SUI Market Data Overview: Upsurge Driven Mainly by the Futures Market, with Spot Inflows Stabilizing in the Past Month

BlockBeats News, May 11th. SUI briefly surged above $1.4 today, currently trading at $1.28, with a 18% increase in the last 24 hours and a cumulative increase of 36.5% over the past 7 days.

According to Coinglass data, in terms of spot trading, the top net inflow in the past 7 days on Binance's USDT trading pair was $17.83 million, followed by Upbit (KRW pair) and Bybit (USDT pair) with net outflows of $11.83 million and $4.18 million, respectively.

As for the futures data, the total SUI futures open interest across all exchanges has surged to $918 million, with a 46.25% increase in the last 24 hours; the 24-hour futures trading volume has soared to $5.4 billion, a 416% increase. The SUI/USDT account long/short ratio on Binance is at 1.37, and the ratio for large accounts is at 1.55.

Overall data shows that in the past 24 hours, there was a net inflow of $36.16 million into SUI futures across all exchanges, and a net inflow of $8.13 million in spot trading. However, looking at a longer time frame, in the past 30 days, there was a net inflow of $8.56 million in SUI spot trading; during the same period, there was a net outflow of $100 million in SUI futures. This indicates that during the month-long consolidation period, although there was a stabilization of funds flowing into spot trading, some investors were also attempting to short.

Additionally, according to Artemis data, the daily active addresses on the Sui network have recently been maintained in the range of 100,000 to 200,000, showing no significant increase, which still significantly lags behind the data at the peak of the bull market.