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Information about Sui (SUI)
Sui is a high-performance smart contract platform under a Monolithic structure. In particular, a Monolithic blockchain is a blockchain that handles all tasks and jobs on a single network. Sui is scalable up to several hundred thousand TPS (number of transactions processed per second) and block times range from 2 – 3s.
Sui's goal is to expand Web3's ecosystem, providing an infrastructure with the right incentives for developers to quickly build and launch applications.
Sui uses the MOVE programming language and Narhal-Tusk, a consensus algorithm that solves the Mempool problem - consensus in traditional blockchain designs like Ethereum & Bitcoin. Based on this specification, the Sui blockchain allows the network to scale horizontally, able to support millions of transactions per second without requiring dedicated nodes in the network.
SUI is a native coin of the Sui ecosystem and can be used to:
Specifications
News
Athens Exchange Group (ATHEX) has launched a digital fundraising platform on the Sui blockchain to modernize capital market processes.
The platform employs zero-knowledge technology to enhance privacy during fundraising while maintaining compliance and efficiency.
In collaboration with Mysten Labs, ATHEX aims to test the platform through a proof of concept, focusing on creating a state-of-the-art on-chain order book.
Sui Network has partnered with Babylon to integrate Bitcoin staking, securing its position as a Bitcoin-Secured Network (BSN). This development enhances Bitcoin’s role in DeFi, allowing developers to create decentralized applications that capitalize on Bitcoin’s unique security.
The Babylon protocol redefines traditional proof-of-stake by utilizing Bitcoin staking instead of relying on token inflation. This innovative approach fosters a sustainable DeFi environment, aligning with the vision of a Bitcoin-secured decentralized ecosystem.
SUI has seen robust inflows of $6.1 million in stablecoins, the highest across blockchain platforms in the last 24 hours. This influx is a clear indication of growing investment confidence in SUI.
Open interest surged by 30.64%, totaling $785.35 million, pointing to increased speculative activity. Traders seem to be preparing for price volatility, contributing to a positive market sentiment.
SUI is currently trading at $2.16, with a critical resistance level at $2.23. If surpassed, there is a targeted price of $2.80. Positive funding rates also indicate a potential price recovery.
Sui’s price increased to 2.13 USD, gaining 10% after a 90-day tariff pause. Despite this, SUI is still down 7% weekly and 23% bi-weekly. Its trading volume reached 1.9 billion USD today, reflecting strong market interest.
With solid fundamentals indicating potential for recovery, Sui’s chart suggests a possible upward trend. If trade tensions resolve positively, Sui may benefit and gain further traction in the market.
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