The SUI ecosystem hot projects are in full explosion, with Cetus and NAVI leading the rise.

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The SUI ecosystem projects are thriving, with several popular projects performing exceptionally well.

Recently, the cryptocurrency market has shown two major focal points: the meme coin sector continues to be hot, and the strong performance of the SUI public chain. As a Layer 1 project that emerged at the end of this cycle, SUI has faced much controversy due to its token distribution method, but its recent performance has been impressive. Since early September, the price of SUI has soared from $0.76 to $2.16, achieving a remarkable increase of 185% within a month and a half, almost reaching the historical high of $2.18.

This wave of growth is driven by institutional funds, with the narrative being that SUI is expected to replace Solana. The influx of capital has not only pushed up the price of SUI but has also stimulated the prosperity of the entire ecosystem, including significant increases in total value locked (TVL), ecological projects, and even related meme coins.

Is the Solana Killer Narrative Working? A Look at Popular SUI Ecosystem Projects

Here are several projects in the SUI ecosystem worth paying attention to:

Cetus: Leading DEX in the SUI Ecosystem

Cetus is the largest decentralized exchange on SUI, utilizing a concentrated liquidity mechanism similar to Uniswap V3. In addition to basic DEX functions, Cetus also offers a variety of services such as liquidity pools, gun pools, yield vaults, and Launchpad. Its Launchpad feature has become a key factor in driving Cetus to become a leading DEX, with multiple past project IDOs achieving oversubscription.

Currently, Cetus's locked value has exceeded $200 million, ranking fourth in the SUI ecosystem, with an 83% growth over the past month. Its native token $Cetus has increased by 180% in 30 days, with a current price of approximately $0.17, close to the historical high of $0.186. The current market capitalization is $54.52 million, ranking 638th on Coingecko.

Is the Solana Killer Narrative Working? Overview of Popular SUI Ecosystem Projects

NAVI: SUI Native Lending Protocol

NAVI is the first native one-stop liquidity protocol on SUI, similar to Aave on Ethereum. It currently supports lending services for various assets such as SUI, vSui, NAVX, USDT, USDC, CETUS, and WETH. The stablecoin deposit interest rate is approximately 7%, while SUI is 4%.

NAVI is the project with the highest locked value in the SUI ecosystem, reaching $500 million, with a growth of 52% within a month. However, the performance of its token $NAVI has lagged relatively; although it has risen over 150% in 30 days, it is still far from its historical high. Currently, the price of $NAVI is around $0.15, while its historical high is $0.357, with a current market cap of $36.62 million.

Is the Solana Killer Narrative Working? Overview of Popular SUI Ecosystem Projects

Scallop: The Highly Anticipated Lending Protocol

Scallop is another important lending protocol on SUI. In March of this year, Scallop completed a strategic financing of $3 million, with investors including well-known institutions such as CMS Holdings and 6th Man Ventures, as well as SUI's parent company, Mysten Labs. At the end of April, Scallop received a strategic investment from DWF Labs, which will become Scallop's main liquidity provider on major centralized exchanges.

Despite a strong background, Scallop's token $SCA has performed mediocrely since its launch. Recently, with the overall recovery of the SUI ecosystem, $SCA has risen by 52% in the past month, but the increase still lags behind SUI itself and other mainstream ecosystem projects. Currently, the price of $SCA is about $0.376, with a historical high of $1.28 and a current market cap of $20.34 million.

Does the Solana killer narrative work? Overview of popular SUI ecological projects

SUI Ecosystem Meme Coin

In addition to DeFi projects, meme coins in the SUI ecosystem have also attracted investors' attention:

  • HIPPO: Mimicking the popular "Hippo" concept on Solana and Ethereum, with a current market capitalization of $148 million and a 17% increase over the past week.

Solana Killer Narrative Effective? Overview of Popular SUI Ecosystem Projects

  • AAA: A meme coin featuring the image of a black cat, with the community hoping it can replicate the success of Popcat on Solana. It has risen by as much as 293% in the past seven days, with a current market value of 19 million dollars.

Is the Solana killer narrative effective? A look at popular SUI ecosystem projects

  • BLUB: Once the hottest meme coin in the SUI ecosystem. Since its launch on September 1st, it reached a peak market value of 48 million USD, achieving an 11-fold increase. Currently, the market value is 40 million USD, with a slight recent pullback.

Solana Killer Narrative Effective? Overview of Popular SUI Ecosystem Projects

The vigorous development of the SUI ecosystem is a testament to the market's continued interest in emerging public chains. With more innovative projects and capital flowing in, whether SUI can truly challenge Solana's position still requires time to verify. While investors pay attention to these opportunities, they should also fully recognize the high-risk characteristics of the cryptocurrency market.

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ZkSnarkervip
· 07-07 15:42
well technically... SUI is having its moment rn
Reply0
ForkTonguevip
· 07-07 15:40
Rushed in and ran away after making a lot of money.
View OriginalReply0
RektRecoveryvip
· 07-07 15:36
smh... another predictable hype cycle before the inevitable dump
Reply0
HackerWhoCaresvip
· 07-07 15:30
Another big pump from the big boss.
View OriginalReply0
AltcoinAnalystvip
· 07-07 15:29
The TVL growth analysis shows considerable risk; it is advisable to take profits.
View OriginalReply0
TokenStormvip
· 07-07 15:26
Technical Analysis is often wrong, a 60% win rate is already very satisfying.
View OriginalReply0
LiquidatedTwicevip
· 07-07 15:25
Is that it? Essential toolkit for the bull run to da moon.
View OriginalReply0
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