Why has the SUI cryptocurrency skyrocketed? đ
The $SUI cryptocurrency has been in the spotlight lately, and with good reason! Its activity on the network has increased dramatically since Grayscale launched an innovative investment product based on this cryptocurrency.
$SUI I, the native currency of the eponymous network, has seen a notable increase in its price, becoming one of the most prominent digital assets in recent weeks. This bullish momentum is due to a combination of factors, including significant growth in the activity of its ecosystem and the implementation of an exciting technological update.
As CriptoNoticias reported, Grayscale, a renowned digital asset management firm, announced the launch of the Grayscale Sui Trust, an investment product that puts $SUI on the map for investors.
It is essential to highlight that Sui is a decentralized layer 1 network, whose mission is to revolutionize Web3 adoption and address some of its most pressing challenges, such as transaction delays and data processing limitations. đâš
The growing interest in the Sui network is evident: currently, more than 3 million transactions are carried out daily, and the number of active addresses exceeds 1 million, according to data from the on-chain explorer Artemis. Impressive, right?!
In addition, the total value locked (TVL) on the network has surpassed $900 million, representing an incredible increase of 3,285% since its launch in March 2023.
In short, the SUI phenomenon seems to be just beginning, and expectations for the future are more than promising. Keep a close eye on this cryptocurrency, which is sure to give a lot to talk about! đ°đ
