Its ecosystem is pumping hard rn with new integrations such as Phantom.
The $SOL ecosystem showed the same pattern right before memecoin mania inception
Here is why +4 $SUI altcoins to surge 10x 🧵👇
Sui is an emerging L1 blockchain that is rapidly gaining traction
A key strength of Sui lies in its capacity to handle multiple transactions at once
Built using the Move programming language, it provides developers with a smooth & efficient platform for building applications
Sui has achieved a maximum TPS (transactions per second) of ~300,000, far surpassing Solana's 65,000
Although it's difficult to imagine real-world usage hitting these levels anytime soon, this milestone highlights Sui’s impressive scalability potential
Over the past month, Sui has seen its daily active addresses triple, reaching 1.5 million
As user growth surged, Sui's Total Value Locked (TVL) reached a new all-time high of $989 million, bringing it close to Polygon's $892 million
Recent updates and developments for Sui include:
• Circle launching USDC on the Sui network
• A new partnership with 3DOS
• Introduction of the Hydropower Accelerator program
• The launch of the AUSD stablecoin
• Opening pre-orders for the Sui gaming handheld device
Phantom wallet recently joined the SUI ecosystem. ‼️
I think this will be a good collaboration with a wallet that millions trust.
So we can expect an influx of funds into this network from a new audience soon.
$SUI has been one of the top-performing Layer 1 tokens recently
3 months change:
• $SUI is up +345%
• $SOL is up +82%
However, it's important to note that a significant token unlock is scheduled for October 1, with 64.50M $SUI set to be released
Despite Sui's growth, it still has some ground to cover before it can match Solana's larger overall volumes
The rise in volumes on Sui is being fueled by a mini meme coin season currently underway
Here's a snapshot of how some of these tokens are performing:
• $SUSHI: x21
• $PUGWIF: x23
• $BLUB: x29
• $SUIJAK: x19
• $LIQ: x16
This surge highlights the growing interest in meme tokens on the Sui network
While I recognize Sui’s strengths, I agree that it may not be able to directly compete with Solana in the long term
However, it does present a compelling short-term trading opportunity
$SUI is emerging as the $TIA of this phase of the market cycle, outperforming 95% of its competitors
Holding altcoins from various chain ecosystems can indeed be a more strategic beta play, often serving as a substitute for leveraged trading
Here’s a curated list of key projects within the Sui ecosystem, along with a few notable meme tokens:
$SCA: Scallop
• Price: $0.476
• Market Cap: $60.97M
Scallop is a peer-to-peer money market built on the Sui blockchain
It is notable for being the first DeFi protocol to receive a grant from the Sui Foundation, highlighting its potential & recognition within the ecosystem
$NAVX: NAVI Protocol
• Price: $0.151
• Market Cap: $49.43M
NAVI Protocol is the first native one-stop liquidity protocol on the Sui blockchain, providing a comprehensive solution for liquidity needs within the ecosystem
$TURBOS: Turbos Finance
• Price: $0.005
• Market Cap: $9.70M
Turbos Finance is a non-custodial, hyper-efficient decentralized exchange (DEX) built on the Sui blockchain
It focuses on concentrated liquidity and maximizing capital efficiency within the DeFi space
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