Raoul Pal Calls Sui’s Free Stablecoin Transfers ‘A Big Deal’ – SUI Token Outperforms Bitcoin Amid Crypto Slump

• SUI’s price rose more than 3%, outperforming Bitcoin, after Sui Network launched protocol-level gasless stablecoin transfers on its mainnet.
• Users can now send select stablecoins on Sui without paying gas fees or holding SUI tokens.
• Shares of Sui Group Holdings, which holds SUI on its balance sheet, also gained alongside the token rally.

Sui (SUI) rallied in midday trading Thursday after Real Vision co-founder Raoul Pal, who is also a former Goldman Sachs hedge fund manager, called the network’s newly launched gas-free stablecoin transfers “a big deal,” adding that the long-term cost of moving digital money is headed toward zero.

“The cost of anything digital that is not scarce goes to zero in fees,” Pal wrote in a post on X. “It’s a big deal for zero cost.” His comments and Sui’s rally follow the network’s rollout of protocol-level gasless stablecoin transfers on its mainnet. 

The feature allows users to send select U.S. dollar-pegged stablecoins without paying gas fees or holding SUI tokens in their wallets. It currently supports USDC transfers and is backed by institutional digital-asset custodian Fireblocks.

SUI Outperforms Bitcoin Amid Crypto Slump

SUI’s price rose more than 4% over the past 24 hours to around $1.11, outperforming Bitcoin (BTC) and most major cryptocurrencies during a broader market pullback tied to rising oil prices. On Stocktwits, retail sentiment around the token improved to ‘bullish’ from ‘neutral’ territory over the past day, while chatter climbed to ‘high’ from ‘low’ levels.

Meanwhile, Bitcoin’s price slipped 0.3% over the past 24 hours but continued to hold above the $77,000 level. Retail sentiment around the apex cryptocurrency remained in ‘bearish’ territory, with chatter at ‘normal’ levels.

The Sui network’s move to make stablecoin transfer free arrives amid increasing competition among layer-1 networks to attract stablecoin liquidity and payment volume. Ethereum (ETH), Solana (SOL), Tron (TRX), and Avalanche (AVAX) have all expanded stablecoin infrastructure over the past year amid the stablecoin boom following the passage of the GENIUS Act in July.

The rally in SUI also lifted shares of Sui Group Holdings (SUIG), a public digital asset treasury company that holds 101.796 million SUI tokens on its balance sheet. SUIG’s stock gained more than 7% in midday trade, tracking the strength in the underlying token. Retail sentiment around the company on Stocktwits remained in ‘neutral’ territory, amid ‘low’ levels of chatter.

Read also: Bitcoin, Ethereum Slip After Nvidia Earnings While Oil Surge Spooks Markets

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