The Truth Behind the Surge of $SUI
SUI has been surging recently, primarily due to the following reasons:
Technical Upgrades
• At 3 AM, the SUI network was upgraded, increasing speed by 34% and reducing transaction fees by 29%. This directly makes transactions faster and cheaper, which is very attractive to both users and developers.
• Digital wallet developer Dynamic has also begun supporting the SUI network, which is a positive development for the SUI ecosystem, making it more convenient for users and attracting more people to join.
Funding Influx
• Major players have entered the game, with Jump Trading investing $18 million to purchase 15 million SUI tokens. Such a large purchase has directly driven up the price and conveyed confidence to the market.
• It now appears that SUI is under strong control by major players, with significant capital quietly accumulating, which is also an important reason for the price surge.
Ecosystem Benefits
• Uniswap has announced its entry into the SUI chain, which is big news. Once Uniswap's traffic and resources come in, the application scenarios and market recognition of SUI will certainly reach a new level.
• The SUI burning and locking mechanism is also at play, with 280,000 tokens destroyed in one day, valued at $170,000, and 40% of the tokens locked. With reduced circulation, the price has naturally gone up.
Ecosystem Development
The SUI ecosystem has been developing rapidly recently, such as Suilend's TVL surpassing $130 million, with very attractive gameplay. The mainnet upgrade has also improved performance and security, making the entire ecosystem increasingly robust.
In short, the recent surge of SUI is the result of a combination of technical upgrades, funding influx, ecosystem benefits, and its own development. However, the market changes quickly, so everyone should still invest cautiously. Following the right people is like giving you fuel!
