Sui Price Soars 7% as Gasless Stablecoin Transfers Launch
Sui price gained as much as 7% in the past 24 hours, trading roughly between $1.04 and $1.11 on May 21, after the Sui network launched gasless stablecoin transfers on mainnet.
The upgrade enables supported stablecoins to be sent peer-to-peer with $0 fees, removing the need for users and businesses to hold a separate SUI balance for transaction gas. Sui said stablecoin transfer fees are now $0.00 for supported assets. The rollout is backed by Fireblocks and is designed to strengthen stablecoin payment infrastructure for tokenized assets and high-frequency digital transactions.
Initial support includes USDsui, SuiUSDe, AUSD, FDUSD, USDB, USDC and USDY. Mysten Labs co-founder Adeniyi Abiodun said the feature targets unnecessary complexity in stablecoin payments, aiming to make dollar transfers simpler and more predictable.
Technically, the upgrade is powered by Address Balances, a new account-style balance system intended to keep the network efficient for high-volume payment activity. Sui also reported stablecoin transfer volume above $1 trillion since August 2025.
From a trading perspective, Sui price is testing a short-term recovery setup after forming a local base near $1.0103 on the 4-hour chart. Analysts flagged bullish divergence (price lows vs. RSI higher lows). Near-term resistance is $1.10–$1.15, while key support sits around $1.0507; a break below could weaken the recovery.
Bullish
This is bullish for Sui in the short term because the news directly reduces friction in stablecoin usage on-chain (no $0 gas fees and no need to hold SUI for payments). That improves the practical “payment UX” and can attract more transfers, supporting demand for the network’s ecosystem.
Similar to past chains that spiked after payment-rail improvements (lowering transfer costs or removing required balances), traders often front-run adoption expectations. The article also ties the upgrade to Fireblocks and institutional/retail wallet rollouts, which can increase the credibility of near-term usage.
Technically, Sui price is already in an early recovery setup with bullish divergence. If Sui price clears the $1.10–$1.15 resistance zone, momentum traders may extend the rally toward the next levels ($1.23 then $1.31). However, the move is still dependent on follow-through; a loss of the $1.0507 support could trigger profit-taking and weaken the structure, shifting the market back to range/trend uncertainty. Long-term, sustained stablecoin transfer volume (reported >$1T since Aug 2025) would be the key confirmation that this feature drives real traction rather than a one-off bounce.