Explanation of SUI currency and its project:
The SUI currency is the native digital currency of the Sui network, a Layer 1 blockchain platform launched in May 2023 by Mysten Labs, founded by former engineers at Meta who worked on the Diem project (formerly known as Libra). The network aims to provide advanced solutions for smart contracts, processing transactions at high speed, low costs, and superior scalability, making it a strong competitor to networks like Ethereum and Solana.
Features of the Sui project:
1 Parallel transaction processing:
◦ Sui is characterized by its ability to process transactions in parallel, allowing for horizontal scaling of the network and increasing its efficiency compared to traditional blockchains like Bitcoin and Ethereum, which process transactions sequentially. Sui can be likened to a multi-lane highway, reducing bottlenecks and speeding up transactions.
2 Move programming language:
◦ Sui relies on the Move language, developed by Meta for the Diem project. Move is considered secure and flexible, and is used to develop advanced smart contracts that support various applications such as decentralized finance (DeFi) and blockchain games (GameFi).
3 Consensus mechanism:
◦ Sui uses a delegated proof of stake consensus mechanism, allowing for high-speed transaction processing while maintaining security. It also works on improving consensus mechanisms to reduce response time.
4 Diverse applications:
◦ Sui supports applications in various fields such as DeFi, GameFi, and Web3, focusing on enabling users to own digital assets securely and quickly. It also provides an environment for developing blockchain games that allow true ownership of in-game items.
5 Rapid growth:
◦ Sui has seen significant growth since its launch, with the number of active accounts exceeding 18.19 million, and the total locked value (TVL) in DeFi protocols reaching $500 million by 2024. The daily trading volume of stablecoins like USDC has also been substantial, reflecting growing interest.
Information about the currency:
• Total supply: 10 billion SUI coins.
• Circulating supply: approximately 3.25 billion coins (as of April 2025).
• Current price: approximately $4.78 (according to Binance data as of February 2023, noting that prices are constantly changing).
• All-time high: approximately $5.02 (January 2025).
• All-time low: $0.558 (June 2023).
Price potential and forecasts:
The price forecasts for SUI are influenced by factors such as supply and demand, protocol updates, and whale activity (large investors). Here’s a look at the forecasts based on various sources:
1 Short-term forecasts (2025):
◦ According to Gate.io, the price of SUI is expected to reach around $2.58 in 2025, with the potential to rise to $5 if demand for decentralized applications continues.
◦ Sources like Analytics Insight predict significant increases thanks to the strength of the project, with the potential to exceed $5 if DeFi and GameFi continue to grow.
◦ However, the price may face temporary selling pressure due to the release of 88.34 million SUI (worth $319 million) in May 2025, which represents 3.5% of the supply.
2 Long-term forecasts (2026-2030):
◦ Some forecasts indicate that SUI could reach $10 or more by 2030 if the network succeeds in attracting more developers and users, especially with the evolution of Web3 and decentralized gaming.
◦ However, future inflation (with the launch of more coins until 2025) may negatively impact the price if not met with sufficient demand.
3 Factors affecting the price:
◦ Increasing demand: The growth of liquidity in DeFi and stablecoins like USDC (which dominates 72% of the market on Sui) boosts confidence in the network.
◦ Network updates: Developing new technologies, such as infrastructure projects (like ikadotxyz), enhances Sui's appeal.
◦ General market: The volatility of the cryptocurrency market, such as the impact of Federal Reserve decisions or SEC approval of investment funds, may affect SUI.
Is SUI a good investment?
• Pros:
◦ A strong project backed by an experienced team from Meta.
◦ Innovative technology (parallel processing, Move language) makes it a competitor to Solana and Ethereum.
◦ Rapid growth in the number of users and locked value.
◦ Increasing interest from investors and developers in DeFi and GameFi.
• Cons:
◦ Future inflation due to the launch of more coins may pressure the price.
◦ Intense competition with networks like Solana, Aptos, and Avalanche.
◦ The volatility of the cryptocurrency market makes investment risky.
Advice: Before investing, do your own research (DYOR) and consult a financial advisor. Cryptocurrencies are volatile, and you may lose your invested capital.
How to buy SUI?
SUI can be purchased from centralized exchanges like Binance, Bybit, KuCoin, and DigiFinex, or through decentralized platforms like BlueMove. You need to create an account, pass KYC verification, and use currencies like USDT to buy SUI.
Summary:
The Sui project is considered one of the promising projects in the blockchain world due to its innovative technology, strong team, and diverse applications. The SUI currency has good growth potential, especially with the increasing interest in DeFi and Web3, but inflation and market volatility may affect the price. If you're considering investing, closely follow the network developments and market analyses.
If you need more details or specific analysis, let me know!
