTC and stacks into institutional grade BTCFI
