Coinbase has opened its SUI staking service to eligible users, who can participate without transferring their tokens out of the platform. According to Coinbase, a minimum of 1 SUI is required to start staking, with the current estimated annualized return ranging from 1.4% to 3.3%, but actual returns will vary depending on network conditions.
You can participate with as little as 1 token.
This service is offered through direct staking within the account, and its availability depends on the user's region. Coinbase states that staking rewards are distributed at the end of each 24-hour network cycle and automatically credited to the staked balance, with subsequent earnings continuing to accumulate based on the updated amount.
From a product design perspective, Coinbase is attempting to lower the barrier to entry for users. Compared to methods that require users to transfer funds to an on-chain wallet or delegate to a validator node, staking within the platform is closer to a custodial account function, making it suitable for users who want to simplify the process.
SUI approaches the $0.78 mark
As Coinbase announced the launch of staking, SUI's price also reached a key resistance area. Market data cited in the article shows that SUI traded around $0.772 on July 22, close to the $0.7806 level. This area has repeatedly suppressed price increases since June.
From a short-term perspective, SUI's recent lows have been consistently rising, with prices repeatedly testing horizontal resistance, which the market interprets as a consolidation pattern before an upward breakout. If it subsequently rises above $0.7806 and receives follow-up buying, the short-term target could be around $0.91.
However, if the $0.78 to $0.82 range remains unbroken, the SUI may continue its current oscillation. The article mentions that short-term dynamic support is roughly around $0.74, with further significant support at the previous daily low of $0.6539.
Hashi testnet is progressing in parallel.
On the same day that Coinbase launched staking, Sui also disclosed the progress of the Hashi testnet. The Sui Foundation stated that more than 25 ecosystem partners have joined the testing phase, including developers, institutions, custodians, and infrastructure service providers.
The Hashi testnet primarily targets Bitcoin-backed financial applications. According to the foundation, participating institutions can test lending, credit, and yield-generating products backed by BTC before the mainnet launch. Sui also mentioned that Wave Digital Assets is one of the initial partners for the participating institutions' testing.
Overall, the addition of staking entry points on trading platforms and the advancement of Bitcoin-related application testing within the ecosystem are bringing new attention to SUI. In the short term, the market focus remains on whether the token price can effectively break through the resistance zone above $0.78.
