Sui Rises: TVL Breaks 1 Billion USD, Market Capitalization Jumps into the Top 20, Ecosystem Rapidly Expands

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TVL breaks $1 billion, market capitalization enters the top 20, a brief analysis of Sui's recent developments

Sui, as an emerging blockchain project, has recently shown outstanding performance. With the unlocking of tokens and the launch of cross-chain bridges, along with the rising popularity of meme tokens, Sui has led a new wave of price increases, with its market capitalization jumping into the top 20.

Sui is a permissionless, PoS-based Layer 1 blockchain developed by Mysten Labs, founded by former members of the Facebook Libra/Diem team. It aims to provide instant settlement and high throughput to support numerous latency-sensitive decentralized applications.

Since the beginning of 2024, the Sui market has performed excellently:

  • Market capitalization has increased significantly, with a 120% quarter-on-quarter growth in Q4 2023, and a further increase of 176% in Q1 2024.
  • The overall price shows an upward trend, reaching an all-time high of 2.18 USD on March 27.
  • As of October 3, the price is approximately $1.92, having increased by over 100% in the past three months.

TVL突破10亿美元,market capitalization闯进前20,Sui近期发生了什么?

The Sui ecosystem is rapidly expanding and has attracted multiple projects to join:

DeFi projects:

  • Cetus: DEX with a TVL of $180 million
  • Navi: The largest lending platform by TVL, managing $410 million in assets.
  • Scallop: Another major lending protocol, managing $170 million in assets

Wallet:

  • OKX Wallet: Supports multi-chain functionality
  • Sui Wallet: One of the most widely used wallets in the ecosystem
  • Suiet: Open-source self-custody wallet

Game:

  • SuiPlay0x1: Lightweight handheld gaming device, 2000 units already presold.
  • DARKTIMES: A battle royale game supported by Animoca

Meme token:

  • $Hippo: market capitalization 129 million USD
  • $BLUB: market capitalization 5052 million US dollars
  • $FUD: market capitalization 36.21 million USD

TVL突破10亿美元,market capitalization闯进前20,Sui近期发生了什么?

The Sui team members come from the Novi research department of Meta(Facebook), including:

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

TVL breaks $1 billion, market capitalization enters the top 20, what has happened to Sui recently?

Token Economics:

  • Total Supply: 10 billion SUI
  • 52.2% will be unlocked after 2030
  • The remaining allocation is for community reserves, staking subsidies, investors, etc.

TVL broke through 1 billion USD, market capitalization entered the top 20, what has happened recently with Sui?

Important events in 2024:

  1. Network upgraded to version V1.34.2
  2. Launch the Hydropower Accelerator Program and Enoki Business Platform
  3. Circle's native support for USDC
  4. Sui Bridge mainnet launched, connecting to Ethereum
  5. Grayscale launched the SUI Trust Fund
  6. Hold multiple community events

TVL突破10亿美元,market capitalization闯进前20,Sui近期发生了什么?

Technical advantages of Sui:

  1. Object-oriented account model
  2. Native Random Number Generation
  3. Native Zero-Knowledge Proof Support

TVL exceeds 1 billion USD, market capitalization breaks into the top 20, what has happened with Sui recently?

Although Sui has a broad prospect, it still faces some challenges:

  • Intense competition from other L1 projects
  • Lack of blockbuster applications
  • The community has doubts about the token economics and transparency.

Overall, Sui demonstrates long-term development potential with innovative technology and a strong team. However, investors still need to closely monitor its ecological development progress and assess market risks.

TVL突破10亿美元,market capitalization闯进前20,Sui近期发生了什么?

TVL突破10亿美元,market capitalization闯进前20,Sui近期发生了什么?

TVL突破10亿美元,market capitalization闯进前20,Sui近期发生了什么?

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MoonRocketmanvip
· 17h ago
TVL To da moon countdown, RSI momentum has reached the launch critical point.
View OriginalReply0
HashBanditvip
· 07-09 14:48
hmm 10b mcap but can it handle my mining rig's power bill tho
Reply0
TopEscapeArtistvip
· 07-08 14:58
The MACD just formed a golden cross pattern and got trapped, feeling exhausted.
View OriginalReply0
DeepRabbitHolevip
· 07-08 10:12
Wow, it's expanding too fast, right?
View OriginalReply0
0xSleepDeprivedvip
· 07-08 10:07
Is it all in? I heard it's really good.
View OriginalReply0
DegenWhisperervip
· 07-08 10:03
play people for suckers that never end~
View OriginalReply0
GateUser-75ee51e7vip
· 07-08 09:48
Isn't this everything about technology meme Decentralized Finance?
View OriginalReply0
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