In the past two days, the price of $SUI token has been very strong. It has risen from about 0.7 to about 1.4 in half a month. The TVL has also broken through the historical high, reaching 1.04 billion US dollars. For an L1 of the Move language with unique advantages, it shows that its ecology is also becoming increasingly prosperous. Some recent major events have further stimulated the price increase, which feels like the early days of SOL.
Why do you say that? As a public chain, SUI has top investment institutions such as Binance Labs, A16z, Coinbase, Jump, and Circle. Its TVL is second only to Polygon. The top three non-EVM chains are TRON and SOL.
On September 17, Circle, a world-renowned stablecoin issuer, announced that it will launch the USD Coin (USDC) stablecoin on the Sui network. This news not only marks the further expansion of USDC, but also means that the Sui ecosystem will usher in more users and capital influx.
With the addition of USDC, the functionality of the Sui network will be further enhanced. Stablecoins provide an important foundation for on-chain liquidity, providing users with a reliable price anchor, ensuring that they can trade easily and with low volatility in decentralized applications.
In addition, the introduction of USDC means that the Sui ecosystem will be more attractive when competing with other Layer 1 blockchains. The support of large industry players, such as stablecoin issuers like Circle, will further enhance the market's trust in Sui, while attracting more developers to build DeFi and other decentralized applications based on Sui.
Compared with Solana, Sui has stronger technical performance and potential for future development, especially in the fields of gaming and decentralized storage.
If Sui can continue to attract more users and capital, especially through the support of major assets such as USDC, it has the potential to become a dark horse in the Layer 1 blockchain field and stand out from Solana.
