SUI spikes 11% as BTC, ETH slide: Here’s why Sui price is surging?

Sui price rose more than 11% as Bitcoin and Ethereum declined below key levels.
SUI gains after ByteDance subsidiary BytePlus chose to enter Web3 via the Sui blockchain.Sui (SUI) traded higher today despite a broader crypto market downturn that saw Bitcoin dip below $61k and Ethereum fall below $3,000.
While Sui price remains below the recent peak above $2.17, its surge to $1.27 in the past 24 hours represents gains of more than 11% and better than most altcoins in the top 100 by market cap.
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