SUI ecosystem projects are gaining popularity, with several applications performing exceptionally well.

Recently, the focus of the cryptocurrency market has been mainly on two directions: first, the continued popularity of meme tokens; second, the strong performance of the SUI public chain. As a Layer 1 project that emerged at the end of the last cycle, SUI has shown impressive price performance recently, rising from $0.76 at the beginning of September to a peak of $2.16, approaching the historical high of $2.18, with an increase of 185% in one and a half months.

The recent surge in SUI is driven by institutional funds, with the core narrative being its potential to replace Solana's position. As funds are injected, not only has the price of SUI skyrocketed, but also the total locked value of its ecosystem, ecological projects, and related meme tokens have benefited.

Let’s take a look at some noteworthy projects in the SUI ecosystem:

Cetus

Cetus is the largest decentralized exchange in the SUI ecosystem, utilizing a concentrated liquidity mechanism similar to Uniswap V3. It offers a variety of products, including trading, liquidity pools, yield aggregators, and more. Cetus also integrates the central limit order book DeepBook and the Wormhole cross-chain bridge, providing users with comprehensive services.

As an important part of the SUI ecosystem, Cetus's Launchpad feature provides an initial token issuance platform for new projects. Currently, Cetus has locked assets exceeding $200 million, ranking fourth in the SUI ecosystem, with an 83% growth over the past month.

The native token of Cetus, $CETUS, has increased by 180% in price over the past 30 days, currently around $0.17, close to its all-time high of $0.186. The current market capitalization is approximately $54.52 million.

NAVI

NAVI is the first native one-stop liquidity protocol in the SUI ecosystem, similar to Aave on Ethereum. It offers lending services and supports various assets, including SUI, USDT, USDC, and more. Currently, NAVI has the highest locked value on SUI, reaching $500 million, with a monthly growth rate of 52%.

Despite the outstanding performance of NAVI's products, the price of its token $NAVI has lagged behind. In the past 30 days, $NAVI has risen by over 150%, but it is still some distance from its historical high. The current token price is approximately $0.15, with a market capitalization of $36.62 million.

Scallop

Scallop is another lending protocol in the SUI ecosystem worth paying attention to. In March of this year, Scallop completed a $3 million strategic financing round, with investors including well-known institutions such as CMS Holdings and 6th Man Ventures. Mysten Labs, the parent company of SUI, also participated, indicating a positive outlook on the project.

The token $SCA of Scallop experienced a period of decline after its launch, but has recently rebounded. It has risen 52% in the past month, although the increase is less than that of the SUI mainnet coin, it still shows a certain recovery momentum. Currently, the price of $SCA is about $0.376, with a market capitalization of $20.34 million.

Meme Tokens

In addition to DeFi projects, some popular meme tokens have also emerged in the SUI ecosystem:

1. HIPPO: Inspired by the Thai internet celebrity hippo "Bouncing Pig". Currently, its market value has reached $148 million, with a seven-day increase of 17%.

2. AAA: A meme token featuring a black cat image, recently performing remarkably well, with a seven-day increase of up to 293% and a market capitalization of approximately 19 million USD.

3. BLUB: Once the hottest meme token in the SUI ecosystem. Since its launch on September 1, it reached a market value of 48 million USD, achieving an 11-fold increase. The current market value is around 40 million USD.

Overall, with the continuous rise of the SUI public chain, its ecological projects are also showing a positive development trend. Whether in the DeFi sector or meme tokens, many projects demonstrate strong growth potential. However, investors still need to be cautious, closely monitor market trends, and assess risks reasonably.