SUI ecosystem TVL breaks 1 billion USD, price hits a new high and market capitalization rises to the top 20.

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The SUI ecosystem is developing rapidly, with TVL exceeding $1 billion.

This week, the SUI token unlock and cross-chain bridge launched on the mainnet, coupled with the boost from popular meme tokens, pushed SUI's market value into the top 20.

Overview

SUI is a permissionless PoS Layer 1 blockchain developed by Mysten Labs, founded by former Facebook Libra/Diem team members. It aims to provide instant settlement and high throughput, supporting a variety of decentralized applications.

Market Performance

SUI performs brilliantly in 2024:

  • Market Cap Growth: Q4 2023 increased by 120% quarter-on-quarter, with a further increase of 176% in Q1 2024.
  • Price Trend: Overall increase, reached an all-time high of $2.18 on March 27.
  • Current Price: $1.92(10 October 3 )
  • 3-month increase exceeds 100%

TVL breaks 1 billion USD, market cap enters top 20, what has happened with Sui recently?

Sui ecological project

The Sui ecosystem is rapidly developing, attracting many developers and enterprises to participate.

DeFi project

5 major protocols with TVL over 100 million USD:

  • Cetus: TVL $180 million, providing a user-friendly trading experience
  • DeepBook: Order book DEX, providing a decentralized liquidity layer for Sui.
  • Navi: The largest lending platform by TVL, managing $410 million in assets.
  • Scallop: Lending Agreement, managing $170 million in assets
  • Suilend: The first project of Solend on Sui

TVL has surpassed 1 billion USD, and market cap has entered the top 20, what has happened recently with Sui?

Wallet Solutions

  • OKX Wallet: Multi-chain wallet, supports SUI
  • Sui Wallet: one of the most widely used wallets in the ecosystem
  • Suiet: Open-source self-hosted wallet

Game Project

  • SuiPlay0x1: Lightweight handheld gaming device, over 2000 units available for pre-sale
  • DARKTIMES: A battle royale game developed by Blowfish Studios, supported by Animoca.

Meme Token

  • $Hippo: Market cap of $129 million
  • $BLUB: Market cap $50.52 million
  • $FUD: Market Cap $36.21 Million

TVL breaks 1 billion USD, market cap enters the top 20, what has happened recently with Sui?

Team Members

Mysten Labs was founded by former executives of Meta( Facebook) and the chief architect of the Diem blockchain.

  • Evan Cheng: Co-founder and CEO, former Engineering Director at Facebook
  • Sam Blackshear: Chief Technology Officer, main designer of the Move language
  • George Danezis: Chief Scientist, PhD from Cambridge
  • Avery Ching: CTO, former senior engineer at Facebook

Token Economics

  • Total Supply: 10 billion SUI
  • Main allocation: 52.2% will be unlocked after 2030, 10.6% community reserve, 9.5% staking subsidy

TVL突破10亿美元,市值闯进前20,Sui近期发生了什么?

Key Events in 2024

  1. The network has been updated to version V1.34.2
  2. Launch the Hydropower Accelerator Program and Enoki Enterprise Solutions Platform
  3. Circle's native USDC launches on the Sui network
  4. Sui Bridge officially launched on the mainnet
  5. Grayscale launches SUI Trust Fund, AUM exceeds 2.5 million USD
  6. Hold multiple community events, such as the Sui Builder House in Singapore.

TVL has surpassed $1 billion, market cap has entered the top 20, what has happened with Sui recently?

SUI technical advantages

  1. Object-oriented account model: Enhancing flexibility and scalability
  2. Native randomness: Provides the foundation for scenarios such as probability games.
  3. Native zk( Zero-Knowledge Proof ): Protecting User Privacy

TVL突破10亿美元,市值闯进前20,Sui近期发生了什么?

Prospects and Challenges

Advantages:

  • Excellent technology: Enhance security and scalability using the Move language
  • Strong team: consists of top talent
  • Market Heat: Gaining widespread attention and capital support

Challenge:

  • Market Competition: Facing competition from other L1 projects
  • Meme Power: The scale of ecological Meme projects is relatively small.
  • Lack of blockbuster applications: There has yet to be an ecological DAPP with a strong wealth effect.
  • Transparency issue: the community has doubts about the tokenomics.

SUI, with its innovative technology and strong team, has the potential for long-term development. However, investors still need to closely monitor its ecological development progress and assess market risks.

TVL broke 1 billion USD, market cap entered the top 20, what has happened to Sui recently?

TVL突破10亿美元,市值闯进前20,Sui近期发生了什么?

TVL突破10亿美元,市值闯进前20,Sui近期发生了什么?

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SigmaValidatorvip
· 21h ago
A bit tough, but what a pity.
View OriginalReply0
MetaverseHobovip
· 21h ago
The bull is not that impressive.
View OriginalReply0
0xSleepDeprivedvip
· 22h ago
Just a sell player.
View OriginalReply0
ThesisInvestorvip
· 22h ago
sui要To da moon咯
View OriginalReply0
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