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CATEGORY: sui network


SUI PRICE ANALYSIS & PREDICTION (September 17)  SUI Breaks Above $1 Following 14% Surge, Set For A Massive Gain

Author: Michael Fasogbon
United States
Sep 18, 2024 03:05

SUI PRICE ANALYSIS & PREDICTION (September 17) SUI Breaks Above $1 Following 14% Surge, Set For A Massive Gain

Since the price recovered significantly from the bottom last month, SUI has been in an upward range as demand level rises. Its popularity is becoming strong by the day following a steady price growth. The past couple of weeks have been an interesting period for SUI as it continued to […]

Sep 18, 2024 02:15

USDC and Cross-Chain Transfer Protocol to Launch on Sui Network


The Sui Network is set to integrate USDC, enhancing DeFi utility and interoperability through increased liquidity and streamlined transactions. (Read More)

SUI PRICE ANALYSIS & PREDICTION (September 12)  SUI Sees 18% Gain As It Poises For Bullish, Leading Daily Altcoins Rally

Author: Michael Fasogbon
United States
Sep 13, 2024 03:05

SUI PRICE ANALYSIS & PREDICTION (September 12) SUI Sees 18% Gain As It Poises For Bullish, Leading Daily Altcoins Rally

After breaking above a resistance line in August, SUI went through a short retracement and regained momentum. It advanced bullishly this month and led daily altcoins rally with 18% gains in the last 24 hours. Last month saw SUI through an end of a serious five-month correction after testing a […]

3DOS launches decentralized global 3D-printing service on Sui

Author: Cointelegraph by Tristan Greene
United States
Sep 13, 2024 12:00

3DOS launches decentralized global 3D-printing service on Sui

The company says it has nearly 80,000 printers spread across 120 countries.

SUI PRICE ANALYSIS & PREDICTION (August 9)  SUI Signals Bullish Following A 30% Surge But Yet To Break Bearish Structure

Author: Michael Fasogbon
United States
Aug 10, 2024 03:05

SUI PRICE ANALYSIS & PREDICTION (August 9) SUI Signals Bullish Following A 30% Surge But Yet To Break Bearish Structure

SUI shows signs of a bullish reversal following a slight breakout of a resistance line. Its bearish structure remains intact but is leading the top gainers chart with a traded volume of $400 million in the last 24 hours. From a peak of $2.2, SUI initiated a drop and lost […]

SUI PRICE ANALYSIS & PREDICTION (August 14)  SUI Posts 5% Loss Daily But Can It Find Support Above This Trendline?

Author: Michael Fasogbon
United States
Aug 15, 2024 03:05

SUI PRICE ANALYSIS & PREDICTION (August 14) SUI Posts 5% Loss Daily But Can It Find Support Above This Trendline?

After closing last weeks trading above a crucial resistance line, SUI advanced buying this week and reached a new milestone after two months of trading. It signals a bullish move but is currently down on the day. Lifting off the $0.46 level last week, Sui increased by over 100% and […]

Sui expands custody with Copper to attract institutional finance

Author: Cointelegraph by Derek Andersen
United States
Jun 27, 2024 12:00

Sui expands custody with Copper to attract institutional finance

The two-year-old layer-1 blockchain is teaming up with the digital assets financial services provider to create new infrastructure options.

SUI Hype Grows As Price Action Points To A Rally: $4 Level In Focus

Author: Sebastian Villafuerte
United Kingdom
May 03, 2025 12:10

SUI Hype Grows As Price Action Points To A Rally: $4 Level In Focus

SUI is now trading at a pivotal level after confirming a bullish structure on the short-term chart. Following a strong recovery from its local lows in early April, the Layer-1 token has steadily climbed, showing clear signs of renewed investor interest. However, while the uptrend remains intact, the $4 resistance zone stands as the next major obstacle that bulls must overcome to confirm a decisive breakout. Related Reading: HYPE Confirms Strength With Solid Throwback Response Bullish Reversal? Market sentiment has been shifting as altcoins regain strength alongside Bitcoins consolidation above $95K. In this context, SUI has emerged as one of the stronger performers. Still, the challenge lies in clearing the $4 level with volume, which could unlock further upside potential and open the path toward price discovery. Top analyst Kaleo shared an insightful analysis on X, noting that SUI is gaining momentum and looks poised to reclaim the $4 mark soon. According to Kaleo, this level could act as the launchpad for the next leg higher, provided bulls maintain pressure and volume supports the move. With macro uncertainty still clouding the broader market, SUIs upcoming price action could serve as a barometer for altcoin strength in the near term. SUI Leads Altcoins As Bulls Target $4 SUI has emerged as one of the most resilient and promising Layer-1 (L1) blockchains in the current market cycle. A Layer-1 blockchain refers to the foundational network infrastructure of a blockchain ecosystemexamples include Ethereum, Solana, and now SUI. These platforms host smart contracts and decentralized applications (dApps), and their strength often defines how much developer activity and user engagement they attract. In this context, SUI is positioning itself as a serious contender in the competitive L1 space. Amid growing volatility and macroeconomic uncertainty, SUI has held up remarkably well, showing strength even as other altcoins remain trapped in consolidation. Its relative strength against Bitcoinoften a key indicator of altcoin momentumhas not gone unnoticed. Kaleo recently noted that SUI is displaying a solid performance versus BTC and appears ready to reclaim the $4 level, a major resistance area that has capped the upside for weeks. A clean break above $4 could trigger a broader rally, especially if market conditions remain favorable for altcoins. However, despite the bullish signals, risks remain high. Some analysts warn that the market could face another retrace as global tensions and uncertain liquidity conditions continue to shape sentiment. In such an environment, investors are watching closely to see if SUI can defy the trend. Its recent strength suggests it could outperform other L1s during the next phase of the market, especially if capital rotates back into high-potential altcoins. Related Reading: Dogecoin Whales Buy 100 Million DOGE In 24 Hours Demand Signals Growing Confidence With bullish structure intact and volume beginning to build, SUI could be one of the first major altcoins to lead the chargeif the breakout above $4 confirms. Price Holds Key Support Ahead Of Breakout Test SUI is currently trading at $3.46, holding firm above the 200-day moving average (MA), which sits around the $3.25 level. This key technical support has acted as a strong foundation during recent volatility, signaling that bulls still maintain control of the short-term structure. As long as SUI stays above this zone, the possibility of continuation remains intact. The next major hurdle lies at the $4 marka psychological and technical resistance level that has rejected price advances several times in recent weeks. A decisive breakout above $4, followed by a close above the $4.20 area, would confirm a bullish setup and could trigger further upside momentum toward new highs. However, caution is warranted. If SUI fails to reclaim $4 and slips below the $3.20 level, it may test deeper support near the $2.80 zone. Losing this range could shift sentiment and open the door to a broader correction, especially if weakness returns to the overall altcoin market. Related Reading: Whales Sell 262,000 Ethereum Amid Recent Price Surge Smart Exit Or Profit-Taking? For now, bulls are in a position of strength, but confirmation requires sustained buying pressure and a clean breakout above overhead resistance. The coming sessions will be key in determining whether SUI can lead the next altcoin rally. Featured image from Dall-E, chart from TradingView

SUI Forms Inverse Head And Shoulders  Can Bulls Break Above $2.52?

Author: Sebastian Villafuerte
United Kingdom
Apr 04, 2025 12:05

SUI Forms Inverse Head And Shoulders Can Bulls Break Above $2.52?

SUI is currently down 56% from its January all-time high, consolidating around a key support level as the broader market battles ongoing volatility and selling pressure. Like much of the crypto space, SUI has been hit hard by global macroeconomic uncertainty and investor risk aversion, leading many analysts to expect a continuation of the downtrend. With both traditional and crypto markets under pressure, bearish sentiment continues to dominate headlines. Related Reading: Chainlink Consolidates In Triangle Pattern Is A 35% Breakout Imminent? Despite the negative outlook, some analysts see early signs of a potential reversal forming. Top crypto analyst Ali Martinez shared a bullish observation, noting that SUI is showing an inverse head and shoulders pattern on a short-term time frame a technical formation often associated with a shift in momentum and a possible upward breakout. While the overall trend remains fragile, the emergence of this bullish structure may suggest a short-term rebound is possible if confirmed. For now, traders are watching closely to see whether this pattern will hold and ignite a rally or if broader market weakness will continue to drag SUI lower. SUI Holds Support As Bullish Pattern Forms Amid Market Turmoil SUI continues to face selling pressure as global markets react to heightened economic uncertainty. The latest wave of volatility followed U.S. President Donald Trumps announcement of new tariffs on what he declared Liberation Day, rattling investor confidence across both traditional and crypto markets. Risk assets, including altcoins like SUI, have been particularly vulnerable to these geopolitical shocks. Despite the turbulence, some analysts believe the worst may be over. They argue that the current environment could mark the beginning of a consolidation phase a necessary reset before the next major move. SUI appears to reflect this dynamic, with price action tightening between two key levels. Bulls have struggled to push SUI above the $2.50 mark, a critical resistance zone that has held strong through recent attempts. At the same time, bears have failed to break the $2.20 level, indicating solid demand at lower prices. Adding to the optimistic outlook, Martinez shared a bullish technical setup. According to his analysis, SUI has formed an inverse head and shoulders pattern a classic reversal formation on the short-term chart. If SUI can manage to decisively break above $2.52, this could trigger a short-term bullish reversal and open the door to further gains. While macroeconomic headwinds remain strong, the formation of a reliable bullish pattern amid consolidation is a positive sign. Traders are now closely watching the $2.52 level, which could serve as the catalyst for the next big move. If confirmed, the breakout could mark the start of SUIs recovery phase even as broader markets remain on edge. Related Reading: Whales Dump 760,000 Ethereum in Two Weeks Is More Selling Ahead? Price Action: Bulls Defend Key Support Levels SUI is currently trading at $2.30 after spending the past month below both the 200-day moving average (MA) and exponential moving average (EMA). This prolonged weakness has kept the asset under pressure, with bulls struggling to regain momentum. The current price zone is critical, and holding above this level is essential to avoid further downside. To initiate a meaningful recovery, bulls must push SUI higher and reclaim key resistance levels. The most important area to watch is the $2.85 mark, which aligns closely with the 200-day EMA. A breakout above this level would signal a potential trend reversal and could trigger renewed bullish momentum. Until then, price action remains vulnerable. If bulls fail to reclaim the $2.85 zone in the coming sessions, SUI risks another leg down. The next major support lies around $2.00 a level that could attract buyers but also marks the edge of a deeper correction if breached. Related Reading: XRP MVRV Ratio Dips Below The 200-Day MA Trend Shift Underway? With market sentiment still uncertain, the next move will largely depend on whether bulls can defend current levels and overcome resistance. A failure to do so could extend the consolidation or lead to more downside in the near term. Featured image from Dall-E, chart from TradingView

Apr 27, 2025 01:10

Sui Network outperforms Bitcoin and other top-cap cryptos

As Bitcoin closes the week at a two-month high above $93,000, and other major cryptos like Solana and Ethereum register impressive gains, Sui Network has emerged as the leader of the top-cap coins, registering a 70% weekly price increase. The rally appears to have been fueled by the launch of the Grayscale SUI Trust and […]

The post Sui Network outperforms Bitcoin and other top-cap cryptos appeared first on CryptoSlate.

Apr 26, 2025 12:05

SUI Eyes $4 Amid 56% Weekly Surge Here Are The Levels To Watch

SUI is leading the crypto market with a 56% surge over the past seven days, reigniting bullish sentiment toward the token. Amid its price recovery, some analysts suggested that the cryptocurrency is about to start a massive rally toward new highs. Related Reading: All Bets Off If Bitcoin Reclaims This Level, But Analysts Warn Of Potential Rejection SUI Reclaims $3 Amid Breakout On Thursday, SUI, one of the leading cryptos of this cycle, saw an 11% daily jump to break above a crucial barrier. The token has been in a multi-month downtrend since hitting its all-time high (ATH) of $5.35 four months ago. Throughout the 2025 corrections, the cryptocurrency has lost key support levels, retracing over 68% from its January high. However, it attempted to reclaim the $2.70-$2.80 resistance level last month after trying to break out from its multi-month falling wedge structure. In March, the token surged to this key region following the news of institutional adoption, including Canary Capitals filing of a Form S-1 for an SUI spot exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC). Ultimately, it failed to confirm the breakout and turn this level into support, dropping to pre-US election breakout levels in the following weeks. Nonetheless, SUIs 56% weekly breakout has sent the cryptocurrency back above the $3.00 and $3.20 levels, lost in March. Moreover, SUI has broken out of its falling wedge pattern again, which could propel the token to new highs if the breakout is confirmed. Notably, the altcoin has broken out of a multi-month falling wedge twice, in October 2023 and August 2024, which drove the cryptocurrency to new ATHs in the coming months. Price Sitting At Key Level After Todays surge to the $3.39 mark, the token has retraced toward the $3.25-$3.30 levels, with market watcher Hov noting that SUI sits at a key resistance zone between the $3.30-$3.70 price range. To the analyst, the cryptocurrency must carry through this level and get a HTF close above 3.72ish for bullish confirmation. After this, he suggested that SUI would likely see a retest of resistance turned support. This would put the $4.00 resistance and new ATH on the menu if it holds. On the contrary, failing to reclaim this key zone could halt the bullish momentum and send the cryptocurrency to retest the recently reclaimed $2.70-$2.80 as support, and risk a drop to the re-accumulation zone between the $2.00-$2.30 range. Related Reading: Cardano Breakout Eyes $0.80 Resistance Is ADA Repeating Its ATH Playbook? Meanwhile, Rekt capital noted that the token also looks good on the fundamental side of things, Grayscale opened a SUI trust today, showing institutional growth. The analyst highlighted that SUI has rallied 50% since breaking its downtrend, which made the token flip Avalanche (AVAX) and Chainlink (LINK), making it the 11th cryptocurrency by market capitalization. As of this writing, SUI trades at $3.28, a 34% increase in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Downside Threat: These Two Crypto At Risk Of Crash Due To Unlocks

Author: Reynaldo Marquez
United Kingdom
May 30, 2023 04:45

Downside Threat: These Two Crypto At Risk Of Crash Due To Unlocks

The crypto market has shown signs of recovery over the last week, with top coins trending to the top of their range. However, the picture could turn red in the short term for some altcoins as unlocks season kick-off. Related Reading: Shiba Inu Price Faces Dilemma As New Addresses Take Conflicting Positions As of this writing, Ethereum trades at around $1,900 with sideways price action in the last 24 hours. In the past week, the cryptocurrency traded in the green but has been outperformed by altcoins, such as XRP, Cardano (ADA), Polygon (MATIC), and its synthetic version Lido Staked Ether (stETH). Crypto Unlocks Jeopardize Altcoin Sector According to an analyst at Scimitar Capital, the native token for the Ethereum-based scalability solution Optimism (OP) and the native token for the Sui Network (SUI) are poised for a major retrace. These two tokens will unlock a big chunk of their supply soon. In the past, any uptick in circulating supply for a token led to increased selling pressure in the market. The more supply, the less demand for the crypto, which translates into downside price action. The analyst claims that SUI will see a 13% unlock on its market capitalization, meaning $67 million in the token, at current prices, is about to enter the market. On the other hand, OP is about to see a spike of over 110% in its market cap. In other words, around $580 million in OP will flood the altcoin market; according to the analyst, the likely scenario is for the token to succumb to downside pressure: Optimism has a massive unlock this week with over 114% of the current circulating supply unlocking. All else held equal, this means the token should trade much lower than it is now, as price is a function of supply and demand more supply = lower price. If the price of Bitcoin and other cryptocurrencies can’t push upside and break out of their current range, then SUI and OP are likely to re-test critical support. Other altcoins could face a similar fate as market conditions worsen. Unlocks Season Hints At Bearish Pressure, But Shorting Is A Bad Idea? However, the team behind Optimism announced an important upgrade for the network. The second layer solution will lower fees and increase performance one week after unlocking the OP supply. There have been other announcements regarding the state of this network and its development. The analyst believes that this is part of a strategy to offset the unlocks and warn traders against shorting the token, despite the unfavorable conditions: (…) consider who you are trading against the investors and team are incentivized to coordinate and fuck over presellers as much as possible. Do you really want to pvp vs a16z and paradigm and the optimism insiders? As mentioned, SUI is likely also to continue seeing downside price action. Despite unlocking fewer tokens than OP, the Sui Network team has a weaker strategy to counter the potential selling event, which could provide a better opportunity for traders. Related Reading: XRP Bullish Signal: Address Activity Spikes To Historical Levels Cover image from Unsplash, chart from Tradingview

Mar 05, 2024 02:20

Scallop Protocol Secures $3 Million Funding


Scallop Protocol, a leading DeFi platform on Sui Network, successfully raises $3M in strategic investment round for expansion. (Read More)

Jul 28, 2023 12:05

Sui Foundation Dumps MovEX After Contract Violation

Sui Foundation has ended its relationship with the decentralized exchange MovEX following a breach of contract. The foundation alleged that MovEX had released a significant amount of SUI tokens – subject to a contractual lockup – into circulation. Sui Foundation Terminates Relationship With MovEX For Unlocking 2.5 Million Tokens On July 26, 2023, the Sui Foundation released a blog post, explaining the network’s token supply and the essence of its token release schedule. The foundation also announced the termination of its relationship with MovEX after breaching its token lockup contract.  Related Reading: Shibarium Bridge Goes Live In Beta But There’s A Catch According to the foundation, early contributors to the network received SUI tokens that were subject to a lockup period – only to be released based on a preset schedule. MovEX was one of the recipients of this token allocation, collecting 2.5 million SUI tokens as payment for its contribution to the exchange product DeepBook.  However, the decentralized exchange (DEX) was found to have violated the token lockup by moving its entire allotment of tokens in three (625,000 SUI) transactions to three separate wallets.  At the time, these transactions raised questions about the Sui Foundation, with some tweets implying that the foundation “intentionally misrepresented” the token emissions schedule. The foundation denied these claims and has further clarified in its latest post that it didn’t consent to the three transactions by MovEX.  As a result of these events, the Sui Foundation has cut off ties with the decentralized exchange. It also confirmed that no additional SUI tokens will be distributed to MovEX, nor will the DEX remain a contributor to DeepBook. “By July 3, upon Sui Foundation’s request, MovEX had moved the entire allotment of 2.5M tokens to a wallet at a qualified custodian who will release them according to the contractual lockup schedule in compliance with the previously released token emissions schedule,” the foundation noted. According to the analytics dashboard Token Unlocks, a total of 646.25 million SUI tokens have been unlocked so far, with the next unlocking event expected to take place on July 31. SUIUSDT valued at $0.6359 | Source: daily SUIUSDT chart from TradingView MovEX Addresses Community On Situation On Thursday, July 27, the team behind MovEX released a statement on Twitter, addressing its community on the situation. In the tweet, the project acknowledged that it received the SUI tokens – as claimed by the Sui Foundation. Related Reading: Short-Lived Hype: Worldcoin (WLD) Signups Dwindle Less Than A Week After Launch MovEX also stated that it transferred its entire allotment of SUI tokens to “custodian and non-custodian wallets”. While confirming that it has moved the tokens back to a qualified custodian, the DeFi protocol claims to understand the decision of the Sui Foundation. MovEX is a decentralized exchange native to the Sui network. According to the protocol’s whitepaper, it combines an automated market maker (AMM) and order book to create a hybrid liquidity DEX. Featured image from Dreamstime, chart from TradingView

Mar 01, 2025 02:15

Pebble City Launches on Sui, Elevating Web3 Social Casino Gaming


Pebble City, a Web3 social casino game by NHN, launches on Sui, offering innovative gameplay with blockchain integration and community-driven interactions. (Read More)

What Is Sui (SUI) Network?

Author: Reynaldo Marquez
United Kingdom
Feb 12, 2024 12:05

What Is Sui (SUI) Network?

[toc] What Is SUI? Sui (pronounced “Swee”) is a decentralized Layer 1 proof of stake blockchain, meaning it serves as the foundational infrastructure for verifying and processing transactions, similar to Bitcoin and Ethereum. Layer 1 blockchains are the backbone that supports a specific token or a network of different tokens.  Sui was developed by Mysten Labs, a group of former Meta employees. It is designed to limit how long it takes to execute smart contracts and support scalability for decentralized applications (dApps). The network believes it has cracked the code on smart contract execution in terms of speed, high security, and low gas fees. This is possible because of the programming language it was designed with called “Move”. Move is a Rust-based programming language that prioritizes fast and secure transaction executions. According to the whitepaper, the network is named after the element water in Japanese philosophy, a reference to its fluidity and flexibility that developers can use to shape the development of Web3. The network is focused on low latency and super scalability. This has seen it termed by supporters as the Solana Killer. Related Reading: Solana Meme Coin Season: A Guide to Buying, Trading, And Profiting From SOL Tokens The Sui project was announced by Mysten Labs in September 2021, and in December 2021, Mysten Labs invested $36 million into the project. This was followed by a $300 million series B announcement led by a $140 million commitment by FTX in 2022, valuing the startup at $2 billion. Reasons Why Sui Network Was Created In the words of Sui Co-Founder and CEO, Evan Cheng, the current Web3 infrastructure is slow, expensive, and notoriously unreliable. Given this, Cheng said the network was created to change the Web3 game with some 5G level upgrades that would allow developers to create blockchain-powered applications with scalability that you can only associate with centralized technology hubs that dominated Web 2.0.  In other words, the Sui network was created to solve Web3 problems by simplifying and improving the creation of various applications and functions in the Web3 ecosystem, solving the most common problems in the Web3 industry: speed, security, and stability. How Does The Blockchain Work? Sui operates as a Layer 1 blockchain focused on optimizing fast blockchain transfers. It places a high level of importance on immediate transaction finalization, making Sui an ideal platform for on-chain applications such as decentralized finance (DeFi), gaming, and other real-time use cases.  Unlike the existing Layer 1 blockchains where transactions are added one after the other, which makes it slow as more transactions are being added to the blockchain, Sui does not make every transaction go through all the computers in the network. Instead, it picks the relevant part of the data it needs to check, which eliminates the problem of congestion on the blockchain and drastically reduces gas fees to carry out transactions. The Sui network uses a permissionless set of validators to reduce latency and a protocol called the Delegate Proof of Stake system. It has epochs (each consisting of 24 hours), during which Sui holders select a set of validators with whom they store their staked tokens. The validators are then in charge of transaction selection and approval. Related Reading: How To Buy And Trade Tokens On The SEI Network Who Are The Brains Behind The Sui Network? Co-Founder and CEO Evan Cheng: Cheng previously worked at Apple for 10 years, and he was also the former Head of Research and Development at Novi and Technical Director of Meta.  The Chief Scientist George Danezis: Former researcher at Novi, Meta, and previously worked at Chainspace, Microsoft. Adeniyi Abiodun, CPO: Former Head of Product Development at Novi, Meta. Previously worked at VMware, Oracle, PeerNova, HSBC, and JP Morgan. Kostas Chalkias: Former leading cryptographer at Novi. He previously worked at R3, Erybo, Safemarket, and NewCrypt. Sam Blackshear, CTO: Former Chief Engineer at Novi, specializing in the Move programming language. Investors and Institutions Backing The Network Sui was valued at $2 billion after FTX Ventures committed $140 million to the project. However, Sui also has other credible investors who also committed, like Binance Labs, the largest centralized crypto exchange by daily trading volume, and Coinbase Ventures, the largest crypto exchange in the United States. Other investors included  Franklin Templeton, a global leader in asset management with more than seven decades of experience, and Jump Crypto, an experienced team of builders, developers, and traders. Apollo, Lightspeed Venture, Circle Ventures,  Partners, Sino Global, Dentsu Ventures, Greenoaks Capital, and OLeary Ventures also invested in the blockchain. Uses of Sui Coin SUI coin plays a crucial role within the ecosystem and serves various functions: Governance: Sui coin holders can participate in governance decision-making, which includes parameter adjustments, protocol upgrades, and other key network changes. This means SUI holders have a say in the direction and development of the Sui Network.  Transaction Fees: SUI coin is used to pay for transaction fees within the network. The coin acts as the medium of exchange to cover all associated fees, whether you are interacting with smart contracts, transferring assets, or participating in any Sui on-chain activity.  Utility: The native coin will be used in various decentralized applications (dApps), gaming applications, and other projects built on the network. It will be used to purchase in-game accessories and NFTs.  Staking: Staking SUI coin helps network security and consensus. SUI coin holders who stake their coins are being rewarded and given incentives for participation and engagement.  Investment: Investors can buy and hold or trade SUI coins as an investment on centralized exchanges, just like Bitcoin, Ethereum, Solana, Cardano, BNB, and all other blockchains with good use cases. Related Reading: What Is Kaspa (KAS) Blockchain? Sui Network Plans To Improve The Web3 Ecosystem  Transaction Speeds Sui Network aims to solve the slow transaction problems on Web3. The network was built on a Rust-based programming language called Move, which prioritizes fast and secure transaction executions. Transactions on the Sui network are validated in epochs of 24 hours, each epoch can be validated independently rather than in blocks like its done on traditional blockchains.  The parallel execution of transactions increases Sui network transaction speed to 297,000 transactions per second and 400 milliseconds time of finality compared to Ethereum’s 20 transactions per second and 6 minutes time of finality or Solana’s 10,000 transactions per second and 2.5 seconds time of finality. Focus On Web3 And Asset Ownership The Sui network is focused on improving Web3 and Web3 experience by catering to the needs of millions of users, which includes speed and security. Sui allows users to create, upgrade, and deploy decentralized applications and non-fungible tokens (NFTs) Scalability Sui Network aims to make Web3 more scalable through parallel processing or execution. This means that the Sui network identifies independent transactions and processes them simultaneously. The implication is that transaction times are reduced, and it accommodates larger transactions loaded per time. It is made possible because of the Sui implementation of the Move programming language and the Narwhal-Bullshark-Tusk Consensus algorithm, which focuses on the details of a transaction rather than the entire chain of transactions. The Tokenomics Of SUI coin Sui’s native token is called SUI, which has several use cases. According to Coingecko, the max and total supply of SUI is capped at 10 billion coins with a current circulating supply of 1.2 billion, and it is ranked number 48 based on market cap value.  Related Reading: WHAT IS XRP LEDGER (XRP)? A share of the total supply of SUI was made liquid at the launch of its mainnet on May 3, 2023. Sui’s all-time high was on the day it was launched at $2.16. However, it is currently trading at $1.51, which is a 320% pump from its all-time low of $0.364 last year on October 19. The tokenomics included 6% going to its Community Access Program and App Testers, 10% of the supply went to the Mysten Labs Treasury, 14% went to its Investors, and 20% went to Early Contributors. The vast majority of the supply, 50%, is kept in its Community Reserve. The purpose and distribution of the Community Reserve include a Delegation Program, Grant Programs, Research & Development, and Validator Subsidies, as shown in the illustration below: Only about 5% of SUI coins were already in use when the Sui Mainnet launched, while the rest will be gradually released according to their planned schedule, as shown below: Related Reading: What Is Sei (SEI) Network? Conclusion Sui Network aims to improve Web3 by giving every Web3 user a much better Web3 experience without the struggles of slow transaction speeds. The network uses parallel execution for transactions to ensure lightning-fast speed, high security, and low gas fees.

Sui awards $500k to CertiK for uncovering critical ‘HamsterWheel’ vulnerability

Author: Oluwapelumi Adejumo
United States
Jun 20, 2023 01:10

Sui awards $500k to CertiK for uncovering critical ‘HamsterWheel’ vulnerability

Sui awarded $500,000 to blockchain security firm CertiK for discovering a critical ‘HamsterWheel’ vulnerability on its network, according to a June 19 blog post. In the blog post, CertiK’s Skyfall team detailed the technical aspects of the HamsterWheel attack, explaining how it would have negatively impacted Sui and how it was fixed. Mysten Labs, Sui blockchain […]

The post Sui awards $500k to CertiK for uncovering critical ‘HamsterWheel’ vulnerability appeared first on CryptoSlate.

A simple tile game is spiking daily txs on Sui Network: Data platform

Author: Cointelegraph By Martin Young
United States
Jul 17, 2023 08:20

A simple tile game is spiking daily txs on Sui Network: Data platform

Sui 8192 is a tile-sliding puzzle game launched in October 2022 and is fully on-chain. Each move is recorded as a transaction on the Sui Network.

Jun 13, 2023 10:30

SUI Defies Bear Market With 15% Rally, Is A Return To $1 Imminent?

Over the last 24 hours, SUI has put on a tremendous rally and has risen over 15% in this time period. With this rally, the altcoin has moved once more into bullish territory, which begs the question of whether SUI would be on its way back to $1 soon. SUI Crosses $0.7 After Rising Over [...]

The post SUI Defies Bear Market With 15% Rally, Is A Return To $1 Imminent? appeared first on Crypto Breaking News.

Dec 25, 2024 02:20

Sui Network's Remarkable DeFi Expansion in 2024


Sui Network's DeFi ecosystem saw significant growth in 2024, with increased institutional interest, stablecoin offerings, and innovations like DeepBook V3 and Sui Bridge. (Read More)

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