Sui Rises Over 40% Following Launch of Bitcoin-Pegged Asset

Sui (SUI) has outpaced the broader crypto market this week, rallying over 40% to hit $4.03 on July 14, driven in part due to the launch of tBTC on its core blockchain.

Decentralized Bitcoin Boosts Sui’s DeFi Credentials

The tBTC launch allows users to mint the token directly on Sui through the Threshold app, marking the first instance of native tBTC issuance on a non-EVM chain. The move enables Bitcoin (BTC) to be used across several DeFi protocols built on Sui, including Bluefin, AlphaLend, Bucket, and AlphaFi.

tBTC is now live on @SuiNetwork 🌊

1/8 Sub-second finality meets decentralized Bitcoin Onchain. Here’s why this changes everything for Bitcoin utility 🧵👇 pic.twitter.com/rEVhUslgUQ

— Threshold Network ✜ (@TheTNetwork) July 7, 2025

tBTC reportedly maintains Bitcoin’s decentralized properties, unlike traditional wrapped Bitcoin tokens that rely on centralized custodians. Its integration with Sui introduces BTC liquidity to a blockchain claiming up to 297,000 transactions per second and finality times of around 400 milliseconds.

The integration expands Bitcoin’s role within decentralized finance (DeFi) and reflects ongoing efforts to build crosschain utility for the asset. So far, the news has helped the SUI token rally better than the crypto market, whose gains in the last seven days stand at around 16%.

Additionally, Kraken, a major crypto exchange, began supporting SUI staking on July 7. Users can now stake SUI with flexible options, including a 1-day bonded product and a liquid “Auto Earn” strategy, making staking more accessible and user-friendly for both experienced and new participants.

That seems to have further boosted SUI’s upside moves in the past seven days.

SUI Eyes $7.67 Next as Bull Flag Pattern Breaks Out

Sui’s latest price action suggests a bullish continuation setup is in play.

On the 3-day chart, SUI/USD appears to have broken out of a classic bull flag, a consolidation pattern that typically forms after a strong upward move. The breakout above the flag’s upper trendline came with a 15% daily surge.

The upside target for the pattern, measured by projecting the height of the flagpole from the breakout point, lands around $7.67. That level aligns closely with the 1.618 Fibonacci retracement level from the previous top, reinforcing it as a key area of interest for bulls.

If follow-through buying continues, SUI may test the $4.60 and $5.39 resistance levels next before targeting the broader breakout objective.