Hacker actually led to the growth of the SUI ecosystem? Just one step away from the historical high.

Sui has recovered from the hacker incident, and the listed company Lion has purchased millions of SUI tokens.

Written by: 1912212.eth, Foresight News

On July 28, SUI briefly broke through $4.44, reaching a new high since January of this year. The price of the SUI Token has increased by over 53% this month, achieving four consecutive daily gains since July 24, and also realizing four consecutive weekly gains since June 23. SUI currently has a total market capitalization of $14.7 billion, ranking 11th, with its FDV rising to $43.048 billion. Such an increase in the market capitalization of protocol tokens naturally attracts the attention of many investors in the market.

How has the Sui ecosystem recovered since being hampered in May? What are the reasons behind the strong rise in coin prices?

SUI has recovered from the Cetus Hacker incident

On May 22, Cetus, the largest DEX aggregator on the Sui network, suffered a major security vulnerability attack, resulting in approximately $223 million in liquidity pool being depleted. The attacker manipulated the pool using fake tokens, causing the losses. However, the response from the Sui community and the development team turned the situation around, with the Cetus team pausing trading and initiating a recovery plan, ultimately reclaiming 85% to 99% of the funds, with a total of about $162 million in frozen assets released after community voting. However, the centralized practices resulting from the frozen assets also sparked significant controversy within the community. The Cetus protocol was relaunched in June and plans to shift to a fully open-source model to enhance transparency and security.

defiLlama data shows that after the hacker attack, Sui's total TVL briefly dropped to 1.538 billion USD. As of now, its total TVL has rebounded to 2.296 billion USD, setting a new all-time high.

Its DEX trading volume has steadily recovered since June, with over $550 million in DEX transactions in the past 24 hours and a weekly increase of over 8.79%.

In the past 24 hours, the trading volume of its ecological protocol Cetus reached 225.28 million USD, accounting for half of the total DEX trading volume in the Sui ecosystem, showing a quite rapid recovery momentum.

In terms of stablecoin data, the total market value is 968.38 million USD, which has slightly declined over the past 7 days, but still remains at a historical high. Notably, in the past day, the inflow of USDT surged by 21%.

The number of code commits is used to count the total number of commits made to the project's public GitHub repository. It reflects the level of activity in the codebase. Terminal data shows that after a brief negative impact on its activity at the end of May and beginning of June, the number of code commits quickly rebounded to a high level.

Data indicators prove that the Cetus incident not only did not destroy SUI, but instead is accelerating its maturity.

Public Company Lion Purchased Over 1 Million SUI

The practice of publicly listed companies using their cash reserves to purchase tokens has become a trend. Previously, Strategy's purchase of BTC yielded huge profits, prompting others to imitate, and now reserves for ETH/SOL/ENA and others have followed suit.

In June 2025, Nasdaq-listed company Lion Group Holding Ltd. (LGHL) purchased SUI, SOL, and HYPE Tokens, expanding its cryptocurrency asset reserves to $9.6 million. Data shows that Lion Group purchased 356,129 SUI Tokens.

As a micro-cap company with a market value of only a million dollars, Lion's actions may be limited in scale, but their symbolic significance is considerable.

On July 24, according to SEC documents, Nasdaq-listed company Lion Group increased its holdings of SUI tokens, bringing its total holdings to 1,015,680 coins. At the current price of $4.25 each, this is worth approximately $4.316 million.

Previously, the publicly listed company Everything Blockchain Inc. (EBZT) planned to invest 10 million dollars into five major blockchain networks: Solana (SOL), XRP, Sui (SUI), Bittensor (TAO), and Hyperliquid (HYPE).

Cryptocurrency assets are penetrating mainstream finance, and the Layer-1 positioning of SUI has attracted listed companies seeking high growth. In the future, if more enterprises follow suit, the liquidity and price stability of SUI will further improve.

SUI Spot ETF Expected to be Approved

The potential approval of the SUI ETF marks a key step in the mainstreaming process of cryptocurrency. The U.S. Securities and Exchange Commission (SEC) has officially initiated the review process for Canary Capital's SUI spot ETF application, which was submitted in March 2025 and announced to be delayed by the SEC in June, with the review period potentially extended to 240 days. 21Shares' SUI ETF is also on a similar review track, with the 19b-4 form submitted to Nasdaq starting its evaluation in June.

Similar to the inflow data performance of Bitcoin and Ethereum spot ETFs, if the SUI spot ETF is approved, it will undoubtedly boost market confidence and have a positive impact on coin prices.

In June of this year, Bloomberg senior ETF analyst Eric Balchunas analyzed that the probability of SUI ETF approval is expected to be 60%.

At the beginning of this year, asset management company VanEck released a report stating that SUI is expected to hold a 5.5% market share, with a market value of approximately 61 billion USD. Based on a circulating supply of 3 billion coins, the price per coin could reach 16 USD. Yesterday, Twitter KOL 0x0xFeng tweeted that "SUI should be hitting new highs soon."

In the booming market, SUI is likely to continue leading the market.