Sui Price Prediction: Mill City III Becomes a ‘De Facto’ SUI ETF – $5 In Sight?

Sui (SUI) has gone down by 4.3% in the past 24 hours and currently sits at $3.56 as Trump’s tariffs seem to have spooked market participants.

Trading volumes have gone up by 60% during this same period as this is a highly contested area from a technical standpoint.

Just hours ago, Sui officially announced that Mill City III Ltd has become the first “public treasury” of SUI tokens.

Announcement on Sui’s Official X Account – Source: X.com

This company raised $450 million through a private placement to invest in SUI and will continue to transfer its balance toward the token.

Pretty similar to what Michael Saylor did with MicroStrategy and Bitcoin (BTC) but Mill City III will focus on Sui instead.

The company has acquired 76.3 million SUI at an average price of $3.6389, meaning that they own 2.2% of the token’s circulating supply at the time of writing.

“This treasury vehicle represents an important bridge for traditional capital markets, enabling more accessible and direct exposure to the Sui ecosystem,” commented the head of the Sui Foundation, Christian Thompson.

Mill City III Becomes a De Facto SUI ETF

Investors can now have access to SUI via the U.S. regulated public stock market by buying shares of MCVT. Although this is not a linear investment in the token, it is the closest that this project has gotten to launching its own exchange-traded fund (ETF).

Mill City III Sui Reserves Disclosure – Source: Sui Blog

It is of course an unorthodox alternative but it works as long as the company devotes all of its assets to invest in SUI. Prior to the launch of this SUI-focused treasury, Mill City III provided “short-term specialty finance solutions, typically in the form of short-term loans, primarily to small businesses, both private and public, and high-net-worth individuals.”

Institutional endorsement of this kind solidifies SUI’s credibility as a well-reputed crypto project. Sui is a direct competitor to Ethereum and Solana in the smart contracts space. Its competitive edge lies in its blockchain’s capacity to process a higher number of transactions per second compared to these other networks.

Since the year started, SUI has booked a 13.7% loss. However, the token rallied strongly last year, moving from $0.77 in January 2024 to an all-time high of $5.35 in January this year.

Sui’s ecosystem has been growing rapidly and the network has already attracted more than $1 billion in stablecoins. Multiple decentralized applications have been built on Sui (SUI) and two native protocols, Sui Lend and NAVI Protocol, boast a total value locked (TVL) exceeding $600 million.

Last Sui Prediction Was Followed to the Letter

In our last Sui price prediction, we emphasized that the token could retreat to the $3.5 area if selling pressure at the $4 level once again caused a strong pullback.

SUI/USD Daily Price Chart (Coinbase) – Source: TradingView

This prediction has been followed almost to the letter by the price action as Sui dropped for five consecutive days (including today) just a day after that article came out.

We are now at a critical juncture as the price has tagged the $3.5 support. This area has acted as both support and resistance in the past and seems to be relevant for market participants.

The Relative Strength Index (RSI) shows that negative momentum is accelerating as the oscillator crossed below the mid-line and its 14-day moving average.

However, as we look at the 1-hour time frame, we can see that the price has reacted positively after hitting that threshold. A large green candle emerged right after and trading volume spiked above the average.

SUI is now hitting some resistance in this lower time frame that coincides with the 9-period and 21-period exponential moving averages (EMAs). If the price surpasses those indicators, that would confirm a bullish outlook and a move toward $4 in the near term at least.