The SUI ecosystem is developing rapidly, with a market capitalization ranking in the top 20.

Recently, the SUI ecosystem has made significant progress. With the unlocking of tokens and the launch of the cross-chain bridge mainnet, coupled with the unprecedented popularity of meme token effects, SUI has led a new wave of growth, with its market capitalization rising to the top 20.

Ecological Overview

SUI is a permissionless, PoS-based Layer 1 blockchain developed by Mysten Labs, designed to provide instant settlement and high throughput. The project was founded by members of the original Facebook Libra/Diem team and has gained favor with investors.

Market Performance

Since 2024, SUI has performed remarkably:

• Market capitalization has grown significantly, with a quarter-on-quarter increase of 120% in the fourth quarter of 2023, followed by a further increase of 176% in the first quarter of 2024.
• The overall price shows an upward trend, reaching a historic high of $2.18 on March 27.
• As of October 3, the SUI price is approximately $1.92, with an increase of over 100% in the past three months.

Main Ecological Projects

The SUI ecosystem has attracted numerous projects to join:

DeFi project

• Cetus: A DEX with a TVL of 180 million USD
• DeepBook: The first order book DEX
• Navi: the largest lending platform, TVL 410 million USD
• Scallop: Another major lending protocol with a TVL of $170 million.
• Suilend: The first project on SUI by Solend

wallet

• OKX Wallet: Multi-chain wallet, supports SUI
• Sui Wallet: one of the most widely used wallets in the ecosystem
• Suiet: open-source self-custody wallet

game project

• SuiPlay0x1: lightweight handheld gaming device
• DARKTIMES: Battle Royale Game

Meme token

Multiple popular meme tokens have emerged in the SUI ecosystem:

• $Hippo: market capitalization exceeds 128 million USD
• $BLUB: market capitalization of approximately $50.52 million
• $FUD: market capitalization approximately 36.21 million USD

Token Economics

The total supply of SUI is 10 billion coins, distributed as follows:

• Unlocking after 2030: 52.2%
• Community Reserve: 10.6%
• Staking Subsidy: 9.5%
• Series A investors: 7.1%
• Series B investors: 7%
• Early Contributors: 6.1%
• Community Access Plan: 5.8%
• Mysten Labs Reserve: 1.6%

Key Developments in 2024

1. Network upgrade to version V1.34.2
2. Launch the Hydropower Accelerator Program and Enoki Enterprise Platform
3. Circle's native USDC is about to launch
4. Sui Bridge officially launched on the mainnet
5. Grayscale launches SUI Trust Fund
6. Hold multiple community events

Technical Advantages

The main technical advantages of SUI include:

1. Object-oriented account model
2. Native Randomness Support
3. Native Zero-Knowledge Proof Function

Prospects and Challenges

SUI has excellent technology and a strong team background, but it also faces challenges such as intense market competition and a lack of blockbuster applications. Future development still needs to closely monitor the progress of its ecological construction.