Axelar Network has integrated with Sui to enable liquidity access and cross-chain interoperability

The integration of Axelar Network into Sui's ecosystem will bring significant liquidity and cross-chain interoperability to both institutions and builders on the mainnet. Announcing the integration on May 8, both teams highlighted how the collaboration will empower scalable and secure multichain deployments.

Through Axelar's Interchain Token Service, developers can now deploy smart contracts once and reach users on multiple networks, facilitated by routers like Squid and wallets like Backpack and SlushWallet.highlighting the implications for asset issuers and cross-chain builders.

"We're thrilled to welcome Sui to the Axelar ecosystem," said Tim Isadore, CEO and co-founder of Axelar. "This integration will bring the blazing speed and efficiency of Sui to institutions and builders on the mainnet today."

Along with providing institutional-grade security and compliance, the integration makes use of Sui's (SUI) zkLogin feature, which is designed to enhance the user experience and facilitate mainstream onboarding into Web3.

This move further expands Sui's footprint following recent integrations and partnerships with Circle (USDC), Stacks (STX), and Mastercard, showcasing the protocol's initiative in expanding its capabilities and forging strategic alliances.

SUI's price rallied over 20% following the announcement but has seen a modest pullback from its 24-hour high of $4.07, which was last seen in December 2023. Now trading at $3.86, the asset is still up 6% over the last day, with trading volume surging 119% to $3.3 billion. The long/short ratio is at 1.0008, indicating a balanced attitude among leveraged traders, while open interest is up 10%, according to Coinglass’s derivatives data.

suggest that the price may be nearing short-term exhaustion as it recently touched the upper Bollinger Band and has since slightly retracted. The relative strength index, which is at 69, is just below the overbought level, suggesting that momentum is slowing down.

However, SUI is trading comfortably above all of the major moving averages in the 10–200 day range, which continue to support a bullish trend. The MACD remains in positive territory while other momentum indicators, such as the Stochastic RSI, display neutral signals.

The uptrend might continue if SUI can stay above the $3.70 support level. A decisive move above the recent high could open the door to new levels around $4.40. On the flip side, a failure to maintain current levels might trigger a retest of the $3.30 zone, where several moving averages converge.

As fundamentals continue to solidify following expanding partnerships and integrations, and technical indicators present a mixed but supportive picture, Sui's price action currently points to a healthy consolidation phase rather than a breakdown.