Sui ecosystem TVL exceeds 1 billion USD, market capitalization ranks in the top 20, comprehensive analysis of the latest developments.

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TVL Breaks $1 Billion, Market Capitalization Ranks in Top 20, Recent Developments of Sui

Sui, as a permissionless, PoS-based Layer 1 blockchain, aims to provide instant settlement and high throughput to support a multitude of latency-sensitive decentralized applications. The project was founded by members of the original Facebook project Libra/Diem team and has garnered attention and funding from capital.

Market Performance

According to the market data of 2024, SUI performed excellently:

  • Market capitalization growth: Strong performance since the fourth quarter of 2023, with a quarter-on-quarter growth of 176% in the first quarter of 2024.
  • Price Trend: Overall upward trend in 2024, reaching an all-time high of $2.18 on March 27.
  • Current Price: $1.92 (as of October 3, 2024)
  • All-time high: $2.18 (March 27, 2024)
  • Increase: Up more than 100% in the past three months

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

Sui Ecosystem Projects

Since the Sui mainnet went live, its ecosystem has rapidly expanded, attracting numerous developers and companies to participate.

DeFi project

Currently, there are 5 protocols with a TVL exceeding 100 million USD:

  1. Cetus: A decentralized trading platform with a TVL of $180 million.
  2. DeepBook: The first order book DEX in the Sui ecosystem.
  3. Navi: The lending platform with the largest TVL, managing $410 million in assets.
  4. Scallop: Another important lending protocol managing $170 million in assets.
  5. Suilend: Solend's first project on Sui.

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

wallet solution

  • OKX Wallet: Supports multi-chain functionality, including seamless integration with the Sui chain.
  • Sui Wallet: One of the most widely used wallets in the Sui ecosystem.
  • Suiet: An open-source self-custody wallet built on the Sui blockchain.

Game project

  • SuiPlay0x1: A lightweight handheld gaming device, with over 2000 units available for pre-sale.
  • DARKTIMES: A battle royale game on Sui, developed by Blowfish Studios with support from Animoca.

Meme Token

The meme tokens on Sui draw inspiration from successful cases in the Solana ecosystem, combined with the hydrological characteristics of Sui. Mainly includes:

  • $Hippo: market capitalization of approximately $129 million
  • $BLUB: market capitalization of approximately $50.52 million
  • $FUD: market capitalization approximately $36.21 million

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

Team Members

Mysten Labs was founded by former executives from Meta (Facebook)'s Novi Research and the chief architect of the Diem blockchain and Move programming language. Core members include:

  • Evan Cheng: Co-founder and CEO, former Engineering Director at Facebook
  • Sam Blackshear: Technical Director, Principal Designer of the Move Programming Language
  • George Danezis: Chief Scientist, Cambridge PhD, USL Professor
  • Avery Ching: Chief Technology Officer, former Senior Engineer at Facebook

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

Token Economics

  • Total Supply: 10 billion SUI coins
  • Main Distribution:
    • 52.2%: Unlock after 2030
    • 10.6%: Community Reserves
    • 9.5%: Staking Subsidy
    • 7.1%: Series A investors
    • 7%: Series B investors
    • 6.1%: Early Contributors

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

Key Events of 2024

  1. Network iteration update: The mainnet has been upgraded to version V1.34.2, and the protocol has been upgraded to version 60.
  2. New platforms and tools launched: Hydropower plan, Enoki platform, etc.
  3. Circle's native USDC has officially landed on the Sui network.
  4. Sui Bridge officially launched on the mainnet, connecting Ethereum and Sui.
  5. Grayscale launched the SUI Trust Fund, with assets under management exceeding $2.5 million.
  6. Community events: Sui Builder House Singapore station, Sui Connect New York station, etc.

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

Advantages of Sui Technology

  1. Object-oriented account model: Improve network throughput and response speed.
  2. Native Randomness: Provides secure random numbers for probability games, NFT allocations, etc.
  3. Native zk (Zero-Knowledge Proof): Protects user privacy and supports zkLogin functionality.

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

Prospects and Challenges

Advantages:

  • Excellent technology: Utilizes the Move programming language to provide higher security and scalability.
  • Strong team: Composed of top talents from Facebook and Novi Research.
  • Market popularity: Gained widespread attention and capital support.

Challenge:

  • Market competition: Facing fierce competition from other L1 projects.
  • The momentum for meme projects is insufficient.
  • Lack of blockbuster applications.
  • Transparency issues: The community has doubts about the tokenomics and project transparency.

TVL broke through $1 billion, market capitalization entered the top 20, what happened to Sui recently?

Conclusion

Sui, with its innovative technical architecture and strong team support, has long-term development potential. Its object-oriented account model, native randomness, and zero-knowledge proof technologies are uniquely advantageous. However, it still faces challenges in the future. Potential investors should closely monitor its ecological development progress, especially the launch of new applications and innovations, and conduct a detailed assessment of market risks.

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

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CountdownToBrokevip
· 14h ago
When will the market crash?
View OriginalReply0
BearMarketBuildervip
· 14h ago
The floor price was already inactive, and then it rose, damn it.
View OriginalReply0
ImpermanentTherapistvip
· 14h ago
Tsk, this wave isn't a loss.
View OriginalReply0
AirdropHunterZhangvip
· 14h ago
play people for suckers too much, just run after the shearing.
View OriginalReply0
GasFeeCryingvip
· 14h ago
To da moon谢特 The rest is just wandering.
View OriginalReply0
SerumSquirtervip
· 14h ago
I don't believe sui hasn't To da moon.
View OriginalReply0
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