Sui set a new milestone in decentralized exchange (DEX) activity in Q1. According to Messari’s report, the network’s average daily DEX volume hit an all-time high of $304.3 million, a 14.6% quarter-over-quarter increase. Cetus and Bluefin emerged as the dominant players, which contributed a combined $239.5 million in daily volume, while smaller DEXs like Kriya, DeepBook, and Turbos helped diversify liquidity sources.

The spike in on-chain trading signals a maturing DeFi ecosystem, even as Sui’s native token, SUI, underperformed the broader market.

SUI Underwhelming Performance in Q1

Messari revealed that SUI’s circulating market cap fell 40.3% to $7.2 billion, which is far steeper than the crypto market’s overall 18.2% dip during the same period. Despite this, Sui climbed two spots to become the 13th-largest cryptocurrency by market cap.

On the other hand, Sui’s network fees, which comprise gas fees from transaction execution, including computation and non-refundable storage costs, fell sharply in the first quarter of 2025. Total fees dropped 33.3% quarter-over-quarter to $3.6 million, or 1.0 million SUI.

While the 40.3% decline in SUI’s market price contributed to the drop in fee revenue when measured in dollars, the 44.4% decline in fees denominated in SUI suggests that reduced on-chain activity and lower user demand also played a significant role in the overall decrease. Validator payouts were directly impacted by the slowdown.

DeFi and NFT Activity on Sui

Beyond DeFi, NFT activity remained strong on Sui. Total NFT trading volume reached 13.2 million SUI since the mainnet launch. Leading platforms such as Clutchy, TradePort, and BlueMove drove marketplace traction. Additionally, collections such as Fuddies and SuiFrens: Bullsharks and Capys dominated trading. During the same period, Sui also saw institutional engagement ramp up notably.

Grayscale’s addition of SUI to its Smart Contract Platform Ex-Ethereum Fund in January marked a turning point, which signaled validation from a top digital asset manager. By February, Libre Capital launched its Libre Gateway on Sui, which allowed tokenized access to hedge fund strategies, including offerings from Brevan Howard and BlackRock.

In March, World Liberty Financial announced its decision to partner with Sui. This was followed by yet another notable regulatory development in the same month, when Canary Capital filed for the first US-based SUI ETF.

Meanwhile, Sui’s strong decentralized exchange momentum has faced significant headwinds in Q2 following a major exploit on Cetus Protocol. On May 22nd, a $223 million attack compromised Cetus’ Concentrated Liquidity Market Maker (CLMM) pools, significantly disrupting trading activity. While the protocol has pledged full user compensation, supported by its treasury and a strategic loan from the Sui Foundation, the recovery depends on an on-chain community vote to unlock $162 million in frozen assets.

TL;DR

• The popular AI solution outlined several possible scenarios for XRP’s price trajectory heading into the second half of the year, with the most bullish ones forecasting a surge to double-digit territory.
• Some of the possible catalysts for such mindblowing price pumps include overall market performance and the potential approval of a spot XRP ETF.

XRP to $10 in H2?

Being the centerpiece of a highly vocal community, Ripple’s native token is frequently the subject of massive price predictions even long before its late 2024 breakout that resulted in a surge from $0.6 to $3.4 within months. Although it has lost a lot of steam since then and has been stuck in a consolidation phase for a month now, the XRP army keeps spitting out some ambitious targets for this year.

With H2 of 2025 just around the corner, we decided to ask ChatGPT about its take on how XRP could perform by the end of the year. The AI solution was not short of (bullish) words, indicating that a breakout beyond the crucial resistance at $2.62 can result in an immediate jump back to $3.

From there, the asset’s trajectory north seems clear as long as it manages to rise past the 2018 all-time high of $3.4. Recall that this level was almost matched in January 2025, but the subsequent market correction halted XRP’s momentum, and it has been unable to recapture it ever since.

ChatGPT cited several crypto analysts who asserted that Ripple’s token could enter uncharted territory, reaching above $10 and potentially up to $15, if the US SEC greenlights an XRP ETF and the financial products experience sizeable inflows. The agency has delayed making a decision on several applications, but the odds on Polymarket are quite favorable by the end of the year.

“In H2 2025, XRP could realistically rise to $3–$5, assuming positive catalysts like ETFs and technical breakouts play out.

Hitting $10 or more would require a full-blown bull cycle with multiple strong tailwinds,” concluded the AI bot.

Challenges

Despite the overall bullish perspective, ChatGPT noted that there are certain challenges investors have to consider before blindly allocating funds to XRP (or any other asset, for that matter). In the case of the ever-volatile crypto market, these include global economic uncertainty and overall sentiment, as both factors can impact all assets.

The AI chatbot also mentioned a few factors that can influence XRP’s price, in particular, such as more ETF delays or a lack of progress in terms of Ripple partnerships and network adoption.

Additionally, investors should be aware that a price tag of $10 per XRP would result in a market capitalization of well over $500 billion. It’s not as if this is an impossible number to reach, but it would mean that XRP will be larger than ETH, at least according to today’s numbers.

Bitcoin is currently trading around $105,500, up a modest 1.1% in 24 hours, after a volatile week that saw prices swing between $100,400 and $106,500.

While short-term price action appears calm, with the king cryptocurrency locked in a narrow 24-hour range of $103,500 to $105,800, underlying signals hint at seismic moves ahead. And with the asset now 6.2% down from its May 22 all-time high, the crypto community is divided: double top or liftoff?

Double Top Déjà Vu?

Pseudonymous analyst Cryptowizard took to X on June 7 with a chart comparison between Bitcoin’s current structure and the infamous 2021 double top.

“Bitcoin’s price action is starting to look familiar,’” they wrote. “Just like in 2021, we’re seeing a potential double top formation plays out. Are we setting up for a retrace or $150K next?”

That question has ignited debate across the community. Investor Trade Pro isn’t buying the bearish narrative. “Make no mistake about these pullbacks. I think they are buying opportunities… All signs point to strong continuation to new all-time highs,” they asserted, citing strong on-chain metrics.

Backing that bullish case, Gracy Chen of Bitget says the macro picture is playing directly into Bitcoin’s hands. Trump’s latest 1% rate cut proposal and over $500 billion in expected U.S. Treasury borrowing by Q4 hint at a liquidity tsunami.

“Globally, monetary easing is no longer a question of if, but when,” she noted, calling BTC the ultimate hedge in a world increasingly skeptical of fiat stability. “Bitcoin was built for these shifts.”

Market watcher Axel Adler Jr. also noted that the 30-day volatility is now “highly compressed,” a setup that could just be the basis for a substantial market swing.

Meanwhile, institutional buying continues to lock up supply. Swan CIO Ben Werkman pointed out that allocators, rather than traders, are driving this cycle, accumulating BTC without intent to sell.

“62% of Bitcoin hasn’t moved in over a year,” noted Swan, suggesting that historic dormancy often precedes liftoff, as was the case in 2016 and 2020.

Resistance Ahead?

Still, not everyone is convinced the pump is near. According to Glassnode, at this time, the Short-Term Holder Cost Basis sits at just above $97,000, with crucial thresholds at $83,200 and $114,800.

The blockchain analytics firm predicts that a break below $100,000 could ignite another liquidation cascade, especially after Friday’s $988 million in long liquidations triggered by the very public tiff between U.S. President Donald Trump and his erstwhile political ally, Elon Musk.

Even Daan Crypto Trade isn’t ruling out a deeper retracement. “Below yesterday’s lows at ~$100K and I think we’ll keep trending down for another 1–2 weeks,” he posted on X, pointing to BTC’s weakening correlation with stocks and a sluggish bounce from recent lows.