Grayscale Expands Investment Reach with Sui's Core Protocols

Grayscale's Strategic Move

Grayscale's recent expansion into Sui’s core protocols has sent ripples through the cryptocurrency market, with the SUI token surging 5.06% to $3.87 within 24 hours of the announcement. On August 12, the asset manager introduced two new trusts focused on the Sui blockchain’s DeepBook (DEEP) and Walrus (WAL) protocols, moving beyond its existing Sui Trust and marking a strategic shift toward protocol-level investments. These trusts are available to accredited investors and offer exposure to the foundational components of Sui’s architecture—DeepBook’s high-speed order-book system and Walrus’s on-chain data storage.

Market Response and Analyst Predictions

The market responded immediately, with SUI’s trading volume spiking by 32.53% to $1.88 billion in a single day. The token’s price now sits above the $3.75 mid-Bollinger Band, with resistance levels identified at $4.25, $4.50, and $5.00 based on Fibonacci retracement levels. Technical indicators suggest a bullish setup for SUI, with the token recently breaking out of a triangle pattern and maintaining higher lows. Analysts predict potential price targets of $4.20–$6.20, but also warn of high volatility and associated risks.

Institutional Endorsement and Market Impact

Grayscale’s move signals institutional confidence in Sui’s infrastructure capabilities, showcasing a growing interest in blockchain infrastructure that supports high throughput and low latency. While the broader crypto market remains cautious amid regulatory uncertainties, Sui's focus on modular design and move-to-earn capabilities positions it well for broader adoption and recognition. However, the network must continue to prove its long-term utility and stability to retain institutional backing and sustain growth beyond short-term price gains.