Why is Sui up today?

Sui is outrunning the broader market today: $SUI is up 5.8% over 24 hours and 37.2% on the week, while Bitcoin is flat on the day and up 10.3% over seven days. The clearest coin-specific catalyst is DeepBook's app launch enabling one-minute prediction markets on Sui, a feature aimed at high-frequency trading flow — notable timing given New York's lawsuit seeking to block Polymarket as an unlicensed "illegal gambling operation."

Onchain activity is backing the move. Sui's total value locked reached roughly $1.21 billion in the September 22 snapshot, up from about $1.04 billion on September 21, with NAVI Protocol alone holding more than $420 million in deposits. Mysten Labs also shipped testnet v1.80.1 on protocol version 137, covering protocol logic, GraphQL, JSON-RPC and archival services.

The backdrop is mixed: the Fed opened two stablecoin proposals for comment under the GENIUS Act, while roughly $350 million was drained from wallets labeled as Bitget's. Sui has slipped 1.0% in the past hour. Market cap stands at $4.15 billion on $805.74 million of volume.