$SUI has seen a huge increase recently, with six consecutive increases in the past seven weeks, from a low of 0.46 in early August to a high of 2.36 in mid-October, a two-month increase of 413%.
SUI's current price is $1.9, with a market value of $5.3 billion. It ranks TOP21 in coinmarketcap, just behind $APT .
I checked my position records and found that the average cost of SUI was nearly 2 US dollars. It took me a long time to get back to the cost price after such a big increase. But if the future is promising, it doesn't matter if I wait now.
Sui is a permissionless, PoS-based Layer 1 blockchain network that focuses on low-latency asset management, with high efficiency, low cost, high throughput and low latency.
Sui uses the Move programming language to define assets and is horizontally scalable, supporting the development of a large number of applications at ultra-fast speed and ultra-low cost.
Sui's native token is SUI, which is used to pay transaction fees, participate in the proof-of-stake mechanism, serve as a liquid asset, and participate in on-chain governance.
The total supply of SUI is 10 billion, and the circulation accounts for 27.6% of the total. The rest will be unlocked in the next few years and distributed as future staking reward subsidies.
Sui was created by Mysten Labs, has completed $300 million in financing, and is sought after by many investment institutions.
Sui has its own technical advantages in terms of scalability, developer threshold and security.
By using Byzantine consistency broadcast, Sui is able to bypass consensus and “execute” many unrelated transactions “in parallel,” minimizing latency and maximizing throughput.
Sui focuses on enhancing horizontal scalability to adapt to the needs of decentralized applications. In running tests, Sui validators can execute and submit more than 120,000 orders per second (TPS).
Sui uses the Move programming language, which lowers the developer threshold and optimizes the developer experience, which also means that programmers can write less boilerplate code and make fewer mistakes on basic concepts.
Only with more active and high-quality developers can we bring more applications to the Layer1 ecosystem and promote the development of the public chain ecosystem.
Sui is a web3 project that is more web2-oriented. It attaches great importance to compliance and provides grants to many projects in US dollars rather than its own tokens.
Sui officials need cumbersome and complicated documents, KYC, accounts, etc., and it takes a long time to get the grant. This also means that projects approved by Sui officials are unlikely to run away, because Sui officials will cover the bottom line.
Currently, there are dozens of basic projects in the Sui ecosystem, including Defi, wallets, domain names, NFTs, gamefi, etc., among which there are many Chinese developers, such as DeFi projects Cetus, Scallop, etc.
The public chain market prospered in the bull market of 2021, and public chains such as Solana and Terra grew up.
SOL has been far ahead, rising from $1 at the beginning of 2021 to an all-time high of $259 in November 2021. The current price is $160.
According to the 2024 Cryptocurrency Development Report, the number of active wallet addresses on the Solana chain has reached 100 million, and the meme economy on the SOL chain continues to be hot. Solana is one of the most popular public chains at present.
LUNA was also very prosperous at one point, reaching a bull market high of $115, but later experienced the turmoil involving its founder Do Kwon, and now Terra has basically returned to zero.
In the bull market of 2025, which has a four-year cycle, will there be another dazzling public chain emerging?
Old public chains such as ETH, SOL, NERA, TRON, BTC, etc. have formed their own fixed user groups and market positioning; new public chains such as TON, SUI, APT, etc., have continued to increase their active addresses since 2024.
TON attracted a large number of players through mini-program games and telegram user airdrops. SUI and APT attracted a lot of attention through technological advantages and rising coin prices, improving ecological facilities and attracting more developers and players.
In the future, which public chain will be able to successfully stand out remains to be verified by time, but now may be an opportunity to ambush.
The public chain has a complete infrastructure, many ecological projects, active users, and can meet application needs. New projects will inevitably be nurtured in it.
Which new public chain do you think is promising?
I am Chu Xiaolian, let’s pay attention to the crypto market.
