SUI price has slipped towards $1.04 as broader cryptocurrency market weakness continues to temper enthusiasm. The token is down nearly 2% in the past 24 hours, with prices dropping even as Sui pushes to expand its utility by enabling fee-free stablecoin transfers. However, as Sui seeks to attract payment flows amid growing stablecoin volumes on the chain, could bulls bounce back to test key resistance levels? The opposite could be a dump to recent support zones. Sui eyes stablecoin adoption Sui’s price struggles come in the week the protocol introduced gasless stablecoin transfers for seven tokens, including USDC. The move means Sui has removed transaction fees for users and positioned the network as a low-cost rails option for global payments. Under the new configuration, users no longer need to hold SUI to send USDC and other supported stablecoins. In this case, the protocol’s gasless feature may materially change user behavior. https://twitter.com/i/status/2057560872390885473 With no per-transfer SUI requirement, stablecoin activity can occur without direct demand for the native token at the point of transfer. That convenience could accelerate stablecoin volume growth on Sui, potentially eroding some market share from entrenched rails such as Tron and Ethereum. For context, the combined stablecoin market capitalization on TRON and ETH stands at roughly $90 billion and $163 billion, compared with a much smaller $500 million stablecoin market cap on Sui. While Sui’s stablecoin market cap remains modest, the removal of transaction fees lowers the barrier for institutional and retail flows to the network. SUI price forecast Network metrics offer mixed signals. SUI’s total value locked (TVL) has decreased significantly from approximately $4.3 billion in October to less than $600 million today, reflecting both withdrawals and the reallocation of liquidity across DeFi ecosystems. The gasless stablecoin capability is an attempt to reinvigorate on-chain activity and attract payment-focused use cases that historically favour lower-cost chains. Meanwhile, technical and on-chain dynamics suggest the token’s price is likely to remain rangebound in the short term unless market-wide risk appetite improves. After the gasless stablecoin announcement, SUI rose modestly from $1.08 to $1.16 on May 21. However, gains were quickly capped amid a broader market pullback. The token has largely stabilized after a pronounced correction from highs above $4.30 in July 2025 and is currently testing an important support zone around $1.10. Sui price chart by TradingView Looking at intraday metrics, we can see trading volume has increased over the past 24 hours. CoinMarketCap data shows this market activity gauge is up about 15% and indicates renewed participation. However, buyers must sustain that momentum for a convincing rally. If buying pressure continues and broader sentiment turns constructive, SUI could test resistance in the $1.20–$1.40 range as traders re-price the token for improved utility and the potential for higher stablecoin throughput on the network. On the flipside, failing to hold the $1.10 support could open the door to deeper declines, with $0.80 likely a downside target. Sustained sell-off pressure could emerge below that level, aligning with both reduced confidence in demand for the token and the broader market’s negative bias. The post SUI price tests key support despite gasless stablecoin transfer launch appeared first on Invezz
