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CryptoMedium•11 May 2026•

1 min read

SUI Token Surges 50% on Zero-Fee Stablecoin Plans and Privacy Upgrades

Key Facts

1Adeniyi Abiodun, co-founder of Mysten Labs, announced plans for zero-fee stablecoin transfers on the Sui network.

2Mysten Labs reiterated its ambition to add private transactions to the Sui blockchain to enhance privacy.

The SUI token experienced a significant 50% price spike following strategic announcements from Mysten Labs and developments in staking activities. Adeniyi Abiodun, co-founder of Mysten Labs, announced plans to implement zero-fee stablecoin transfers on the Sui network. Additionally, the company reiterated its ambition to integrate private transactions into the Sui blockchain to enhance user privacy.

This robust performance comes as major Layer-1 tokens show mixed price action, with Sui's move to eliminate fees aimed at competing with networks like Solana and Aptos for stablecoin liquidity. Per market data, this rally reflects growing optimism in the network's scalability, especially after Sui's Total Value Locked (TVL) surpassed record milestones in the previous quarter according to DefiLlama reports.

Technically, SUI is trading at elevated levels as of the close on May 12, 2026, with traders monitoring whether this momentum can be sustained pending further technical updates. Looking ahead, while the economic calendar shows no direct crypto-specific events, upcoming speeches from Fed officials on May 13 may influence broader market risk appetite.