Layer-1 network SUI continues to attract strong demand, approaching all-time record levels. So what are the reasons behind the rise of SUI Coin?
SUI Coin Price Increase
While SUI Coin has increased by 140% in the last 30 days, it has increased by 266% since the annual bottom reached in August. We have been talking for a long time that interest in alternatives to solana could bring big gains this cycle.
Since the beginning of October, daily transactions on the Sui network have more than doubled, from 4.1 million to more than 9 million, according to blockchain data platform Artemis. More transactions on the network indicate more liquidity is coming and is supportive for the altcoin price increase.
SUI Coin Predictions
On Monday morning, crypto exchange Bybit announced that it will support SUI Coin on its Launchpool platform, making SUI the second network after Mantle in this product. Bybit Spot and Web3 President Emily Bao said;
“Recently, with the strong development of the SUI ecosystem, we have quickly listed the NAVI protocol as one of the leading projects of the SUI ecosystem. We have launched staking for the SUI token pool on our Launchpool platform. The latest move is Bybit’s first mining pool beyond Mantle ecosystem native tokens, and SUI is just the beginning. In the future, we will introduce more ecosystem token pools based on project features and ecosystem development. “We will support ecosystem growth.”
Circle, the firm behind USDC, recently announced that the SUI network will support the world’s second-largest stablecoin by market cap.
“SUI allows developers to build applications for a variety of use cases, including DeFi, gaming, DePIN, and e-commerce. “With the arrival of USDC, developers can launch their projects with the largest regulated dollar-backed stablecoin in the industry.”
Macro expert Raoul Pal recently stated that SUI could be among the ‘chosen ones’ for the next crypto market rally.
The Sui network is growing with strong market performance, increasing trading volume and support from major crypto exchanges. Strengthening its position in the crypto market, SUI Coin may break a new all-time record. The opportunities it offers for investors and developers increase future growth potential.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
