The popularity of SUI ecosystem projects is soaring, showing outstanding performance in multiple fields

Recently, the cryptocurrency market has mainly focused on two major areas: the continuous evolution of meme coins and the strong rise of the SUI public chain. As a Layer 1 public chain that emerged at the end of the last cycle, SUI has shown remarkable performance recently, with its price soaring from $0.76 at the beginning of September to a peak of $2.16, approaching its historical high, representing an increase of approximately 185% in one and a half months.

This wave of SUI hype is driven by institutional funds, aiming to replace the narrative of Solana. The influx of capital has not only boosted the price of SUI but also spurred the prosperity of the entire ecosystem, including a total locked value of (TVL), the rise of ecological projects, and even the general increase in meme coins.

Key Projects in the SUI Ecosystem

Cetus: DEX leader

Cetus is the largest decentralized exchange in the SUI ecosystem, utilizing a concentrated liquidity mechanism similar to Uniswap V3. Its product line includes DEX, liquidity pools, liquidity mining pools, yield vaults, and a Launchpad, and integrates the central limit order book DeepBook and the cross-chain bridge Wormhole.

Cetus's Launchpad provides an IDO platform for SUI ecosystem projects, which is a key factor in maintaining its leading position in DEX. Currently, the platform has a locked amount of over $200 million, ranking fourth in the SUI ecosystem, with an 83% growth in the past month.

The $Cetus token has increased by 180% in the last 30 days, with a current price of approximately $0.17, close to its all-time high of $0.186. The current market capitalization is $54.52 million.

NAVI: Pioneer of Liquidity Protocols

NAVI is the first native one-stop liquidity protocol on SUI, providing lending services similar to Aave. It currently supports various assets, including SUI, vSUI, NAVX, USDT, USDC, and more. The annualized interest rate for stablecoin deposits is approximately 7%, while SUI is 4%.

NAVI is the project with the highest lock-up volume in the SUI ecosystem, growing by 52% within a month, with a total amount reaching $500 million. However, the $NAVI token has not performed as well as the product, with an increase of over 150% in 30 days, but still has a significant gap from its historical high. The current price is about $0.15, with a market cap of $36.62 million.

Scallop: A Highly Anticipated Lending Platform

Scallop is a lending protocol on SUI that completed a $3 million strategic financing round in March this year, with investors including CMS Holdings and 6th Man Ventures. At the end of April, it also received strategic investment from DWF Labs, which will serve as Scallop's primary liquidity provider on major centralized exchanges.

The $SCA token has recently shown signs of recovery, increasing by 52% over the past month, but the growth is not as strong as that of the SUI main coin. The current price is approximately $0.376, with a market capitalization of $20.34 million.

SUI Ecological Meme Coin

HIPPO

HIPPO originates from the Thai internet celebrity hippo "Bouncing Pig" MOODENG. This meme concept first became popular on the Solana chain, then expanded to Ethereum, and is now developing on SUI. Currently, the price of HIPPO is approximately $0.0148, with a market capitalization of $148 million and a seven-day increase of 17%.

AAA

AAA is represented by a black cat and originates from an emoji pack on the SUI Name Service. As one of the few non-oceanic themed meme coins on SUI, the community compares it to the well-known meme coin Popcat on Solana. The current price is approximately 0.0019 USD, with a seven-day increase of up to 293%, and a market capitalization of 19 million USD.

BLUB

The image of BLUB is a fish with a Pepe expression, which was once the most popular meme coin in the SUI ecosystem. Its issuance coincided with the rise in SUI prices, climbing from an initial market value of $3.5 million to a peak of $48 million, achieving an 11-fold increase. The current price is approximately $0.0000123, with a market value of $40 million, experiencing a slight pullback recently.