Sui price has climbed 4.43% to $1.23 as Mysten Labs co-founder Adeniyi Abiodun outlined a strategy centered on global payments, stablecoins and AI-agent transactions, while traders watch $1.27 as the next technical hurdle.
Summary
- SUI rose 4.43% to $1.23 today as traders watched $1.27 for potential bullish breakout confirmation.
- Sui has processed more than $1 trillion in stablecoin transfers since August 2025, foundation says.
- Google lists Mysten Labs among collaborators behind AP2, its open protocol for AI-driven payments systems.
- USDsui launched in March through Stripe-owned Bridge, giving Sui a native dollar for payments applications.
- Analysts see $1.27 as immediate resistance, while a $2 target remains conditional on breakout confirmation.
Wu Blockchain published the interview on Oct. 5, with Abiodun arguing that Sui should be viewed as payment infrastructure capable of moving money globally instead of simply another Layer 1 blockchain.
CoinGecko data showed SUI near $1.23 during the session, with a market value close to $5 billion and roughly $878 million in 24-hour trading volume. The token had traded between approximately $1.17 and $1.26 during the day.
Abiodun said Sui’s long-term ambition was to compete with traditional payment infrastructure, going as far as saying its goal over the next several years is to “replace SWIFT.” The statement represents Mysten Labs’ long-term view and does not amount to a forecast that Sui will displace the global bank messaging network.
Sui price is closing in on the $1.27 level
On the weekly chart, SUI is trading above the upper Bollinger Band near $1.19, while the 20-week middle band sits around $0.83 and the lower band near $0.46.
Price moving above the upper band shows stronger upside momentum compared with its recent weekly range, though it leaves SUI extended above its 20-week average. The immediate $1.19-$1.25 area remains important because SUI is testing the upper band and recent weekly highs.
The Relative Strength Index stands at 58.71, above its signal average near 44.19. RSI has recovered above the neutral 50 level but remains below the commonly watched overbought threshold of 70.
Crypto analyst Ali Martinez said on Oct. 2 that SUI had repeatedly formed parallel consolidation channels before breaking higher since Sept. 12. He identified $1.27 as the next level to watch, saying an hourly close above it “could confirm another bullish breakout.”
Price has since moved closer to that threshold without clearly breaking it. CoinGecko showed the token reaching a 24-hour high near $1.26, leaving Martinez’s $1.27 trigger just above the current market.
A second analyst, Celal Kucuker, said a bull flag was approaching resistance. He argued that a break of the pattern during October could bring $2 into view.
Kucuker’s longer-term call for prices above $10 was explicitly tied to a future bull-market scenario. It remains an analyst projection, not a confirmed target supported by current price action.
For now, $1.27 is the closer test. A sustained move above it would place SUI beyond the level Martinez identified, while a return below roughly $1.19 would move price back inside the weekly Bollinger Band.
Stablecoins are becoming central to Sui’s payment push
Abiodun described stablecoins as one of the strongest current uses for blockchain payments because they can operate continuously and settle outside conventional banking hours.
Sui Foundation said in May that the network had processed more than $1 trillion in stablecoin transfer volume since August 2025. The same update introduced gasless transfers for supported stablecoins, allowing qualifying peer-to-peer transactions to execute without users holding SUI for gas.
The feature initially covered assets including USDsui, USDC, SuiUSDe, AUSD, FDUSD, USDB and USDY. Sui’s documentation says eligible transfers can use a zero gas price and budget when they meet the network’s allowlist requirements.
USDsui gives the network its own native dollar asset. Sui Foundation announced its mainnet launch on March 4 through Bridge, the stablecoin infrastructure company owned by Stripe. The token was built for payments, decentralized finance and cross-border transactions.
As previously reported, Sui’s USDsui launch brought a native stablecoin to its payment and DeFi ecosystem after the network processed more than $111 billion in stablecoin transfers during January alone.
Abiodun said USDsui had reached roughly $75 million and named stablecoin liquidity as one metric Mysten Labs will watch when measuring future network adoption.
Recent integrations have extended the payment strategy beyond DeFi. Daya integrated Sui as settlement infrastructure in September, using gasless stablecoin transfers across products serving businesses and developers in Nigeria. The company plans to expand into South Africa, Ghana and Kenya.
RedotPay provides another payment connection, though its official April announcement is narrower than the translated interview suggested. Sui Foundation said RedotPay added support for SUI and native USDC on Sui, giving users access to assets through a payment network that supports Apple Pay and Google Pay. The official release does not identify USDsui as part of that initial integration.
AI agents form the second part of Sui’s strategy
Abiodun expects AI agents to become a major source of blockchain transactions as software begins making payments, purchasing services and moving funds without a person manually initiating every transfer.
His view has some support from Sui’s work with Google. Google announced the Agent Payments Protocol, or AP2, in September 2025 and listed Mysten Labs among more than 60 payments and technology organizations helping develop the open standard.
AP2 is designed to let AI agents initiate payments under verifiable user authorization across different payment systems. Google’s list includes companies such as Mastercard, PayPal, Coinbase, Revolut and Worldpay alongside Mysten Labs.
Sui joined Google’s AP2 effort around programmable payments for AI agents, placing the blockchain among projects testing how autonomous software could interact with digital money.
Sui’s current AI infrastructure combines several products. Walrus handles decentralized storage, Seal manages programmable access controls and Nautilus supports verifiable computing, while Sui coordinates transactions and policies on-chain.
Abiodun argued that such tools could help AI systems prove where information came from and whether it was changed before an agent makes a decision or payment.
Sui tested that type of automated activity in July through programmable tunnels. The foundation reported a peak of 6,086,766 transactions per second during a public experiment involving AI agents, games, payments and chat. The result came from off-chain programmable channels that settle back to Sui mainnet, not normal base-layer transaction throughput.
Sui still faces a gap between payments growth and DeFi TVL
Abiodun acknowledged the decline in Sui’s total value locked during the interview while arguing that stablecoin use, institutional integrations and network activity deserve attention alongside TVL.
Current DefiLlama data place Sui DeFi TVL near $550 million, with stablecoin market capitalization close to $482 million. The tracker recorded roughly 25.3 million network transactions over the latest 24-hour period.
The interview referenced a previous TVL level of approximately $4 billion before a decline toward $1 billion. The $4 billion figure could not be matched to the current DefiLlama dataset reviewed for this report, so it remains attributed to the interview.
Governance remains another part of Sui’s recent history. After the $223 million Cetus exploit in May 2025, validators coordinated around frozen attacker funds and later voted on a protocol upgrade to recover them.
Sui Foundation reported that validators representing 90.9% of stake supported the recovery proposal, with the foundation’s stake excluded from the vote. Approved funds were moved to a multisignature wallet for return under Cetus’ recovery plan.
Abiodun said Mysten Labs and the Sui Foundation cannot independently order validators to freeze addresses, describing such actions as decisions that require validator coordination.
Price traders are now watching a much shorter-term question. SUI is sitting near $1.23 after its latest gain, while the weekly RSI remains below overbought territory and $1.27 stands just above the current trading range.
Martinez’s setup requires an hourly close above $1.27 before his proposed breakout is confirmed. Kucuker’s $2 scenario requires a separate bull-flag resistance break during October, while his $10-plus forecast depends on the much less certain condition of a future bull market.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Be the first to comment