The SUI ecosystem welcomes a new wave of development momentum

Recently, the SUI ecosystem has welcomed a new wave of rapid development. With the unlocking of tokens and the launch of the cross-chain bridge mainnet, as well as the explosion of meme popularity, SUI's market value has surged into the top 20.

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

Market Performance Shines

Since the beginning of 2024, SUI has performed exceptionally well:

• Market Cap Growth: 120% quarter-on-quarter growth in Q4, and an additional 176% increase in Q1.
• Price Trend: Overall, it shows an upward trend, reaching a historical high of $2.18 on March 27.
• Current Price: $1.92(10 October 3, )
• Over 100% increase in the last 3 months

The ecosystem is thriving

Several important projects have emerged in the SUI ecosystem:

DeFi project

• Cetus: DEX with a TVL of $180 million
• DeepBook: the first order book DEX
• Navi: the largest lending platform, TVL of $410 million
• Scallop: Another important lending protocol, TVL $170 million
• Suilend: The first project of Solend on SUI

wallet

• OKX Wallet: Supports multiple chains
• Sui Wallet: one of the most widely used wallets in the ecosystem
• Suiet: open-source self-hosted wallet

Game

• SuiPlay0x1: Lightweight handheld gaming device
• DARKTIMES: Battle Royale Game

Meme Token

• $Hippo: Market cap over $100 million
• $BLUB: similar to "pepe in the water"
• $FUD: An earlier issued meme token

Technical Advantages

The main technical advantages of SUI include:

1. Object-oriented account model: Enhancing flexibility and scalability
2. Native Randomness: Provides secure random numbers for applications such as games.
3. Native zk: supports zero-knowledge proofs, protecting user privacy

Development Prospects and Challenges

Advantages:

• Technological Innovation
• Strong R&D team
• High market enthusiasm

Challenge:

• The market is highly competitive
• Lack of blockbuster applications
• Transparency issues to be resolved

SUI, with its technological innovation and team strength, demonstrates long-term development potential. However, investors still need to closely monitor its ecosystem development and assess the associated risks.