TL;DR
- Sui has reached a new all-time high of $3.28, achieving a 73% weekly growth and surpassing $9.33 billion in market capitalization.
- The issuance of native USDC on its network has exceeded $100 million, enhancing liquidity and increasing the ecosystem’s appeal for users and developers.
- The platform has expanded its presence in NFTs and gaming through a partnership with Trace.
Sui has reached a new all-time high in its price, establishing itself as one of the best-performing altcoins in 2024. It has stood out for its strong growth, supported by significant advances in its ecosystem.
In recent days, the token hit $3.28, fueled by a 73% increase in its value over the past week. This rise has been supported by a trading volume that reached $3.33 billion. Its market capitalization has also surpassed $9.33 billion.
The Reasons Behind SUI’s Rise
One of the key factors behind this increase has been the boost in liquidity within decentralized finance (DeFi) on its network. The issuance of native USDC has exceeded $100 million in just two months, providing greater stability and opportunities for users.
Additionally, the recent introduction of the liquid token standard SpringSui ($sSUI) has improved the interoperability of the network’s tokens, facilitating their use in various DeFi applications and making the platform more attractive to developers and users.
Furthermore, the token’s availability on the Coinbase platform has been essential in improving access to the token, especially in the United States, where users can now make faster and more direct transactions between Coinbase and the Sui wallet.
A Well-Planned Strategy
On another front, Sui has expanded its presence in the NFT and gaming markets. Its partnership with Trace allows users to convert sports moments into collectible NFTs, bringing an entirely new approach to the platform. Additionally, the SuiPlay0X1 gaming device continues to gain traction in the Web3 community, now announcing it will offer the MMORPG game Samurai Shodown R.
Sui’s growth in multiple areas shows that its recent price surge is not driven by speculation but is the result of a well-structured strategy aimed at consolidating its ecosystem. Analysts project optimistic price targets between $5 and $6, suggesting a promising future for the token.
