AMA on X

Steadfast Faith After the Security Crisis: Why SUI Still Holds Long-Term Rise Potential? 1. A chain reaction triggered by an attack On May 22, 2023, the leading AMM protocol Cetus deployed on the SUI network suffered a hacker attack. The attacker exploited a logical vulnerability related to the "integer overflow issue" to execute precise manipulation, resulting in a loss of over $200 million in assets. This incident not only represents one of the largest security incidents in the DeFi space so far this year but also became the most destructive hacker attack since the launch of the SUI mainnet. According to DefiLlama data, the total TVL of the SUI blockchain plummeted by over $330 million on the day of the attack, with the locked amount of the Cetus protocol evaporating by 84% in an instant, falling to $38 million. As a result, several popular tokens on SUI experienced a drop of 76% to 97% within just one hour, causing

The Rise of SUI Ecosystem Projects and Meme Coins: Market Trend Analysis Recently, the focus of the cryptocurrency market has mainly concentrated on two aspects: the continuous popularity of meme coin tracks and the strong performance of the SUI public chain. In terms of meme coins, several projects have taken turns to experience explosive price surges, continuously creating a wealth effect. At the same time, SUI, as an emerging Layer 1 public blockchain, has also attracted significant market attention. Despite its token distribution model being controversial, SUI's recent coin price performance has been strong, soaring from $0.76 at the beginning of September to a peak of $2.16, an increase of 185%, approaching an all-time high. The recent SUI market trend is led by institutional investors, and the core narrative behind it is "replacing Solana." As funds pour in, not only does the price of SUI soar, but the total locked value of its ecosystem, ecological projects, and even meme coins also rise accordingly. Let's take a look at some noteworthy aspects of the SUI ecosystem.

TVL突破10亿美元，market capitalization跻身前20，Sui近期动向解析 Overview Sui is a permissionless, PoS-based Layer 1 blockchain developed by Mysten Labs. The project aims to provide instant settlement and high throughput to support a variety of latency-sensitive decentralized applications. The Sui team originated from the original Facebook project Libra/Diem and has garnered capital attention and funding. market performance Sui's outstanding performance in 2024: - Market capitalization growth: A quarter-on-quarter increase of 120% in Q4 2023, followed by a further increase of 176% in Q1 2024. - Price Trend: Overall rising trend in 2024, reaching an all-time high of $2.18 on March 27. - Current price: approximately $1.92 (as of October 3) - Increase: Up more than 100 in the past three months

The SUI ecosystem projects are rapidly rising, attracting a large number of investors, especially the DEX Cetus and the lending protocol NAVI, which have performed exceptionally well. Although its token distribution model is controversial, the SUI Token has risen by 185% since September. Investors need to follow potential projects and carefully assess risks to verify whether they can challenge Solana's position.

The SUI ecosystem has recently welcomed several pieces of favourable information to promote its development, entering the top 20 in market capitalization of crypto assets, with prices rising over 100%. Ecosystem projects are rapidly expanding, with Decentralized Finance, Wallet, and gaming sectors thriving, showcasing technological advantages. At the same time, it faces challenges from market competition and insufficient application.