SUI was one of the standout altcoins over the weekend, rallying more than 50% in seven days on a stack of overlapping catalysts.
The token climbed to a swing high of $1.40 on Sunday before settling back to around $1.30, with 24-hour trading volume swelling past $2.8 billion, according to CoinGecko. SUI traded near $0.94 on May 4 before grinding higher all week.
Mysten Labs co-founder Adeniyi Abiodun used the Sui Live stage to reveal that confidential transactions are coming to the network this year, posting on X that "the entire internet is about to get FREE PAYMENTS WITH PRIVACY, AT SCALE." The feature pairs zero-fee stablecoin transfers with privacy-preserving settlement and is set to extend to stocks, bonds, and real-world assets. Abiodun also confirmed that DeepBook Predict, Sui's on-chain prediction market, is live on testnet.
The clearest near-term price catalyst, though, came from Nasdaq-listed SUI Group Holdings, which disclosed in its Q1 earnings release that it has scaled its treasury to 108,728,129 SUI as of May 4 and that "substantially all" of those tokens are now being staked at roughly 1.8% yield, generating an estimated 5,200 SUI per day. The position is worth more than $143 million at current prices and represents about 2.7% of the circulating supply. The Defiant covered SUI Group's origin story when the entity, then known as Mill City Ventures, closed a $450 million PIPE last summer to anchor the first foundation-backed Sui treasury vehicle, part of a broader wave of digital asset treasury companies.
