SUI, a high performance blockchain, has been making significant strides in recent months. SUI is based on the Move programming language, which was initially developed by Meta (formerly Facebook) for its Diem project. Move is designed specifically for building secure systems. Both SUI and Aptos originated from this project but have since evolved in different directions and for different use cases.
SUI prides itself on its high performance, claiming the ability to process 297,000 transactions per second (TPS) with an average confirmation time of around 400 milliseconds. These figures represent a high standard in the current blockchain landscape, demonstrating its commitment to performance optimization.
Current status
The project has garnered significant attention and investment, with Grayscale’s Sui Trust opening to qualified investors and Binance launching SUI contract trading, further solidifying the fundamentals of SUI. This increased exposure has contributed to a surge in SUI’s token price, which has doubled over the past month.
Source: Coinmarketcap
The SUI ecosystem’s total value locked (TVL) has also seen a substantial increase, surpassing $1.1 billion. This growth is fueled in part by the generous support and subsidies provided by the Sui Foundation to ecosystem projects, distributing a large number of SUI tokens to these projects, which ultimately benefits SUI ecosystem users.
Predictions regarding the evolution of the project and price in the coming months
SUI’s price is currently near its previous high. Whether it can continue to break out independently in the current market environment is difficult to predict, and it may follow the broader market trend in the near future.
SUI has been offering generous subsidies to projects within its ecosystem. If the upward trend in the SUI ecosystem can be maintained, top projects within the SUI ecosystem, such as NAVI Protocol (NAVX), Cetus (CETUS), and Scallop (SCA), are worth watching.
For those with a low-risk preference, they can also participate in USDC or USDT-based investment options within these protocols, which offer relatively higher APYs compared to other ecosystems. For instance, on NAVI Protocol, the Supply APY for USDC and USDT is currently 7% and 7.8%, respectively, while Scallop offers an 18.7% Supply APY for USDT.
Analysis in partnership provided by Bitget Research
